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Bankruptcy/Delinquency fields

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Bankruptcy/Delinquency fields

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The fields in this unlabeled field group on the Delinquent Payments tab are explained in the table below.

 

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Field

Description

Bnkrptcy Chptr

 

Mnemonic: BKCHAP

If this account is in bankruptcy, this field will display the type of bankruptcy this account owner has filed known by the title of the Chapter of the Federal Bankruptcy Act. A loan is flagged as bankrupt using the Loans > Bankruptcy screen in CIM GOLD. See below for a list of possible bankruptcy chapters.

 

Chapter 7: A court-appointed trustee collects the individual’s assets. The trustee sells the assets for cash and pays the proceeds to the individual’s creditors. Assets that are exempt under federal or state law do not have to be liquidated. Once the Chapter 7 process is final, the filing cannot be repeated for six years.

 

Chapter 11: This is targeted to larger businesses, but individuals may also use this reorganization plan. Chapter 11 is similar to Chapter 13, but with more requirements. However, if all a debtor needs is a plan to pay off debts, then a Chapter 13 or Chapter 11 is preferable, rather than a Chapter 7, particularly when trying to reestablish their creditworthiness.

 

Chapter 12: This is a voluntary bankruptcy designed for farmers and fisherman with steady income. However, there are exceptions for farmers and fisherman with seasonal income. This type of bankruptcy allows the debtor to establish a plan to pay off all or part of his debts over an established period of time.

 

Chapter 13: This is for an individual debtor with a steady source of income. It can also be used by small businesses. Under the Chapter 13 plan, the debtor must settle his debts over a three to five year period. Under Chapter 13, the debtor is allowed to keep his property. At a confirmation hearing, the court either approves or disapproves the plan. There are no time restrictions on when a Chapter 13 can be filed.

Bnkrptcy Date

 

Mnemonic: BKFILD

This field is used if the borrower has filed for bankruptcy. This is the date the bankruptcy was filed in the Courts. This information is entered on the Loans > Bankruptcy and Foreclosure > Bankruptcy screen.

Misc Fields

 

Mnemonic: QAHOLD

These file-maintainable user-defined fields are only available for collection purposes. They can be used as selection criteria for variable Collection Queue setups or for whatever purpose your company wants.

Last Pmt

 

Mnemonic: LNDTLP

This field shows the date that the last payment was posted. If a payment reversal occurs, the system will look in the collection history for the previous last payment date and enter that date in this field. The last payment date is reported to the Credit Bureau during the Credit Reporting process. This field is not file maintainable. It is updated as payment activity occurs on the loan.

 

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Note: If institution option NDLP is not set and a deferment was recently run, this field will display the deferment date.

Collector

 

Mnemonic: LNCTOR

This field contains the collector number assigned to the loan. The number represents a collector within your company. Collectors are assigned when you access the Contact tab of this screen.

 

To set up which queues collectors are responsible for, your administrator must set up the Queues > Collection > Collector Queue Setup screen.

Next Follow-up

 

Mnemonic: N/A

This is the date when an employee at your institution has scheduled to follow-up with this account owner to bring the loan current, as entered by employees on the Contact tab.

Days Late

 

Mnemonic: CLXLO2

This field shows the number of days the account is past due. The field is calculated by subtracting the loan due date from the current day. The day of the due date is not included.

 

Example: On 4-17 the loan had a due date of 3-1. The Days Late field would display 47; that is 30 days in March and 17 days in April. March 1st is not counted. This is calculated online; therefore, it is not file maintainable and it cannot be used in reports via GOLDWriter.

 

See the Delinquency radio buttons help for information on how the number in this field may be effected by delinquency grading.

CQ Collector

 

Mnemonic: QICTOR

This field displays the collection queue to which the account was assigned during the last afterhours processing. Each night during the afterhours processing, the system determines which collection queue the loan will appear in based on the queue setup criteria. Based on the queue criteria, a loan may be in one queue number today and a different one tomorrow, etc. The queue number is not an actual field on the loan record; therefore, it is not file maintainable and it cannot be included in GOLDWriter reports.

 

For more information on how to set up queues and how employees access queues, see the Collection Queue Administration section and Collection Queues section in the CIM GOLD User's Guide.

Dlnqnt Cat

 

Mnemonic: LNDCAT

This field holds the delinquent category of the loan. See below for more information.

