Practice on a sample account. Think through each exercise first, then reveal the servicing answer.
Training only. This is a fictional account with sample figures — it is not a real borrower and not your employer's procedure manual. Exercises 5–8 use the sample Line of Credit and Loan Application Register records; LOR is an organization-specific term, and funding models vary by lender and platform.
Review the LOC & LOR funding flow firstAccount SLS-0042-8817
Jane's payment of $400.00 arrives on the due date. Her account carries $12.40 in outstanding fees and $86.70 of accrued interest, with a $310.00 scheduled payment. She has a standing written instruction: apply anything extra to principal.
How should this $400.00 be applied, bucket by bucket?
Jane's ACH is returned for insufficient funds after the payment already posted.
What reverses, what fee applies, and what happens to her delinquency status?
Jane loses her job and asks to stop paying for six months.
Which options do you present, in what order, and what must you disclose?
Jane disputes a 30-day late mark that followed a fee charged in error.
How do you research it, and what correction path is required?
LOC-1001 carries a $10,000,000 limit with $6,000,000 outstanding. A new $20,000 loan for a sample borrower is approved on LOR-24601 and funded in a single disbursement.
Which records and balances should change, and which should not?
LOR-24587 shows $25,000 funded. The LOC transaction for that same loan shows $20,000.
What is wrong, which systems do you research, what gets reconciled, and what evidence do you need?
Two funding transactions of the same amount appear against LOC-1001 for the same LOR on nearby dates.
How do you investigate before making any financial adjustment?
LOR-24587 shows an approved and funded loan of $25,000. The servicing system shows loan LN-784512 with an original principal of $24,000.
Trace LOC → LOR → Disbursement → Servicing Loan and determine where the $1,000 originated.