Navigation:  Loans > Loan Screens > Credit Reporting  > General Reporting Information > Conversions and Acquisitions

Reporting a loan that has been acquired or accounts that have newly been converted onto the GOLDPoint Systems system is accomplished in two steps.

 

The Credit Reporting screen, Reporting Codes & Original Information tab has a field for the Old Account Number and a place for the name of the Original Creditor Name.

 

The account number that was previously used in credit reporting should be in the Old Account Number field. The institution name or the name of the original credit grantor should be entered in the Original Creditor Name field. The first time the credit reporting record is created, the old account number will be pulled from LNOLD#. (The old account number (LNOLD#) is a field which is used at conversion or acquisition time. It is not displayed on any screen; but once the new credit reporting record (screen) is created, it will be pulled into this field.)

 

•If the Originated field on the Loans > Account Information > Additional Loan Fields screen, Origination/Maturity tab is selected, at monthend, your institution name is entered in the Original Creditor Name field the first time the credit reporting record is created.

 

•If the Purchased field on that tab is selected, you can enter the original creditor’s name in this field. (This would be used if you acquired the loan from another institution.)

 

The conversion date and the blank Credit Bureau status indicator (no credit reporting record has been created) will cause the system to report the old number as the account number and the GOLDPoint Systems number as a number change.

 

For loans acquired and converted manually, you will enter the date converted. For loans converted by GOLDPoint Systems, the system will enter the date. GOLDPoint Systems orders coupons beginning with the conversion date.