Previous Lender

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You access the Previous Lender section by clicking the arrow to the left of Previous Lender section under the Interest to be discharged tab.

The Interest to be discharged section allows you to research select and add information about the previous lender. This information will be useful to prepare and process your Discharge file.

This section contains the 3 following main parts:

•Registered Lender: allows to get the name and details of the current Lender by researching and selecting the name of the lender as written on the discharge document.
•Details : allows to select and enter information that will be forwarded to the Lender when sending the Request for Payout Statement.
•Status: allows to follow the steps related to the management process of Discharge.

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The Previous Lender section is made of the following components :

Fields

Description

Lender on Title

Allows to research the name of the lender as written on the discharge document. (This information is displayed after you research the Lender using the Research button to the right of the field)

Lender Info

Displays the Info of the lender (name and current address) related to the Payout Request

Payout Request Sent

Select to send the Payout Request to the Lender

Certified Payout Statement received

Indicates that you received the Certified Payout Statement in your Documents section

Reimbursement

Select to indicate that the reimbursement was made.

No Outstanding Balance

Allows to indicate that there is no balance due to the Lender

Electronic funds transfer using Assyst Payment

Select to send funds electronically using Assyst Payment solution (See Assyst Payment Solution )

Money sent manually

Allows to indicate that the repayment has been made manually to the Lender

Reference # (check #, eft # …)

Allows to enter the reference number as to mode of payment

Amount sent to Lender

Allows to enter the amount sent to the Lender

Authorization to Discharge

Indicates that the Authorization to Discharge has been received in your Documents section

Discharge Registered

Select to indicate that the Discharge has been registered

Discharge Registration #

Allows to indicate the Discharge Registration number

Publish Date

Allows to indicate the Discharge Publish Date

Type

Pull-down menu allowing you to choose the type of Discharge document (full or partial)

Statement required for

Allows to indicate the date for which the statement is required

Comment to Lender

Allows to enter additional information to the Lender (text field)

Legal Description

Allows to select the Legal Description of the property referred by the Payout Request

Previous Borrower(s)

Allows to select Previous Borrower referred by the Payout Request

Nature of Document

Pull-down menu allowing you to choose the nature of Document

Registered Amount

Allows to indicate the amount of the guaranty as written on discharge document

Registration #

Allows to indicate the Discharge Registration number

Registration Date

Allows to indicate the Discharge Registration date

Registration Division

Pull-down menu allowing you to select the Registration Division where the Discharge was registered
➢ Add or Remove a Previous Lender

 

•The Add button top right of the page Previous Lender allows you to add a Previous Lender. You can add up to 10 Previous Lender.
•The Remove button allows you to remove a Previous Lender section.

image note  If there is only one Previous Lender section, you cannot remove it.

image note  If the Payout Request has already been transmitted, you cannot remove it.