Navigation:  Loans > Loan Screens > Account Information Screen Group > Reserves Screen Group > Reserve Analysis Screen > Reserve Analysis tab > Printing Analysis field group > Calculate Initial Statement

Select this radio button if you want to create a generic notice for loans with a shortage or a deficiency. Only one notice will be created. If a loan has both a shortage and deficiency, the amount due will be totaled together. These notices are designed to fit in a 4" x 9 1/2" window envelope. These notices are only created when the analysis is processed via the afterhours process. The program checks for various conditions before printing the notices. For example, if the Shortage Option is “Allow Shortage” and the deficiency payment is not due within 30 days, a notice will not be printed. This is different than the online notices that print the messages on the notice.

 

Shortage and Deficiency Notices

A shortage or deficiency notice may be printed if the following conditions are met:

 

1.A shortage and/or deficiency amount exists.

 

2.The shortage and/or deficiency amount is less than the total of all reserve disbursement amounts divided by the payment frequency. (It does not include the deficiency or shortage monthly amounts.)

 

3.The Shortage Option and/or Deficiency Option are not set to “Allow Deficiency.”

 

When all of these conditions are met, a notice can be printed with the shortage/deficiency amount due in 30 days from today's date. If any of the above conditions are not met and the Statement radio button is selected, an error message will be printed.