Foundry · Loan servicing
Part of FoundryEvery payment, balanced to the cent.
Foundry loan servicing runs a loan after it is booked: schedule, payment allocation, payoffs, escrow, delinquency, modifications, statements and 1098s. Every payment posts to the general ledger as one balanced entry.
At a glance
- Payment waterfall
- Fees, then interest, principal and escrow
- Payoff
- Per-diem interest with a good-through date
- Delinquency
- 30 / 60 / 90-day buckets
- Modifications
- Rate, term or deferral; loan history kept
- Tax forms
- Year-end Form 1098
- Side-core
- Servicing can stay on your existing loan core
Specifications
Everything after the loan books.
| Schedule | Amortization schedule; re-cut from the effective date on modification |
|---|---|
| Payment allocation | Deterministic waterfall, posted as one balanced GL entry; allocation returned with the payment |
| Partial and overpayments | Curtailment or hold, per program policy |
| Payoff quotes | Per-diem interest and a good-through date; re-quote after it passes |
| Escrow | Taxes and insurance collected with the payment and disbursed when due |
| Delinquency | Days past due in 30/60/90 buckets, driving collections and credit reporting |
| Loan states | Current, delinquent, in default, charged off, paid off; a cured loan returns to current |
| Statements | Periodic statements and year-end Form 1098 |
| On Nucleus BankOS | Foundry services the loan; Nucleus is the loan system of record |
|---|---|
| On your existing core | Servicing stays there; loans show read-only in Nucleus and the GL ties out nightly |
| Partner API | Servicing reads and writes with scoped keys, idempotent writes and signed lifecycle events |
Questions
Loan servicing: what banks ask
What does a loan servicing system do?
It manages a loan after it is booked: applying payments, running the schedule, managing escrow, tracking delinquency, processing modifications and payoffs, and producing statements and tax forms. In Foundry it shares one record with origination.
How is a loan payment allocated?
By the servicing waterfall, typically fees, then interest, then principal, then escrow. The split posts as a single balanced double-entry and is returned with the payment, so the books match to the cent.
How are partial payments and overpayments handled?
They follow the program’s policy: applied as a curtailment or held, as the bank configures.
How does Foundry handle delinquent loans?
Days past due advance into 30, 60 and 90-day buckets that drive collections workflows and credit reporting. A cured loan returns to current; one that rolls past policy moves to default and, if it comes to that, charge-off.
Is a loan modification treated as a new loan?
No. A rate, term or deferral change re-cuts the schedule from its effective date, and the loan keeps its identity and history.
Can servicing stay on our current core?
Yes. With the loans system of record set to your existing core, servicing runs there; Nucleus shows those loans read-only in customer and portfolio views and ties the general ledger out nightly.
Bring your servicing exceptions.
We will walk through payments, escrow and delinquency on your products, on Nucleus or alongside your core.