Teller System > Transactions > Loan Transactions > Loan Transaction Codes

When running this transaction in GOLDTrak PC, you must use field codes to indicate which field you are debiting. When running this transaction in GOLDTeller, you should use the appropriate modifier to indicate which field you are debiting. For a list of 500 modifiers, see Field Codes below.

This transaction is generally used when a loan is opened and the first payment is due the next month instead of two months later. For example, the loan is opened in October and the first payment is due in November. In this scenario, you would run this transaction to credit back to the borrower a portion of the interest for the month of October that would be collected with the November payment.

•Field code 55 (deferred interest) tells the system that you want funds applied to deferred interest for negative ARM loans.

•Transactions in the 500 range should never be used with reserves to disburse funds. Only use tran code 440 or 640 for reserve disbursements.

•The Check Out number or Journal Reference Number can be used to record the check number in history.

•Contract collections will not work for field debits. If the loan is increased, you could increase the loan amount of the original principal on the seller record. If a 500 transaction is processed on the buyer’s loan, the transaction will show on the Afterhours Processing Exception Listing (FPSRP013).

•Field code 45 tells the system that you want funds applied to Remaining Costs; field code 39 to Remaining Premium/Loss; and field code 31 to Remaining MSRs.

•When a field debit to principal or interest is processed, the current loan due date will display with the transaction in History. This is necessary so investor reports can determine if the debit was processed on a delinquent account. Note: This is different from most fields that write to history, as they only display information that is changed. In this case, the due date did not change–it is only displayed for reporting purposes.

•An option, OP02 APML, allows a principal increase to be processed if a loan is past the maturity date. It requires a supervisor override (SOV).

•If the loan is a daily simple interest (payment method 6) and a principal increase is attempted, a teller warning message "SOV ADVANCE NOT INTENDED FOR PMTH 6" will appear. This requires a supervisor override (SOV).

•Charged off loans (hold code 2). If a loan has a hold code 2 (charge off), a principal increase is not allowed (all payment methods). However, an institution option, OP03 ACCO, is available which, when set, will allow a principal increase on charged-off loans.

•OP09 BSPC allows this transaction to run under the following circumstances without an SOV: Due date in the past – curtailment disallowed. Advances not intended for payment method 6.

•OP16 NINS stops the requirement for an SOV to be sent when a field debit to interest (tran code 500 to field 54 (check) or 57 (journal)) is posted to a loan with a payment method of 0, 3, or 7 (amortizing or precomputed loans).

Field Codes

The following field debit and credit codes are used with tran codes 500 (debit) and 510 (credit). If debiting deferred interest, for example, you would use tran code 0500-55. See Appendix B - GOLDTrak PC Field Numbers for more information.

Field Code/Modifier	Description
31	Remaining MSRs (can also F/M) (tran code 510–credit)
33	Partial payments (not on simple interest loans)
37	Remaining discount/gain (can also F/M) (tran code 510–credit)
39	Remaining premium/loss (can also F/M) (tran code 510–credit)
47	Principal balance (For principal decreases, if institution option 7 SOVC is set to “Y,” whenever a principal decrease transaction (tran code 510) is attempted, the system will require a supervisor override (SOV).) Any time a field credit (tran code 510 or 518) or debit (tran code 500 or 508) to principal or interest is processed, the current loan due date will display with the transaction in history. This is necessary so investor reports can determine if the credit or debit was processed on a delinquent account. Note: This is different from most fields which write to history, as they only display information which is changed. In this case, the due date did not change–it is only displayed for reporting purposes.
50	Debit field to principal (searches stop payment record; should be used on LOC loans with write check against option set to “Y”)
53	Accrued interest – interest only payments (payment methods 1, 5, 6, and 8) Both Field Codes 53 and 54 are the same field, but they are titled differently depending on the payment method code. However, both fields are titled ACC INT in the history screens. Any time a field credit (tran code 510 or 518) or debit (tran code 500 or 508) to principal or interest is processed, the current loan due date will display with the transaction in history. This is necessary so investor reports can determine if the credit or debit was processed on a delinquent account. Note: This is different from most fields which write to history, as they only display information which is changed. In this case, the due date did not change–it is only displayed for reporting purposes.
54	Interest due – interest-only payments (payment methods 0, 2, 3, and 7) Both Field Codes 53 and 54 are the same field, but they are titled differently depending on the payment method code. However, both fields are titled ACC INT in the history screens. Any time a field credit (tran code 510 or 518) or debit (tran code 500 or 508) to principal or interest is processed, the current loan due date will display with the transaction in history. This is necessary so investor reports can determine if the credit or debit was processed on a delinquent account. Note: This is different from most fields which write to history, as they only display information which is changed. In this case, the due date did not change–it is only displayed for reporting purposes.
55	Deferred interest
62	Reserve 1 balance (tran code 510 only)
71	Reserve 2 balance (tran code 510 only)
98	LIP undisbursed balance
99	LIP customer balance
102	LIP accrued interest (affects LIP YTD Interest field)
107	Subsidy balance
142	Miscellaneous funds
235	Remaining fees (can also F/M) (tran code 510 - credit)
51245	Remaining costs (can also F/M) (tran code 500 - debit)

Corrections/Reversals

When processing a correction or reversal, the tran code will have an “8” at the end. For example, if you processed a loan payment (tran code 600), a reversal or correction would be tran code 608, a field credit (tran code 510) would be 518, etc.

When reversals are processed, the system reads the history to determine the dollar amounts for each part of the transaction. For example, if a loan payment credited money to principal, interest, reserves, and late charges, the system reads the history to reverse everything exactly the way it was posted. It also requires items to be reversed in the exact order they were posted.

This is true for field credits and debits also (500 and 510 tran codes).