Navigation:  Loan Screens > Account Information Screen Group > Additional Loan Fields Screen > Origination/Maturity tab > Broker Fee

Entry: System, numeric

F/M: Yes

Mnemonic: LNBFEE

Screen: Loans > Account Information > Additional Loan Fields > Origination/Maturity tab

 

This field contains the amount paid to the broker who brought this loan to the institution. If the broker fee is more than $599.99, then the record will be transferred to the IRS GOLD system. The amount is reported on the IRS 1099-MISC form if the Report Original Loan Fees to IRS? field is checked.

 

WARNING: You must have the broker information set up on the Loans > Payee Information screen.