Loans > Loan Screens > Account Information Screen Group > Call Report Classifications Screen

Use this screen to view and edit information about the selected customer loan account as it will appear in Call Reports (FPSRP315).

The list view on the bottom-right of this screen displays all action codes currently active on the customer loan account, as well as the date the code was placed on the account. Action codes are assigned to individual loans on the Loans > Account Information > Actions, Holds and Event Letters screen.

laicrc_callreportclass

Loans > Account Information > Call Report Classifications Screen

The fields on this screen are as follows:

Field

Description

General Category

Mnemonic: LNGENL

Use this field to indicate the general category of the selected customer loan account. General category codes are reported to the credit bureau and are used on OTS reports. See General Category codes for a list of possible selections in this field.

LIP Method Code

Mnemonic: LNLMTH

Use this field to indicate what interest rate is used to calculate interest and other rules that are followed in processing the customer LIP account. You must make an entry in this field for the LIP to be considered when interest is calculated. Many reports determine if a loan is an LIP using this field. See LIP Method codes for a list of possible selections in this field.

Payment Method

Mnemonic: LNPMTH

This field displays the payment method code of the customer loan account. A payment method code determines how interest is calculated (as well as other rules that are followed in processing a loan). Payment methods are typically set up when the loan is created and should not be changed once the loan is active. See below for a list of possible selections in this field.

Payment Frequency

Mnemonic: LNFREQ

Use this field to indicate the frequency regular payments on the customer loan account. Possible selections in this field are Monthly, Semi-Monthly, Bi-Weekly, and Weekly.

For interest-bearing loans (payment method 6), the payment frequency can be changed on the Loans > Account Information > Payment Information screen. For signature loans (payment method 16), the payment frequency can be changed on the Loans > Account Information > Signature Loan Details screen.

Interest Calculation Code

Mnemonic: LNIBAS

Use this field to indicate to use in calculating interest on the customer loan account. This code is used for all payment methods except 3 (Precomputed). See below for more information.

Possible selections in this field are as follows:

001	365/365 days per year

002	360/360 days per year

003	365/360 days per year

004	360/365 days per year

005*	366/366 days in a leap year

*	Note that for a leap year, if the interest period includes two years, such as 12/15/04 to 01/15/05, the period from 12/15/04 (the leap year) to 01/01/05 will use the 366-day basis and the period from 01/01/05 to 01/15/06 will use the 365-day basis.

The following codes are used to allow the loan's Date Interest Paid to and Date Last Accrued to be other than one frequency behind the Due Date. As payments are made, the loan will simultaneously advance each of these dates one full frequency, and will not require them to stay synchronized. If these codes are not used the system will force the Date Last Accrued and Date Interest Paid to to be one full frequency behind the Due Date for loans that pay over a frequency period.

101	365/365 days per year

102	360/360 days per year

103	365/360 days per year

104	360/365 days per year

105	366/366 days in a leap year

For bi-weekly loans, use 01 or 101, 14 days and a 365-day year. The interest is calculated by the system as follows:

Principal Balance X Interest Rate / 365 X 14

The payment is always due on the same day of the week, such as Monday, Tuesday, etc., and not on the calendar day, such as the 1st, 2nd, etc.

The following criteria explain the interest calculations in the loan accrued interest report.

The total accrued interest for each loan is calculated using the following rules. However, if the loan is payment method 0, the system begins by taking the amount in interest due less interest for one full frequency plus the appropriate following calculation.

If the payment frequency is "01" and the date last accrued is exactly one frequency prior to the end of current month, then:

Accrued Interest = Loan Balance X Interest Rate / 12

If the payment frequency is "01" and the date last accrued is less than one month, then:

Accrued Interest = (Loan Balance X Interest Rate / 12) X Days Accrued / Days In Month

If the payment frequency is "01" and the date last accrued is greater than one month prior to the end of current month, then:

Accrued Interest = (Loan Balance X Interest Rate X # of Full Months Due / 12) + {(Loan Balance X Interest Rate / 12) X # of Days Less Than One Month / # of Days in Current Month}

If the payment frequency is not equal to "01" then:

Accrued Interest = (Loan Balance X Interest Rate X Payment Frequency / 12) X # of Full Payment Frequencies in Accrual Period + {(Loan Balance X Interest Rate X Payment Frequency / 12) X # of Days Short of One Full Frequency} / No. of Days in the Current Frequency.

If this is an ARM loan (payment method 7), the interest calculation will look at the rate change frequency and date. If the loan is in the middle of a rate change, the system will perform the interest accrual based on the old rate up to the rate change date and then use the new rate for the remaining days, in addition to the four criteria listed above for payment method 0 loans.

Accrued Interest

Mnemonic: LNACIN

Use this field to indicate the interest accrued on the selected customer loan account. Open the link below for more information.

