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Coupon/Billing Cycle codes
Once information is entered in the Finance Charge Code field, the Coupon/Billing Cycle field displays the cycle by which the coupon or bill and receipt statement on the customer loan account will be printed. This field also determines whether a loan should receive a year's worth of coupons, coupons for the life of the loan, coupons up to the next P-I change date, or coupons to the reserve analysis date.
You are not allowed to enter data in this field on payment method 5 loans. For more information about coupons, see the Coupons help page.
Note: For codes 001 through 003, you must manually order the coupons through a teller transaction or through the Loan system. If you use an administrative terminal, you must enter the appropriate Action Code on the Loans > Account Information > Actions, Holds and Event Letters screen. When ordering through a teller terminal the transaction places the action code "100" on the desired loan. |
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Possible cycle codes in this field are as follows:
CODE |
DESCRIPTION
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000 |
No coupons or bill and receipt unless done online.
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001 |
Creates coupons from due date to the reserve analysis effective date. On payment method 7 where a reserve constant is present, coupons will be printed to the earliest of the P-I Constant Change Date or the Reserve Analysis Date. For loans with no reserve constant present, the coupons will print to the P-I Constant Change Date. If there is no reserve analysis date, the default is 02-01.
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002 |
Coupons ordered to the earliest of the P-I Constant Change Date or the Reserve Analysis Effective Date, regardless of whether the loan has a reserve constant or not. For loans with no reserve constant present, the coupons will print to the P-I Constant Change Date. If there is no reserve analysis date, the default is 02-01.
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*003 |
Coupons are ordered for the life of the loan.
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004 |
Coupons are ordered for four years. For coupons ordered for four years with cycle code 004, the system uses the first due date and adds 48 months to determine the number of coupons to print.
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101 |
Same as 001 except the system will order the coupons automatically based on the opening of the loan (transaction code 680). Will also automatically generate coupons when a payment change takes place.
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102 |
Same as 002 except the system will order the coupons automatically based on the opening of the loan (transaction code 680). Will also automatically generate coupons when a payment change takes place.
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*103 |
Same as 003 except the system will order the coupons automatically based on the opening of the loan (transaction code 680). Will also automatically generate coupons when a payment change takes place.
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104 |
Same as 004 except the system will order the coupons automatically based on the opening of the loan (transaction code 680). Will also automatically generate coupons when a payment change takes place.
For coupons ordered for four years with cycle code 104, the system uses the first due date and adds 48 months to determine the number of coupons to print.
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* For life-of-loan coupons (codes 003 and 103), the system uses the first due date and adds the term to determine the number of coupons to print. (Generally, the first payment date and the due date are the same. However, if payments have already been made, the coupons will begin with the current due date.) The last coupon will not print a payment amount, but will print the message, "Please call loan department for final payment figure."
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200 |
Free Format Statement or Payment Method 5 Billing Statement. Print for next month when run.
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200 to 230 |
The second and third digits of this code indicate how many days before the due date to bill the loan (e.g., 210 will bill 10 days before the due date).
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250 |
Grace days plus 1: e.g., 250 will bill during the afterhours of the 17th of the month if the due date was the first of the month and the loan had 15 grace days (i.e., due date = 5/1/00 + 15 grace days = 5/16/00 + 1 = 5/17/00 afterhours). |