GOLD Services Screens > General Ledger Screen Group > GL Account By Loan Type Screen

Entry: System, numeric

F/M: No

Mnemonic: N/A

Screen: Loans > System Setup Screen > G/L Account By Loan Type screen

This is the General Ledger account number if your institution recaptures dealer reserves and the reserve is debited into this account (tran code 1800). This is the account number from which the funds will be deposited.

To recapture the dealer reserve, you must first set the number of months your institution will allow for recapturing. This option is set up using institution option, DRDR (Months to Recapture). GOLDPoint Systems will set this option to the number of months you request. The number entered in this option reflects months, not days. For example, if "3" is entered in this option, dealer reserve funds can be recaptured if the loan is paid off within three months of the funded date (MRFUND).

•For example, if a loan was funded on January 5th, and "3" is entered in option DRDR, the system could recapture dealer reserve up through the last day of April.

•Three fields on the Loans > Account Information Dealer Information screen in CIM GOLD must also be set up to facilitate dealer reserve recaptures.

oThe Dealer Reserve Capture field is a checkbox field that indicates you do want to recapture dealer reserves for the selected account if the loan is paid off in the amount of time entered in institution option DRDR.

oThe Dealer Participation is populated during loan origination. The Dealer Participation contains the amount your institution gives to this dealer as a commission or payment for generating the loan. This amount can be amortized to expense monthly using the deferred fields as loan payments are made by the dealer’s customer. This amount is also displayed in the Premium Original Fees field (LNPORG) on the Loans > Deferred Fees screen, Premium/Loss tab.

oThe Dealer Reserve Amount field is also populated during loan origination. The Dealer Reserve Amount is the amount held back from the dealer at origination.

These fields can be file maintained on the Dealer Information screen if the CIM GOLD user has the appropriate security.