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GTPC Loan Funding Rules Screen

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GTPC Loan Funding Rules Screen

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The GTPC Funding Rules screen is used to set up where funds are credited or debited when certain transactions are run when loans are opened through GOLDTrak PC. This screen is usually set up by GOLDPoint Systems when your system converts over to our system. However, additions and  your institution to set up transactions that will be processed when you open a new loan through GOLDTrak PC. This is an administrative screen and security should only be given to a few people with designated knowledge of the Autopost system. You may need to call your GOLDPoint Systems accounting team member for guidance when setting up this screen.

 

This screen is accessed under GOLD Services > General Ledger in the CIM GOLD tree view, or from the Loans > System Setup Screens, and then select "Funding Rules." Funding rules are different for each institution. See Setup of Loan Funding Rules for more information.

 

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GOLD Services > General Ledger > GTPC Funding Rules Screen

 

The list view at the top of this screen displays all funding rules that have previously been set up for your institution. The Open New Loan transaction (tran code 680) will always be the first rule number in each funding rule set. You can use the Filter Rule field group to the right of this list to sort out the transactions that will be displayed in the list view based on a specified Set number. Select a rule in this list to view and edit that rule's information in the fields on this screen.

 

Press <Create New> to use the fields on this screen to create a new rule. To create a new rule by copying information from an existing one, Use the Copy/Set Rule fields to the right of the list view. Enter the number of the new Set you want to assign and the original rule Number to copy to the new set. Click <Copy> and the information will be displayed in the list view with the new set number and original rule number.

 

You can print a report that shows the details of all of your funding rules by right-clicking and selecting "Printing > Print Preview," or you can send that information to Report Manager by right-clicking and selecting "Export > Export to Report Manager." To delete a funding rule, highlight it in the list view and click <Delete>.

 

The fields on this screen are as follows:

 

Field

Description

Set

 

Mnemonic: AFRSET

This field displays the set number for the loan funding rule. This field will be display-only if this funding rule has previously been set up. If this is a new funding rule (by clicking <Create New Rule>), enter the set number you want to assign this funding rule. The set number is used to group together all of the funding transactions that will be processed when a loan is funded for a particular loan program in GOLDTrak PC. Set numbers will vary from institution to institution and are user defined. This is a required field if entering a new funding rule.

Number

 

Mnemonic: AFPOST

This field displays the number for the loan funding rule. This field will be display-only if this funding rule has previously been set up. If this is a new funding rule (by clicking <Create New>), enter the number you want to assign this funding rule. As funding transactions are processed in GOLDTrak PC they take place in rule number order. The open new loan transaction (debit transaction code 680) must always be assigned rule number 1 in each rule set. All other rule numbers are user defined and may vary from institution to institution. This is a required field if entering a new funding rule.

Description

 

Mnemonic: AFPDSC

In this 30-character field, enter a description of the funding rule. This is a required field.

Name

 

Mnemonic: AFFAST

In this 20-character field, enter the field name for the GOLDTrak field that contains the dollar amount to be used for the transactions you are setting up on this screen. Once you specify a field name, the description assigned to that field in GOLDTrak PC will also be displayed.

 

This field cannot be used if the Good Faith Item Number field (see below) is also being used. Either a Name or Good Faith Item Number can be used to set up a funding rule, but not both. As data is input in either of these fields, the other field is grayed out and cannot be file maintained.

 

If you were setting up the funding rule for the Open New Loan transaction, you could enter the GOLDTrak PC field name "LOAN_AMOUNT" to represent the loan principal balance. Then as the loan is funded, the field name "LOAN_AMOUNT," which contains the dollar amount for the principal balance from GOLDTrak PC, will be matched to the funding rule containing the same field name and the Open New Loan transaction will be processed.

 

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Note: GOLDTrak PC requires that Rule #1 is the Open New Loan transaction (tran code 680).

 

To open any loan with a zero balance (tran code 680 for $0.00), the Field Name "LOC_OPENING_BALANCE” must be used on Rule #1 and the LINE_OF_CR field must be set to "Y" by GTPC personnel. This is normally used for line-of-credit loans (payment methods 5, 9, and 10) or other loans opened for a zero balance.

 

All loans opened with a balance (tran code 680 > $0.00) must use Field Name "LOAN_AMOUNT" for the open new loan transaction.

Field Sequence

 

Mnemonic: AFFSEQ

This field is used in conjunction with the Name field above. The field sequence is used when the same field name appears multiple times. For example, amortizing fees in the Loan system use the same field names but have different field sequences to distinguish various fee codes. Normally the amortizing fee code is used for the field sequence number. It can also be placed in the field number slot on the credit transaction (tran code 910).

Funding Rule Transaction Type field group

 

Mnemonic: AFFCHCK, AFCORR, AFSTAT, AFCASH

Use these radio buttons to indicate whether the funding rule applies to Journal transactions, Cash Transactions, or Check Transactions. The Credit Transaction field group will be unavailable if Cash Transactions or Check Transactions is marked.

