Outside Lienholders

On occasion, a customer will obtain financing on his or her own. In this situation, you will not need to complete any purchase contracts for a lending institution. You should therefore not enter any of the lender information into the Bank Maintenance window as this window is only for finance sources that need you to print out their contracts and loan paperwork.

You may, however, want to list the lending institution as a lienholder on your deal and any of the paperwork you print for the deal. In a situation like this, you should enter the lender's information into the Outside Lienholder section of the deal processing screens. You can access the Outside Lienholder Maintenance window by clicking on the Maintenance menu and select Outside Lienholders from the pull-down menu.

When you enter a new outside lienholder in a deal, that lienholder's information will be saved in the Outside Lienholder Maintenance window. In this window, you can enter a new lienholder or edit an existing one.

Deleting a Lienholder

To delete a lienholder from the list, click on the lienholder's listing to select and highlight it. Click the Delete Lienholder button. When finished, click the Save/Exit button.

Adding a Lienholder

There are two ways to add a lienholder to this list. One is to add the lienholder directly into this window. The other is to type in the lienholder's information directly into a deal. When you do this, the software will check to see if the lienholder you are typing into the deal is already in the Outside Lienholder Maintenance screen. If it is not, the software will ask if you want to add them to the list.

To add a lienholder directly to the Outside Lienholder Maintenance window, click the Add Lienholder button. This will create a new row in the window's listing. Then simply type in the lienholder's information. When finished, click the Save/Exit button. You will then be able to select this lienholder from a drop-down listing when processing any subsequent deals.

Editing a Lienholder

To edit a lienholder, simply click on a field or section of the listing you wish to edit. You will then be able to type in the field and edit the information. When finished, click the Save/Exit button.