Loan Screens > Account Information Screen Group > Account Detail Screen > Payment Detail tab > Payment Information field group

Entry: User, numeric

F/M: Yes for payment method 6 loans

Mnemonic: LNPRTL

Screen: Loans > Account Information > Account Detail > Payment Detail tab

This field is for payment methods 3 (precomputed), 5 (consumer line-of-credit), 6 (daily simple interest), 9 (commercial LOC daily), and 10 (commercial LOC periodic). File maintenance is not allowed on this field for payment methods 3, 5, 9, and 10. File maintenance is allowed for payment method 6 loans.

For daily simple interest loans (payment method 6), the amount in this field has already been applied toward the payment due. It appears in the Applied To Payment field to monitor the amount paid in order to know when the payment due date can be advanced. Once a full payment has been applied, the due date will advance automatically.

If more than a full payment is posted, the full amount is credited to the payment, the due date advances by one frequency, and the amount paid which exceeded the payment amount will appear in this field (Applied To Payment). The borrower will then only have to pay the difference between the calculated payment and the amount in the Applied To Payment field in order for the full payment to be satisfied and the due date advanced.

Option: A loan-level option is available that treats any amount paid over the actual payment as a principal decrease, rather than applying it toward the next payment. If less than a full payment is posted, it would go toward the payment due and appear in the Applied To Payment field. This option is only available for daily simple interest loans (payment method 6).