Forecast Reports
Reports on upcoming and previously scheduled payments.
Payments are integral to any lending operation, and understanding what payments have been scheduled can help you predict income. Forecast reports do just that—show you the payments that have been scheduled across all the loans in your tenant.
This category comprises two specific reports: Forecasted Payments and Scheduled Payments. Both show information about payments that have been scheduled; the difference is the timing of those payments.
- Forecasted Payments Report - shows info about payments that are forecasted in the future.
- Scheduled Payments Report - shows info about payments that were scheduled in the past, whether they were successful or not. (If you only want to see successful payments, check out the Payments Breakdown report.)
Like all tenant-level reports, they can show you the data for all the loans in your tenant, or a more narrow set of loans that you select with search filters. Both, for example, can narrow your results to payments within a specific timeframe, or payments on loans with specific statuses.
Both of these tools are fairly rudimentary. They look at the payment schedule as it appears in each loan, and then compile that data in a single report. But they don't anticipate any potential changes to your loans. If 70% of your payments are made in a typical week, the system won't take that into account when generating a Forecasted Payments Report, and will instead show you how your income would look if 100% of payments were made in full. Neither can these reports predict an increase in income from new loans. Even if you routinely add new loans into your tenant, the system will only show you the forecasted reports at the time the report was generated.
These reports may be helpful on their own, but they can also be more useful when contextualized against other reports.
For example, the Scheduled Payments Report shows you data for all the payments that were scheduled in a given period. You could also run a Payments Breakdown Report for the same time period, and compare their results against each other to see how much you should have earned (based on the loans' amortization schedule) and how much you actually brought in. Then, you could apply that ratio to a Forecasted Payments Report, which might yield a better prediction of how much you can expect to bring in during a similar window in the future.
Forecast Payments Report
The Forecasted Payments report is designed to show forecast payments. Forecast payments will only appear in the future on activated loans. If loans are not activated, forecast payments can be in the past. This report is usually used to see expected future payments on loans within your company account.
To open the Forecasted Payments report navigate to Reports > Forecast > Forecasted Payments.
To run this report, you can use the search filters on the left side of the page to narrow down your results.
The search bar at the top lets you search accounts using any keywords. The buttons below let you manage your searches and reset your search to defaults. If you'd like to save a search to use for the future, the ‘Manage Searches’ button will let you save your current search and view searches that you've saved in the past.
The Payment Options searches include the ‘Due Date Period’ and the date range. These options will show the payments that match the due date(s) that you choose.
The Due Date Period drop-down menu contains predefined periods that correspond to the current date.
The date range opens a calendar window that lets you choose the FROM and TO dates for the due date.
Below these search parameters are the Advanced Option Search Options. These will help further narrow down your search results.
The search results will provide a variety of information on the forecasted payment on each individual account. If you have any escrow buckets setup, they will be included in this report. Any of the payments in the report can be clicked, which will direct you to the loan where the payment is scheduled.
Once the search has run, you can open the Data Options menu by clicking the three dots icon at the top right of the report.
The options are:
| Option | Description |
| Excel Data Dump | Download the report as a CSV file. |
| Schedule Report | Schedule this report to pull in the future. |
| Email List | Email the customers on the accounts where the payments in the report were made. |
| Servicing Queue | Run a servicing queue of the accounts that had payments in the report. |
| Run TCN Campaign | Send automated phone calls to the customers from the accounts on which the payments from the report were made. |
| Send to Billing | Send the accounts from the report to the billing tool |
| Create Custom Forms | Print custom forms for the accounts on which the payments in the report were made. |
| SMS Tool | Send the accounts from the report to the SMS Tool. |
| Credit Report | This lets you send the group of accounts to be exported in a way that can be used by the Credit Manager to report credit. |
| Loan Admin Tools | This lets you do things like run rules applied on the group of loans. |
| Smart Mail House | Send the loans from the report to Smart Mail House. |
Scheduled Payments Report
The scheduled payments report shows information about scheduled payments on loans within your company. Scheduled payments are not necessarily payments that were made on a loan, but simply payments that were scheduled.
Collection efforts are difficult to measure without seeing the data as a whole. The scheduled payments report helps you see the amount that was scheduled to be collected over a date range, and then compare that amount that was actually collected. With that comparison, you can assess how effective your collections are.
To open the Scheduled Payments report, navigate to Reports > Forecast > Scheduled Payments.
The top of the report will show you the payment application, the total amounts from each application, and the fees breakdown.
Once the search has run, you can open the Data Options menu by clicking the three dots icon at the top right of the report.
The bottom of the report is a breakdown of each account's scheduled payment. If you have escrow buckets setup in your company's account, those buckets will also appear in the table. Any of the payments in the report can be clicked, which will direct you to the loan where the payment is scheduled.
On the left, you can edit both the time range you'd like and the group of loans you'd like to search.
The search bar at the top lets you search accounts using any keywords. The blue buttons below let you manage your searches and reset your search to defaults. If you'd like to save a search to use for the future, the ‘Manage Searches’ button will let you save your current search and view searches that you've saved in the past.
The Payment Options searches include the ‘Due Date Period’ and the date range. These options will show the payments that match the due date(s) that you choose.
The Due Date Period drop-down menu contains predefined periods that correspond to the current date.
The date range opens a calendar window that lets you choose the FROM and TO dates for the due date.
Below these search parameters are the Advanced Option Search Options. These will help further narrow down your search results.
Once you’ve selected a date range and any other filters, click the magnifying glass icon in the search bar to run the search.
From there, you can use the drop-down to export the results.
The options are:
| Option | Description |
| Excel Data Dump | Download the report as a CSV file. |
| Schedule Report | Schedule this report to pull in the future. |
| Email List | Email the customers on the accounts where the payments in the report were made. |
| Servicing Queue | Run a servicing queue of the accounts that had payments in the report. |
| Run TCN Campaign | Send automated phone calls to the customers from the accounts on which the payments from the report were made. |
| Send to Billing | Send the accounts from the report to the billing tool |
| Create Custom Forms | Print custom forms for the accounts on which the payments in the report were made. |
| SMS Tool | Send the accounts from the report to the SMS Tool. |
| Credit Report | This lets you send the group of accounts to be exported in a way that can be used by the Credit Manager to report credit. |
| Loan Admin Tools | This lets you do things like run rules applied on the group of loans. |
| Smart Mail House | Send the loans from the report to Smart Mail House. |
Suspending Payments
Suspending payments is a way to hide forecasted payments—basic predictions of how payments will be applied in the transactions report. When payments are suspended, forecasted payments are not shown until a specified date is reached. Please note that this does NOT affect scheduled payments or due dates. To change scheduled payments you will need to change due dates. This tool can help you calculate payoff without taking future payments into account.
To suspend a payment, open the specific loan account and navigate to Account Setup > Setup Tools > Suspend Payments.
Here, you can select a time period for how long payments will be suspended. You can either select a predetermined increment, or you can select a specific day in the future by using the calendar button. Once you've made a selection, click 'Save'.
To clear suspended payments, use the clear button.
Transactions Report
Once you've suspended the payments, you can see the effect it has on the Live Amortization Schedule. Within the same loan, navigate to Reports > Transactions, and scroll down to the forecasted payments after today's date.
You'll see that for however long you suspended the payments, they only show up as scheduled, and not forecasted. A payment is still due on that day, but the system isn't calculating those payments' effect on the loan. You can see in the picture above, for instance, that none of those scheduled (but suspended) payments change the principal balance in the column on the right.
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