Navigation: Loans > Loan Screens > Account Information Screen Group > Amortizing Fees And Costs Screen >
•Afterhours function 87 must be turned on for the fee amortization to process. This would generally be set to process at monthend. The amortization of fees is processed by a 451-1 transaction and the costs use a 453-1 transaction. These are afterhours only transactions and cannot be processed in the GOLDTeller system. To manually amortize fees and costs, use tran codes 450 and 420 in GOLDTeller. |
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•Institution Option DFAM will amortize only up to the month of the due date. If a loan is delinquent and one or more payments are made, amortization will only occur for the months for which the payments were made, possibly leaving the date last amortized in the past.
Example: A loan has a due date of 6/15 with a payment frequency of 1. It will amortize at 6/30 up to 5/31. (It will only amortize for the loan payments that have been paid.) |
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•Action code 39 will stop amortization up to the action date. |
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•If Institution Option COOP is not set, normal amortization will occur. |
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•If Institution Option COOP is set (greater than zero) and the general category is 81 or 85, the amortization will take all the remaining fees and costs the month the general category changes to 81 or 85. |
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Also see the following amortization options (AMOP) for additional options affecting amortization of costs/fees:
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Fees/costs will not amortize if any of the following conditions exist on the loan:
•If Non-Performing (LNNONP) is checked.
•If General Category (LNGENL) is 80 or greater.
•If Asset Classification (LNACLS) is 4–doubtful or 5–loss.
•If Trading Indicator (LNTIND) is 2 (held for resale) or 3 (held for trading).
•If this is line-of-credit loan (payment method 5) with a zero balance.
Note: If this is a line-of-credit loan (payment method 5) with a zero balance, all remaining fees and costs will be amortized if the Amortize All box is checked. |
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