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Mortgage Grouping

Mortgage Grouping is a tool to help you track the status of mortgage subsets. These can be mortgages used as collateral for loans in such programs as the Accelerated Asset Recovery (AAR) program; mortgages that have received special grants; mortgages for a Planned Unit Development; the mortgages of the homeowners in an homeowner association; and so forth. This function can be used wherever it is desirable to have special reporting for groups of mortgages.

Mortgages can be included and tracked in multiple groups simultaneously.

Defining mortgage groups

The first step in creating mortgage groups is to define them.

  1. Open the Finances tab in the Keystone ribbon and click Groups.
    The Define Mortgage Groups screen appears. When you open this screen, it will only show the active mortgage groups. If you want to see all groups regardless of status, check the Show All check box in the lower right-hand corner.
  2. To create a new group, enter in a new record line the name of a Mortgage Group on the left and enter the Origination Date of each occurrence on the right.
  3. To modify an existing group, click the record selector of the mortgage group and modify the group name or origination date as needed.
  4. Click the Close button when you have finished.

If a Mortgage Group later becomes inactive, uncheck the Active field in the Origination Dates for pane for that particular group.

Adding homeowners to mortgage groups

A mortgage may participate in none, one, or several of the mortgage groups. The Group Membership tab on the Mortgage/Payment Information screen shows the groups that a mortgage participates in. Once you have set up all the mortgages that participate in a mortgage group, you can create reports for this set of mortgages whenever you need them.

  1. Open the Finances tab in the Keystone ribbon and click Mortgages.
    The Define Mortgages Within Group screen appears.
  2. Select the homeowner you want to add to a group from the Name(s) drop-down list.
    Their address appears in the Address field below.
  3. In a new record line in the Participation List pane, select from the Group Name drop-down list the group to which you wish to add the homeowner.
    The Origination Date is shown next to the Group Name in the drop-down list. The Origination Date also appears in the Participation List once you select the Group Name. The Origination Date shown was entered on the Define Mortgage Groups screen for this group.
  4. Repeat steps 2 and 3 for each homeowner you wish to add.
  5. When you are done adding groups to homeowners, click the Close button.
Mortgage Grouping Reports

The Mortgage Grouping reports are standard Keystone reports, however they allow you to run them for just the groups you select. Each of these reports includes the name of the selected mortgage group and the label Mortgage Grouping to distinguish them from their corresponding standard Keystone report. These three reports are on the Reports screen under Finances > Mortgage Grouping.