How to Modify Loan Processing Fee Name/Create Deductible Fees

On the admin portal, users can now change the Loan Processing Fee name to a new name of their choice and configure fees deductible from the customer.

This configuration can be done by a user with Admin access or with access to modify the loan product.

To change a loan processing fee name, follow the steps below to do this:

• Navigate to the Financials tab on the loan product
• On the Loan Processing Fee section, enter the new name into the Fee name box and set up the associated charges.

• Once this is configured, continue to the Workflows tab and click on Complete to save the update.

The new processing fee name will be displayed on the following pages:

• Customer Portal

• Application Details 

• Financials section of the loan product

• Loan Details

• Loan History

Please take a look at the videos below for clarification on how to use this feature: