--- title: "Servicing 3.0: payments, charges, approvals and payoffs" description: Record payments, add charges, request extensions and waivers, and create payoffs for loans onboarded to LendingWise Servicing 3.0. --- [Skip to content](https://help.lendingwise.com/knowledge/servicing-3-payments-charges-approvals-payoffs#main-content) English Show submenu for translations [Submit Ticket](https://help.lendingwise.com/knowledge/kb-tickets/new?hsLang=en) [Customer portal](https://help.lendingwise.com/tickets-view?hsLang=en) ![owl-Logo-1.png\]](https://help.lendingwise.com/hs-fs/hubfs/owl-Logo-1.png?width=43&height=46&name=owl-Logo-1.png) - [New Releases](https://lendingwise.releasenotes.io/) - [System Status](https://lendingwise.statuspage.io/) Open main navigation Close main navigation - [New Releases](https://lendingwise.releasenotes.io/) - [System Status](https://lendingwise.statuspage.io/) - English Show submenu for translations - [Submit Ticket](https://help.lendingwise.com/knowledge/kb-tickets/new) - [Customer portal](https://help.lendingwise.com/tickets-view) - Go to lendingwise.com Go to lendingwise.com Hello. How can we help you? - There are no suggestions because the search field is empty. 1. [LendingWise - Help Center](https://help.lendingwise.com/knowledge?hsLang=en) 2. [Using The Platform](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en) 3. [Loan Servicing](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#loan-servicing) # Servicing 3.0: payments, charges, approvals and payoffs ## Record payments, add charges, handle approvals and request payoffs Once a loan is onboarded to Servicing 3.0, you manage it from the loan file. This article covers recording payments, adding charges, requests that need approval, and payoffs. To set up servicing and onboard a loan, see [Servicing 3.0: set up and onboard a loan](https://help.lendingwise.com/knowledge/servicing-3-set-up-and-onboard-a-loan?hsLang=en). Where to find it Open the loan file. In the menu on the left, under **POST-CLOSE**, click **Servicing 3.0**, then click the **Servicing** tab. The top of the page shows the loan number, servicing number and borrower, plus tiles for Unpaid balance, Amount due, Total owed, Maturity, Interest rate, Exit fee and Prepay penalty. Colored badges on the right flag problems such as days delinquent, in default and unpaid charges. Below the tiles are two rows of buttons: - **ACTIONS** post right away: Make Payment, Request Payoff, Add Charge, New Adjustment, Generate ACH and Update Borrower. - **ACTIONS REQUIRING APPROVAL** wait for an approver: Cure / Reinstate, Extend and Preferred Day. Cure / Reinstate only shows when the loan is in default. ![Servicing 3.0 Servicing tab showing the loan tiles, Actions and Actions Requiring Approval](https://help.lendingwise.com/hs-fs/hubfs/02_servicing_overview.png?width=670&height=136&name=02_servicing_overview.png) Record a payment 1. Click **Make Payment**. 2. The window shows what's owed in each bucket (principal, interest, default interest, late fee and charges). Enter the **Payment Amount**. The **Payment Allocation** box shows how it will be applied. 3. Under **Additional Info**, check the Date Paid, pick the **Source**, and add a Reference # and Memo if you like. 4. Click **Submit Payment**. You'll see "Payment saved successfully." Payments go to the oldest unpaid period first. If overpayments aren't allowed on the loan, the payment is capped at what's owed. ![Make Payment window with amounts owed, payment amount, payment allocation and source](https://help.lendingwise.com/hs-fs/hubfs/03_make_payment.png?width=670&height=722&name=03_make_payment.png) **Entered a payment by mistake?** Reverse it from the payment history (choose Manual, or NSF / Returned Payment for a bounced payment). A reversal can't be undone. Add a charge 1. Click **Add Charge**. 2. Enter the Effective Date, a Description and the Amount. 3. To repeat the charge monthly, set **Repeat (Months)**. Leave it at 1 for a one-time charge. 4. Click **Save Charges**. **Important:** an unpaid charge counts toward the payment that's due. Even a small unpaid charge can make the loan late, add a late fee and lead to default. Collect or waive charges promptly. ![New Charges Record window with Effective Date, Description, Amount and Repeat (Months)](https://help.lendingwise.com/hs-fs/hubfs/04_add_charge.png?width=336&height=364&name=04_add_charge.png) Requests that need approval Extensions, preferred payment day changes, cures and waivers don't post until someone approves them. 1. Click the action, for example **Extend**. For an extension, enter the Term and Unit, any Extension fee or Rate bump, and a **Reason** (required). The bottom of the window previews the new maturity date. 2. Click **Submit for Approval**. The request shows under **Pending Approvals**. 3. An approver opens the request, adds a decision note if they want, and clicks **Approve & Execute**. 4. Tick **Show decided** to see past requests and their status. Only users with **Grant Servicing Approvals** turned on (and managers) can approve. After an approval, the tiles at the top don't refresh by themselves. Click **OnBoarding Info/Loan Settings** and then **Servicing** again to see the updated numbers. ![Extend Maturity window showing the Approval required banner and Submit for Approval](https://help.lendingwise.com/hs-fs/hubfs/05_extend.png?width=534&height=368&name=05_extend.png) ![Pending Approvals list with an approved waiver request](https://help.lendingwise.com/hs-fs/hubfs/07_approvals.png?width=670&height=42&name=07_approvals.png) Request a payoff 1. Click **Request Payoff**. 2. Set the **Good Through Date**. Accrued interest is worked out up to that date. 3. Check the Exit Fee and Prepayment Penalty (you can override the calculated amounts), review the bucket balances, and add any extra fees with **Add Fee**. 