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Credit Reporting & Loan Information tab

Navigation:  Loans > Loan Screens > Credit Reporting  > Credit Reporting Screen >

Credit Reporting & Loan Information tab

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The Credit Reporting & Loan Information tab on the Loans > Credit Reporting screen is used to enter and view credit reporting and loan information for the account.

 

See the following example of this tab, followed by links for definitions of the fields on this tab:

 

Loans > Credit Reporting Screen > Credit Reporting & Loan Information Tab

Loans > Credit Reporting Screen > Credit Reporting & Loan Information Tab

 

The fields on this tab are as follows:

 

Field

Description

Current Balance

 

Mnemonic: BUPOBL

The Current Balance on the Credit Report and transmission reflects the entire loan amount required to pay off the loan, including late charges, interest, and miscellaneous fees, as of the monthend date. Each monthend when the Credit Reporting screen is updated, the system enters the payoff amount into the Current Balance field, and that is the amount reported to Credit Bureaus using the Credit Bureau Report and transmission file (FPSRP184). The Current Balance is displayed in the Base Segment of the report and transmission.

Amt Paid This Month

 

Mnemonic: BUAPTM

This field displays the to-date amount the borrower paid during the current month on the loan. You cannot make changes to this field; it is updated by the system when payments are made. See below for more information.

 

This field is updated at monthend when the Credit Bureau Update is run.

 

A field called Loan Amount Paid this Month (LNAPTM) is updated by the system each time specific teller transactions are run and account balances are added to or subtracted from based on those transactions. The list of transactions that affect this field are shown in the following table.

 

Tran Code

Description

550

Late charge payment

558

Late charge payment reversal

580

Payoff

588

Payoff reversal

600

Payment

608

Payment reversal

690

Spread payment

698

Spread payment reversal

850

Miscellaneous fee payment

858

Miscellaneous fee payment reversal

 

When the Credit Bureau Update runs at monthend, the system pulls the information in LNAPTM and places it in the Amt Paid this Month field (BUAPTM) on the Credit Reporting screen. The LNAPTM field is then cleared to 0.00 to start the next month’s payment tracking.

 

This amount is then reported to the credit repositories through the Credit Report transmission (FPSRP184). When the Credit Bureau Report and transmission (FPSRP184) runs, the system takes the amount in BUAPTM, truncates it to whole dollars, and puts the whole dollar amount in the Actual Payment Amount field (Base Segment field 16).

 

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Note: Reversals that happen for transactions from a previous month are not tracked. Only reversals for transactions that happen in the same month as when the Credit Bureau Update is run will be subtracted from LNAPTM.

Scheduled Payment

 

Mnemonic: BUSCPM

This is the scheduled payment amount. This is reported in Base Field 15 (Scheduled Monthly Payment Amount) of the Credit Report transmission (FPSRP184) at monthend. This field is calculated as of monthend as follows:

 

•P/I Constant - Subsidy Balance (if the loan has any subsidies)

•If the loan has reserves, then the payment amount is calculated as Reserve Constant 1 + Reserve Constant 2 - Subsidy + P/I Constant.

 

CDIA guidelines require this amount to be in whole dollars. The amount will be truncated (not rounded) and will not show any decimals.

 

Note: If the account has been charged-off, this amount will be zero (0). Also, deferments will be reported with 0.

Credit Limit

 

Mnemonic: BUCRLM

This file-maintainable field is for line-of-credit loans (payment method) and is pulled from the Line-Of-Credit Limit field on either the Loans > Account Information > Consumer Line-of-Credit or Loans > Line-of-Credit Loans screen (depending on what type of line-of-credit this is) as of monthend. File maintenance to this field writes to Loan History.

High or original amount

 

Mnemonic: BUHOAM

The system updates this field each time the monthend Credit Reporting Update program runs. See below for more information.

 

This field is included in the Base Segment (Field 12) of the Credit Reporting Report and Transmission (FPSRP184), which is sent to credit repositories each month. You should not make changes to this field after the transmission has been sent. If you do make changes after the transmission is sent for the month, the changes will not keep, because the Credit Reporting Update will overwrite your changes with new information the next month it is run.

