Loan Management: An Overview of the Loans Section on Happy Mango

Four Categories of Loan Status 

Clicking "Loans" on the top menu bar, you will find the following four categories on the dropdown:

1. Active: Loans with a positive unpaid principal balance. Payments are expected from the borrowers. 
2. Paid-Off: Loans that have received full payments and zero (or negative) unpaid principal balance . No more payments are being collected or expected from the borrower.
3. Charged-Off: Loans that have not received payments for an extended period of time, and their unpaid principal balance has been written off. No payments are being collected from the borrowers. 
4. Voided: Loans that have been created and then voided. No payments are being collected or expected from the borrowers.

Each loan is in one of these four categories based on its balance and payment status.  Clicking on any category on the drop-down menu, you will find all the loans in their respective category .

Focusing on a Single Loan

You can find the detailed information on each loan by clicking its hyper linked Loan Number or Application ID on any page.

• Clicking on the Loan Number, you will find its payment schedule, payment history, modification log and more. In addition, you can access the loan management tools.
  Read this article: An Overview of the Loan Payment Schedule Page on Happy Mango

• Clicking on the Application ID, you will find the historical records associated with the loan application. 

Moving a Loan from One Category to Another

The following cross-category moves are possible:

• From Active to Paid-Off
  Read this article: How does a loan get paid off?
• From Active to Charged-Off
  Read this article: How does a loan get charged off?
• From Active to Voided
• From Charged-Off to Active

Key Metrics of Active Loans

In addition to Loan Number, Loan Product Type, Borrower First and Last Names, the following metrics are displayed for each loan on the Active Loans page:

• Note Amount: This is the nominal amount of the loan as stated in the loan agreement
• Original Principal Amount: This amount will differ from the Note Amount if certain fees, such as origination fees, have been added to the loan amount.  This is the principal amount that the borrower will be paying off. 
• Maturity Date: This shows the current maturity date of the loan.  It may differ from the Original Maturity Date if the loan terms have been modified.
• Payment Frequency: The value in this column indicates how often loan payments are expected from the borrower, which can be monthly (M), semi-monthly (S), bi-weekly (B), or Weekly (W). 
• Status: It indicates if the loan payments have been on time.  If the payments have been made within the contractually time frame, i.e. before end of grace period, you will see "OK".  Otherwise, it will show the number of days for which the payment was delinquent in the following buckets: more than 30 days delinquent (30D), more than 60 days delinquent (60D), more than 90 days delinquent (90D), and more than 120-days delinquent (120D).
• Last Modified: It shows the date of the most recent modification. 
• Remaining Principal Amount: This amount is how much remaining balance of the loan principal has yet to be paid. 
• Reset History: The total number of times that the loan schedule has been changed, such as skipping a payment, extending a payment due date, and modifying loan terms.
• Transfer Failed: This field is blank unless two consecutive automatic ACH payments have returned as failed payments, upon which no more automatic ACH payments will be made for this loan. The text "Hold" will appear in this field indicating automatic ACH is now on hold.  The "Hold" indicator disappears and automatic ACH payment resumes after either a successful ACH payment made by the borrower or a modification of the loan payment schedule by the lender has brought the loan payment back to current. 
• Insufficient Balance: This field is normally blank unless two consecutive automatic ACH payments have been canceled on Happy Mango due to insufficient paying account balance, upon which no more automatic ACH payments will be made for this loan. The text "Hold" will appear in this field indicating automatic ACH is now on hold.  The "Hold" indicator disappears and automatic ACH payment resumes after either a successful ACH payment made by the borrower or a modification of the loan payment schedule by the lender has brought the loan payment back to current.
• App ID: This is the application ID, generated when the borrower first applied for this loan. Clicking on this hyperlink reveals the application's processing history.

If you click on the hyperlinked Loan Number, you will see the details behind the above metrics.