What is the ''Ledger''?

The Ledger will display a historical record of all the transactions that have been made in a Loan/Advance since its funding.

In order to check the ''Ledger,'' you should access the loan/advance summary in LendingPortal, once there, at the top of the screen you will find the ''Loan Summary'' and at the bottom you will find the ''Ledger'':

All transactions are ordered according to the transactions create date.

The ledger may vary depending on the product type. For example for a lender who offers loans, the ledger will have two additional columns for Principal and Interests:

The lenders that offer Advances and Split Funding deals do not have these columns:

The columns available are:

• Trans. #: This is the transaction number listed in order

• Status: This is the payment status

  • Successful →

  • Returned/Failed → it will also show the return reason if available

  • In Transit →

• Amount: Payment amount

• Principal: Amount allocated to principal from the payment amount

• Interests: Amount allocated to interests from the payment amount

• Fee: If the payment is only applied to a fee, it will be shown in this column

• Loan/Advance balance: The product balance on that specific date

• Fee Balance: Toal amount of all fees according to that date

• Payment type: This shows the type of payment which can be one of the following.

  • Payment → periodic payment

  • Funding → Net Funding amount sent to the borrower.

  • One-Time Payment → there are several types of OTPs, (the full list is below, in the next section).

  • Fee → If a fee is created from the action menu, or automatically by the system, the transaction will be created on the ledger but the amount will only be applied to the fee column/table. Also, there are some fees that are listed at the beginning of the product’s life, these are fees that are automatically deducted from the product amount before Funding, but are listed on the ledger for the record. These are some of those previously deducted fees.

    • Origination Fee

    • Wire Fee

    • Processing Fee

• Payment Method:

  • ACH → This option will debit the payment from the borrower’s account

  • Debit Card → This option will not debit the payment from the borrower’s account, it’s only for the record.

  • Check → This option will not debit the payment from the borrower’s account, it’s only for the record.

  • Wire → This option will not debit the payment from the borrower’s account, it’s only for the record.

  • Split Funding → This option will not debit the payment from the borrower’s account, it’s only for the record.

  • Off system ACH → This option will not debit the payment from the borrower’s account, it’s only for the record.

• Created: This is the date the transaction was created. All payments are created the business day before the collection day so that they can be debited from the borrower’s account on the collection day.

• Cleared: This is the date when we auto-clear or receive the response from the bank saying the transaction was returned or successful.