 

When Check Transaction is marked in this field group, funding rules will be processed when checks for applications are printed if the user accessed Check Writer from GOLDTrak PC. Funding rules are normally placed near the end of the rule set and are used to match check transactions to the bank account. The Field Name used for this rule is CHECK_TRANSACTION.

 

When this box is selected, the Debit Transaction Code should be "1800" with the applicable G/L Account number for the checks disbursed clearing account. When the funding rule is processed for the CHECK_TRANSACTION field the journal entries would show a G/L debit (tran code 1800) to a checks disbursed clearing account and a credit to the bank account processed through the Autopost.

 

If Check Transaction is selected and the Void Check Funding Rule checkbox field below is marked, funding rules will be processed when checks for applications are voided, if the user accessed Check Writer from GOLDTrak PC. Funding rules are normally placed near the end of the rule set and are used to match check transactions to the bank account. The field name used for this rule is "CHECK_TRANSACTION." The journal entries would show a G/L debit correction (tran code 1800 corr) to a checks disbursed clearing account and a debit to the bank account processed through the Autopost.

Good Faith Item Number

 

Mnemonic: AFGFIN

In this four-digit numeric field, enter the number of the GOLDTrak PC settlement item that should be processed. For example, if you were setting up the funding rule for processing Loan Origination Fees, you would enter the Good Faith Item Number (GFI#) from the GOLDTrak PC settlement statement that represents the Loan Origination Fee. Then as the loan is funded, the GFI# containing the dollar amount for the Loan Origination Fee would be processed through the funding rule with the same GFI# .

 

This field cannot be used if the Name field is being used (see above). Either the Good Faith Item Number or Name can be used to set up a funding rule, but not both. As data is input in either of these fields the other field is grayed out and cannot be file maintained. See below for information about the three methods for processing a GFI#.

 

1.G/L Disbursement – Processing with the G/L Disbursement field (see below) checkmarked should be used when the GFI# amount is to be posted to a G/L account during funding (normally to a payable account that will be disbursed to a third party sometime after funding or to offset an expense previously posted).

 

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Note: The G/L account specified should not be the GTPC Check Clearing account because a check will not be issued at the time of funding using GOLDTrak PC Check Writer. An example of using the G/L Disbursement field when it is checkmarked would be posting a credit to a payable account for appraisal fees and writing a check to the appraiser from this G/L at monthend.

 

2.POC – Paid outside of closing (POC) means the customer paid for this GFI# outside of closing and no funding rule will be processed for this GFI#.

 

3.Fee Check – When the GFI# represents a fee check, the check will be printed from GOLDTrak PC Check Writer at funding. The GTPC Check Clearing account should be used to post the G/L credit.The G/L Disbursement field must be blank for GFI#s that are Fee Checks.

 

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Note: In the rare instance that an institution allows a General Ledger Distribution or a Fee Check for the same GFI# in the same Rule Set, two separate funding rules would be required for correct processing. One funding rule should have the G/L Disbursement field set to a blank box (representing a Fee Check) with the G/L Credit transaction pointing to the GTPC Check Clearing account. Another funding rule should have the G/L Disbursement field checkmarked (representing a disbursement to a G/L) with the G/L Credit transaction normally pointing to a payable or expense account. When the GFI#’s are processed, only the single funding rule that matches both the GFI# and the G/L Disbursement field setting will be posted.

GFE G/L Disbursement

 

Mnemonic: AFGLD

This field indicates whether a Good Faith Item Number (see above) is to be disbursed from the G/L. It is matched with a corresponding indicator on the Item Detail dialog in GOLDTrak PC. Both fields must have matching selections (checked or blank box) for the rule to process. When the G/L Disbursement box is selected on a good faith item number, the Credit Transaction Code must be 1810 to a G/L Account Number.

Debit/Credit Transaction field groups

See Debit/Credit Transaction field groups for more information about these fields.

Changed By/On/At

 

Mnemonic: AFCHBY, AFCHON, ADCHAT

These fields display the person who last made changes to the this funding rule, the date the change was made, and the time the change was made.

 

See also:

General Ledger Autopost Overview

 

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Note: For information on setting up loan funding transaction rules for loan boarded and opened from third-party origination software, see the Loans > System Setup Screens > Loan Funding Transactions help.

 

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Record Identification: The fields on this screen are stored in the GTAF record (Autofunding Rules). You can run reports for this record through GOLDMiner or GOLDWriter. See GTAF in the Mnemonic Dictionary for a list of all available fields in this record. Also see field descriptions in this help manual for mnemonics to include in reports.

 

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In order to use this screen, your institution must:

 

•Subscribe to it on the Security > Subscribe To Mini-Applications screen.

 

•Set up employees and/or profiles with either Inquire (read-only) or Maintain (edit) security for it on the CIM GOLD tab of the Security > Setup screen.

 

•Set up the desired field level security in the GTAF record on the Field Level Security screen/tab.

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