This amount includes unpaid interest up to but not including the date last accrued. For interest-bearing and ARM loans (payment method 6 and 7), the accrued interest is usually 0. For conventional loans (payment method 0), the Open Loan transaction (tran code 680) will place the interest in this field. This value does not move from GOLDTrak PC.

The only time there will be a balance in this field is when the loan is amortizing negatively and interest is deferring based on the rate change frequency. This occurs when the Defer Interest at field on the Loans > Account Information > ARM Information screen is set to "Never Defer Interest" or "Rate Roll." This field is file maintained by the system.

A GOLDWriter and variable screen mnemonic (LNACRINT) is available that will accrue loan interest either to or through the current date.

	WARNING: This mnemonic does not use the payoff record. If the current date is not the actual payoff date and you have locked in a payoff record on the Loans > Payoff screen and run a GOLDWriter report using this mnemonic, the accrued interest may be different on the report than it is on the payoff record.

Rule 78 TL Unearned Interest

Mnemonic: LN78CG

Use this field to indicate the amount of interest that has yet to be earned on the selected customer loan account (if the loan is precomputed). This field is updated by the system but can be file maintained.

Deferred Interest

Mnemonic: LNDEFI

This field displays the customer loan account's current amount of deferred interest, if the loan has not yet been assumed and a loan assumption record has been created.

Total Due

Mnemonic: ASBATOTAMT

This field displays the total amount due to pay off the selected customer loan account.

Prior Finance Charge Due

Mnemonic: LNRLPC

Use this field to indicate the sum of all finance charges owed by the customer loan account prior to the last billing period. The system updates this field, but it can be manually file maintained.

Premium Remaining Amount

Mnemonic: LNPREM

This field indicates the remaining premium amount for insurance disbursements on the customer loan account.

Discount Remaining Amount

Mnemonic: LNDREM

This field displays any remaining discounts or promotions available on the customer account. This field is maintained by the system and is not file maintainable.

Fees Remaining Amount

Mnemonic: LNFREM

This field displays the total amount of all fees still due on the selected customer loan account.

Opening Balance

Mnemonic: LNOBAL

Use this field to indicate the balance of the customer loan account when it was first opened. On loans with precomputed interest (payment method 3), this amount will include the loan principal plus the add-on amounts. This field is normally entered through a teller transaction but can be manually file maintained. This field feeds to the New Loan Report (FPSRP023) for TFR reporting.

Principal Balance

Mnemonic: LNPBAL

This field displays the unpaid principal balance of the customer loan account. This field can only be entered, changed, or otherwise affected by teller transactions. It cannot be file maintained through this screen.

An option is available to open a new loan with a principal balance of zero (0) for line-of-credit loans (payment method 5). This option is requested by work order. For more information, see the description for transaction code 680 in Appendix A of the Loans manual in DocsOnWeb. Institution Option 7 SOVC requires a supervisor override when posting a Principal Decrease transaction (tran code 510-47).

LIP Undisbursed Funds

Mnemonic: LNLBAL

This field displays the amount of funds not yet disbursed from a loan-in-process (LIP) customer account. This field is increased by a 510 credit transaction and decreased by a 500 debit transaction, an interest charged transaction, or construction disbursement 430 or 431 transactions from within the GOLDTeller system.

When GOLDWriter mnemonic LNUNDISB is used, this field will display the undisbursed balance for either LIP or line-of-credit loans (payment method 5). This mnemonic enables your institution to display the undisbursed amounts for both LIP or line-of-credit loans in the same column. For LIP loans, the mnemonic will display the LIP undisbursed balance by reading this field. The LIP Method Code must be greater than 0. For line-of-credit loans, the undisbursed amount is calculated as follows: Credit Limit - Principal Balance = Undisbursed Amount.

The value in this field is subtracted from the Total Due (above) when applied. This field is not file maintainable.

Open Date

Mnemonic: LNOPND

Use this field to indicate the date the customer loan account was first opened or funded. The system automatically enters this information when a new loan (tran code 680) is opened through GOLDTrak PC. This field can be file maintained. For precomputed interest (payment method 3) loans, this field is one of the keys for calculating refunds of precomputed interest.

Due Date

Mnemonic: LNDUDT

Use this field to indicate the next date a regular payment is due on the customer loan account.

This field is entered automatically by the system, based on the value in the Payment Frequency field above, but it can be file maintained. For an LIP loan, this is the date to which the payments have been received. For payment method 5 loans with a zero balance, a balance increase transaction will update the loan due date by adding the number of days before the finance charge date to the current run date.