4. Check the **Total Payoff Due**, then click **Submit Payoff Request**. The request stays pending until you act on it, and you can cancel it from the payoff requests list. ![Request New Payoff window with Good Through Date and Total Payoff Due](https://help.lendingwise.com/hs-fs/hubfs/06_payoff.png?width=534&height=546&name=06_payoff.png) Known issues - **Check every payoff statement by hand.** The payoff PDF can leave unpaid interest out of the item list, show the wrong day count and print a different daily rate. Payoffs also price unbilled days at the note rate, even when the loan is in default. - **Late fees and default can show up about a month late.** A late fee appears once the next due date has passed, dated back to the end of the grace period. - **The daily interest amount can differ between screens.** The rate tile and payoffs use a 365-day year, while the payment schedule uses the loan's accrual type (for example 30/360). - **Days late can differ between screens.** The loan page counts from the oldest unpaid due date plus the grace period. Reports count from the oldest unpaid due date. If you need any additional help, please reach out to helpdesk@lendingwise.com. - [Overview of LendingWise Platform](https://help.lendingwise.com/knowledge/overview-of-lendingwise-platform?hsLang=en#main-content) - [Training & Support](https://help.lendingwise.com/knowledge/overview-of-lendingwise-platform?hsLang=en#training-support) - [Privacy](https://help.lendingwise.com/knowledge/overview-of-lendingwise-platform?hsLang=en#privacy) - [CRM](https://help.lendingwise.com/knowledge/overview-of-lendingwise-platform?hsLang=en#crm) - [Website](https://help.lendingwise.com/knowledge/overview-of-lendingwise-platform?hsLang=en#website) - [Setting Up The Platform](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#main-content) - [Setting up Users and Permissions](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#setting-up-users-and-permissions) - [Main Platform Settings](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#main-platform-settings) - [Creating Your Loan Programs](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#creating-your-loan-programs) - [Setting Up a Webform](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#setting-up-a-webform) - [White Label Setup](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#white-label-setup) - [Website Template Setup](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#website-template-setup) - [Auto-Generate Docs](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#auto-generate-docs) - [Miscellaneous Setup Items](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#miscellaneous-setup-items) - [Setting up Users](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#setting-up-users) - [Email Templates](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#email-templates) - [Automations](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#automations) - [Importing Data](https://help.lendingwise.com/knowledge/setting-up-the-platform?hsLang=en#importing-data) - [Using The Platform](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#main-content) - [Using the dashboard](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#using-the-dashboard) - [Communications and Email](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#communications-and-email) - [Loan Origination](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#loan-origination) - [Inside a loan file](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#inside-a-loan-file) - [Running Reports & Exporting Data](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#running-reports-exporting-data) - [Loan Servicing](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#loan-servicing) - [Lender/Investor Marketplace](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#lender-investor-marketplace) - [CRM](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#crm) - [Integrations](https://help.lendingwise.com/knowledge/using-the-platform?hsLang=en#integrations) - [Frequently Asked Questions](https://help.lendingwise.com/knowledge/frequently-asked-questions?hsLang=en#main-content) - [CRM](https://help.lendingwise.com/knowledge/frequently-asked-questions?hsLang=en#crm) - [LOS](https://help.lendingwise.com/knowledge/frequently-asked-questions?hsLang=en#los) - [Pricing Engine](https://help.lendingwise.com/knowledge/frequently-asked-questions?hsLang=en#pricing-engine) - [Website Template](https://help.lendingwise.com/knowledge/frequently-asked-questions?hsLang=en#website-template) - [Integrations](https://help.lendingwise.com/knowledge/frequently-asked-questions?hsLang=en#integrations) - [Marketing](https://help.lendingwise.com/knowledge/frequently-asked-questions?hsLang=en#marketing) - [Automations Emails and Communication](https://help.lendingwise.com/knowledge/frequently-asked-questions?hsLang=en#automations-emails-and-communication) - [Service and Support](https://help.lendingwise.com/knowledge/service-and-support?hsLang=en#main-content) - [Help Desk](https://help.lendingwise.com/knowledge/service-and-support?hsLang=en#help-desk) - [Managing your Subscription and Billing](https://help.lendingwise.com/knowledge/service-and-support?hsLang=en#managing-your-subscription-and-billing) - [Submit Ticket](https://help.lendingwise.com/knowledge/kb-tickets/new) - [Customer Portal](https://help.lendingwise.com/tickets-view) - [New Releases](https://lendingwise.releasenotes.io/) - [System Status](https://lendingwise.statuspage.io/) [![LendingWise Logo\_600x131](https://help.lendingwise.com/hs-fs/hubfs/LW%20logos/LendingWise%20Logo_600x131.jpg?width=366&height=80&name=LendingWise%20Logo_600x131.jpg "LendingWise Logo_600x131")](https://lendingwise.com) Copyright © 2025, LendingWise