 

When the afterhours update function Update Delinquent Category (82) runs, the delinquent category is set. This happens at monthend. The delinquent category will not change again until the update function is run again.

 

The update function classifies loans by counting the number of installments necessary to bring the loan current. If, for example, you have a loan due in November and the update function runs each monthend, on November's monthend the loan would owe one installment. Owing one installment is considered less than 30 days delinquent. Owing two installments is considered 30 days delinquent. If no payments are received before December's monthend, the delinquent category is set to 30. On January's monthend, it is set to 60, and so on. Valid categories are 0, 30, 60, 90, and 120 and over.

 

If Institution Option ODCT, Use Other Delinquency Table, is set and the loan is delinquent one installment, it is considered a category 30. If the loan is delinquent two installments, it is a category 60; three installments, category 90; four or more installments, category 120.

 

If Institution Option UDQG, Use Delinquency Grading, is set and the late charges plus the "applied to" is greater than or equal to the payment amount, the due date will be artificially advanced as many payments as possible, then the Dlnqnt Cat field will be calculated.

 

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GOLDPoint Systems Only: When the afterhours update function Update Delinquent Category (82) runs, the delinquent category is set. Typically this will be at monthend. The delinquent category will not change again until the update function is run again.

 

For the Update Delinquent Category function, the When to Run field should be set to "CYC31B."

 

When accounts become more than 93 days delinquent, they may be flagged as non-performing. Non-performing loans will appear on the regulatory reports as non-performing. An asterisk (*) will appear next to the loan on the Loan Accrued Interest Report (FPSRP019) and totals for non-performing loans will be given.

 

An option (Afterhours Update Function 59) is available that automatically changes performing loans to non-performing loans if the loan is 93 or more days delinquent. This change takes place only at monthend. Each month, for all loans that exceed being delinquent by 93 days, except for loans with general categories 50 through 69 (securities), the system will flag the account as "Non-preforming." If the loan becomes less than 93 days delinquent, the system removes the flag. The system does not look at payment method 5 loans with a zero principal balance. If you would like this option set up for your institution, send in a work order with your request.

 

An institution option (OPTV NPDY) is available that allows you to control how many days delinquent a loan must be before it is automatically classified as non-performing. If this option is not used, the system will use 93 or more days.

 

Action Code 59 (Do not update non-performing loan) stops the system from flagging the account as non-performing on a loan-by-loan basis, if the option mentioned above (Update Function 59) is used. No action date is required.

Chrg Off Rsn

 

Mnemonic: N/A

This is the reason why part or all of this loan was charged off, if applicable. Loans are charged off using the Loans > Transactions > Charge Off Transactions screen or through GOLDTeller with transaction code 2022-01 (full write-offs use transaction code 2510-05). When a loan is charged off, a reason for the charge off can be entered in the Charge Off Reason field on the transaction. If a reason is entered in that field, then the reason will also appear in this field.

 

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Note: If Institution Option CORR is set up for your institution, employees are required to enter a charge off reason before processing the Charge Off transaction. If you have the proper security, you can establish reasons for charge offs using the Loans > System Setup Screens > Charge Off Reason Codes screen. From there, you can create new charge off reasons.

Status

 

Mnemonic: QADSCD

In this field, the system enters a code to indicate the status of the delinquent loan. The code and status are reported to FNMA or other associated companies. The number that is entered in this field comes from an entry made by the collector in the Comment Code field on the Contact tab of this screen.

Reason

 

Mnemonic: QADRCD

This is the FNMA-defined delinquency reason codes stored in the Collection system. This field will only be populated for delinquent loans.

Recency Cat

 

Mnemonic: MRRDCC

This is the recency category code. See Recency Cat for more information.

Last Recency

 

Mnemonic: MRDLRD

This is the date of the last recency. Recency refers to the last full payment on the loan. If the first full payment has not been made on a loan, the system will use the date the loan was opened as the Last Recency date. If institution option UORC is set, the Recency Date will be the monthend of the month the Open Loan transaction (tran code 680) was processed. If the first full payment was made and then retracted, the Last Recency date will revert back to the date the loan was opened as the Last Recency date.

 

Loans that have a calculated recency date that is greater than or equal to the run date of the Daily Detail Delinquency Report (FPSRP274) will not have a recency status and will not be included in the Recency Delinquency totals.

 

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Note: If the graded contractual delinquency code (LNWCDQC) is less than 30, then the recency code is automatically assigned a code of 30.

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