 

Information in this field is reported in the Highest Credit or Original Loan Amount field in the Base Segment (Field 12) of the report and transmission (FPSRP184). The system pulls different information for this field depending on what type of payment method the account is.

 

•The system uses the highest balance field (LNRLHB), if the loan is a line-of-credit (payment method 5) account. The Teller system looks at the loan balance each time an account is updated. If the loan principal balance is higher than the amount in LNRLHB, then when the system updates, the LNPBAL goes into LNRLHB to be reported to credit repositories.

 

•For all other payment methods, the system uses the Face Amount (LNFACE) in this field (except institution 360, which uses original balance (LNOBAL)).

 

•If nothing is in the Highest Balance field, the system uses the line-of-credit-limit (LNRLCL) for payment method 5 loans.

 

File maintenance to this field writes to Loan History.

Amount Past Due

 

Mnemonic: BUAMPD

This is calculated based on the payment method, number of payments past due, and each month’s scheduled payment, plus all late charges and fees as of monthend. A past due payment is any payment that has not been made after 30 days from the Due Date. Grace days are not included.

 

This field is pulled from the Total Due field on the Loans > Account Information > Account Detail screen > Payments tab.

 

If the account is current (Account Status is 11), the Amount Past Due will be "0."

 

Additionally, accounts that are in deferment are reported with Amount Past Due as "0" if the account was current before a deferment is run. If the account was delinquent before the deferment, it will continue to report the applicable Amount Past Due.

 

If the Account Status (see below) is 97 (charged off), this field reflects the payoff amount in whole dollars. Any decimal amounts are dropped (not rounded). This field is cleared if the loan has a confirmed bankruptcy of a Consumer Information Indicator of "H" (discharged Bankruptcy 13).

Original Charge Off

 

Mnemonic: BUOGCO

The original charge-off amount is updated by the system at monthend. If a hold code 2 (charge off) is present in either of the Hold Code fields and there is a valid charge-off date in the Charge Off Date field (LNCODT), the system will put the amount of the Partial Charge-Offs field (LNCOBL) in this field. File maintenance to this field writes to loan history.

 

The charge-off date must be entered once a foreclosure, repossession, or charge off occurs. (See Coding of Derogatory Credit Status.)

Account Type

 

Mnemonic: BUACCO

The Credit Bureau account type is determined based on the loan as of monthend. Examples of an account type are as follows:

 

01Unsecured
02Secured
04Home improvement
19FHA real estate mortgage
26Conventional real estate mortgage

97     Charged Off

 

The system pulls information into this field based on the account's insurer codes, collateral codes, and General Category. This field is reported in Field 9 (Account Type) of the Base Segment of the Credit Report transmission (FPSRP184). See the Credit Bureau Type (Account Type) topic for more information.

Account Status

 

Mnemonic: BUCBRS

The Credit Bureau account status is determined by the status criteria discussed. (See Credit Bureau Status (Account Status).) File maintenance writes to loan history. See below for more information.

 

Account statuses are as follows:

 

5*Account transferred to another office
11Account current
13*Paid or closed account/zero balance
61Paid in full—was a voluntary surrender
62Paid in full—was a collection account
63Paid in full—was a repossession
64Paid in full—was a charge off
65*Paid in full—foreclosure was started
7130 days past due
7860 days past due
8090 days past due
82120 days past due
83150 days past due
84180 days or more past due
88*Claim filed with government for insured portion
89*Deed in lieu of foreclosure
93Account assigned to collections
94*Foreclosure completed
95*Voluntary surrender
96Repossession—may have a balance due
97Charged off. Once a charged-off account is paid off, the status changes to 64.
DADelete account. The system automatically applies this status to loans that are retracted (LNCLSD = Y and LNRNST = Y)

 

*If the status is 5, 13, 65, 88, 89, 94, or 95, then a Payment Rating (see below) should also be reported.

 

For closed accounts (account status codes 13, 61-65), the account is only reported as closed the first month after the account is closed. It is not reported any subsequent months following that.

