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How do I process payment arrangments?

Payment Arrangements Playbook

Objective

This playbook provides a structured approach for managing payment arrangements, ensuring accurate borrower communication, fee processing, and system updates in Hubspot and Mortgage Automator (MA).

1. Communication & Documentation

Payment arrangements are triggered by:

  • NSF payments

  • Borrower asking for payment deferral through email and phone call or form.

Step 1: Create Ticket (HS)

  • Search for the Mortgage record using the MA Loan ID

  • Navigate to the contact listed with the Borrower association label

  • If email request comes in through the general inbox, a ticket is created.

    • Owner of inbox should remove owner so that the ticket is assigned to the servicing specialist on the contact

  • If request comes in through individual email or phone call, navigate to related contact and create a ticket in the Servicing pipeline with a category of 'Payment Arrangement'.

    • Associate related loan id

      • An automation will associate any contacts with the following association labels:

        • Borrower (Contact and Company)

        • Investor

Step 2: Borrower Communications (HS)

  • All incoming and outgoing communications related to payment arrangements must go through Ticket in Hubspot

  • Always email the Borrower confirming:

    • The Payment Arrangement Fee ($150).

    • Their consent to the arrangement.

    • Use the email template (TBD) with the attached payment instructions

  • When you email the Borrower, the ticket status will automatically change to 'Waiting on Us'

2. Processing Payment Arrangements in Mortgage Automator (MA)

Step 4: Adjust Payments (MA)

  • Using the link on the Hubspot mortgage record, navigate to the MA Loan record

  • Navigate to 'Payments, Adjustments & Charges' module.

  • Defer upcoming payments that are collected via PAD:

    1. Select Adjustment > Mark Unpaid > Defer Payment.

    2. Choose the appropriate payment(s) from the 'Select Payment/Charge' menu.

    3. Ensure all payments for the belonging month are deferred (including PAD-collected fees).

    4. Date Recorded should be the 1st of the appropriate month.

    5. If the option appears, check "Keep original amortization…" (this will not appear for Interest-Only loans).

  • Charge the $150 Payment Arrangement Fee in MA.

Step 5: Update Investor Payment Distributions (MA)

  • Set up the charge in MA and ensure MIC lays out the monies for the payment.

  • Update Payment Distributions to Investors (Web View) accordingly.

Step 6: Update tickets (HS)

  • Return to the Hubspot open ticket. On the ticket, send an email to any Investor of the payment arrangement (excluding Brookstreet).

  • Add a note to the ticket to reflect the payment arrangement details.

  • Update Payment Arrangement Date to next payment arrangement date.

Step 7: Follow-up on payment (HS)

  • Enroll contact in sequence (add a tag to display Waiting on Payment)

  • If payment is made, close ticket & open ticket in Accounting Admin Pipeline Category: Payment Posting

  • If no response after sequence, on this ticket create a new ticket with category Missed Payment.

  • Close ticket.

Final Compliance & Monitoring

  1. Ensure all borrower and investor communications are properly saved in Hubspot.

  2. Verify that payment arrangements are processed correctly in MA.

  3. Confirm investor distributions are handled appropriately.

  4. Maintain an up-to-date tracking sheet for reporting and compliance.

Conclusion

By following this structured payment arrangement workflow, the Servicing Team ensures accurate borrower communication, correct fee processing, and proper system updates, reducing errors and maintaining compliance.