An online error message will appear when file maintenance occurs on this field. If the interest calculation code is a 1, 2, or 3, the system will not allow the due date to be anything except one payment frequency ahead of the date last accrued. For LIP loans with an interest calculation code of 1, 2, or 3 and an LIP method code of 2 or 102, the error message will also appear. The error message will be "NO F/M – DATE LAST ACCRUED NOT 1 FREQ BEHIND DUE DATE."

Note: If a user attempts to change the Due Date or Due Date Day and the system displays an error message, it's likely that certain options are set up for your institution which prevent altering due dates and due date days. See the following institution options for more information:

•CDUR

•DDCD

•DDAO

•DDPF

•DD27

•MDDD

Additionally, some institutions have requested hard-coded restrictions on changing these fields. Contact your GOLDPoint Systems account manager to see if such restrictions are in place at your institution.

Maturity Date

Mnemonic: LNMATD

Use this field to indicate the date the last payment is due and the customer loan account should be paid off. All loans must have a maturity date (except line-of-credit loans) or else the payment cannot be posted. See below for more information.

Date Paid Off

Mnemonic: LNCLDT

Use this field to indicate the date the customer loan account was paid off. This field is updated when a payoff transaction code 580 is processed. A payoff correction code 588 will clear the field.

Institution Option CLZB automatically closes zero-balance line-of-credit loans. At the time the loan is closed, the payoff date is also updated. The Close Loan transaction is a file maintenance tran code 22 to field 999. This transaction is run by the system in the afterhours of the maturity date. It is displayed on the History screen for the account at maturity. The loan will automatically close on the night of the maturity date. If the maturity date is on a weekend or holiday, the loan will close on the night of the first business day following the maturity date.

In order for a loan to mature and then close, the following monetary balances must be zero: principal balance, reserve balance, partial payments, miscellaneous funds, late charges, loan fees, accrued interest, accrued interest on reserves, and accrued interest on negative reserves. In addition, the loan cannot have an LIP Method Code greater than zero.

Adjusted Mortgage Loan field group

See Adjusted Mortgage Loan field group for more information.

Non-Accrual field group

See Non-Accrual field group for more information.

Investor Master Number

Mnemonic: LNIMST

Use this field to indicate the Investor Number for the customer loan account, if applicable.

Investor numbers are set up for your institution on the Loans > Investor Reporting > Investor Master screen and organized into groups on the Loans > Investor Reporting > Investor Group screen. Groups are assigned to individual customer loan accounts on the Loans > Investor Reporting > Loan Investor Fields screen.

Investor Percentage Sold

Mnemonic: LNISLD

Use this field to indicate the percentage of the customer loan that has been sold to the indicated Investor (see above).

Investors are set up for your institution on the Loans > Investor Reporting > Investor Master screen and organized into groups on the Loans > Investor Reporting > Investor Group screen. Groups are assigned to individual customer loan accounts on the Loans > Investor Reporting > Loan Investor Fields screen.

FDIC Percent Covered

Mnemonic: M1PCVD

If the FDIC Loss Sharing field has been marked, use this field to indicate the percentage of loss absorbed by the Federal Deposit Insurance Corporation in regards to the customer loan account.

Pledged for FRB

Mnemonic: LNPFRB

Use this field to indicate whether the selected customer loan account has been pledged to the Federal Reserve Board.

FDIC Loss Sharing

Mnemonic: M1FLOS

Use this field to indicate whether the customer loan account is part of a loss sharing agreement with the Federal Deposit Insurance Corporation (FDIC). Be sure to enter the percentage of loss absorbed by the FDIC in the FDIC Percent Covered field above.

Not US Domicile

Mnemonic: M1NUSD

Use this field to indicate whether any real estate property used as collateral on the customer loan account is not an address within the United States.

Owner Occupied

Mnemonic: LNOWNR

Use this field to indicate whether any real estate property used as collateral on the customer loan account is occupied by the customer.

Has Interest Reserve

Mnemonic: M1HSIR

Use this field to indicate whether an interest reserve has been designated for the customer loan account.

Interest reserves can be established by creditors to ensure that interest is paid on on a loan by designating a portion of the loan for use in paying accrued interest.

Interest Rate Concession

Mnemonic: M1IRCN

Use this field to indicate whether the customer loan account has been given an interest concession (see the Call Report help manual for more information).

An interest concession is a reduction of the interest rate charged on a loan (compared to commercial interest rates). Such concessions are typically provided by government agencies or grants.

Record Identification: The fields on this screen are stored in the FPLN, FPM1, and FPL3 records (Loan Master, Miscellaneous Loan Record Fields, Loan Teller Processing). You can run reports for these records through GOLDMiner or GOLDWriter. See FPLN, FPM1, and FPL3 in the Mnemonic Dictionary for a list of all available fields in these records. Also see field descriptions in this help manual for mnemonics to include in reports.