Tony Williams,  Loan Technologist

This represents the function of computing and recording the borrowers payments to the lender. This includes payments of principal, interest, or fees. The payments may be regularly scheduled at periodic intervals, or may be paid in full at maturity. There may be prepayments (with possible break funding penalties), partial payments or late payments. Lack of principal and/or interest payments for 90 days will generally result in the placement of outstanding loans in non-accrual status whic eventually may be partially or completely charged off.