Payment Rating

 

Mnemonic: BUPTRT

The payment rating identifies whether the account is current or past due at monthend. It must be reported if the CB Account Status (see above) is 5, 13, 65, 88, 89, 94, or 95. See below for more information.

 

For loans with due dates other than the first of the month, it reports the number of days the loan was delinquent the night prior to the due date.

 

Payment Rating Code

Payment Rating Description

0

Payments not past due (current)

1

30-59 days past due date

2

60-89 days past due date

3

90-119 days past due date

4

120-149 days past due date

5

150-179 days past due date

6

180 or more days past due date

 

If your institution uses the graded due date (SVDUDT), the system will use that date instead of the loan due date (LNDUDT). See Special Delinquency Calculations for Consumer Loans for more information.

Special Payment Indicator

 

Mnemonic: BUSPPI

The special payment indicator identifies special payment terms, such as balloons or single payment loans. If the loan is coded with a maturity modifier of 1 (balloon) or 2 (single payment) or an action code of 1 (balloon) or 18 (single payment), "1" will be placed in this field when the screen is updated each monthend. File maintenance to this field writes to loan history.

Due Date

 

Mnemonic: BUBUDT

This is the loan due date as of monthend.

Date 1st Delinquent

 

Mnemonic: BUDFDL

Delinquency is calculated based on whole days. Date of first delinquency is placed on an account when the payment has not been made after 30 days from the Due Date. See below for more information.

 

This is one of two dates pulled from action code dates at monthend.

 

1.The action date connected to action code 194 (date of first delinquency). This date must be in the past.

 

or

 

2.If both action code 94 (date of occurrence) and 194 (date of first delinquency) are present on the loan, the date associated with action code 94 is used. The process the system goes through in establishing the action code 194 and date is discussed in Coding of Derogatory Credit Status.

 

File maintenance to this field writes to loan history.

 

The Date of 1st Delinquency is reported in Base Field 25 of the Credit Report transmission (FPSRP184).

 

This date is also used to determine when charged-off loans stop being reported to credit repositories. Charged-off accounts are no longer reported to credit repositories after 84 months (7 years). So if the Date 1st Delinquent was 01/01/2010, the charged-off account would be reported every monthend for 84 months. On 02/01/2017, the account would no longer be included in the Credit Report transmission (FPSRP184).

Date Closed/Open

 

Mnemonic: BUCLDT, BUOPND

The Closed date is the date the loan was paid off or closed due to zero balance. See below for more information.

 

This date must be in the past. When a loan closes, the account is reported as “paid in full” the following month. A Credit Bureau status of 13 (paid or closed account/zero balance) will be reported unless there is a Hold Code 1, 2, 6, 91, 92, 93, 94, 95, 96, 97, or 98. File maintenance to this field writes to loan history.

 

The loan is only reported for 90 days after being paid off. For example, if the loan is paid off on April 15, it would be reported as “paid in full” on the transmission created through July 15. It would not appear on any transmissions thereafter.

 

During the Credit Reporting process, the system uses the date in this field and puts it in the Date Closed field in the Base Segment of the transmission sent to credit repositories (FPSRP184).

 

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WARNING: If you use the Payoff transaction to remove a loan that was repossessed, foreclosed, etc., and you do not use the correct hold codes and general category, you are not reflecting a derogatory status. See Coding of Derogatory Credit Status for more information.

 

The Open date is the date the loan was opened as of monthend. This date indicates to the credit repository that this is a new loan; therefore, once the loan has been opened, it should not be changed.

Maturity Date

 

Mnemonic: BUMATD

This is the maturity date as of monthend. The system will pull the date associated with the action code 1 (balloon payment due) or 18 (final payment due), if different from the maturity date.

Date Last Paid

 

Mnemonic: BUDTLP

This is the date the last payment was made (LNDTLP) as of monthend. An option is available that causes the Date Last Paid to not be updated when a payment is made on a loan that is in deferment. Deferment payments are made either through Loans > Transactions > EZPay or CP2 screen or through GOLDTeller transaction code 2600-13. If you would like this option set up for your institution, send in a work order with your request or talk to your GOLDPoint Systems account manager that you want Institution Option OP23-NDLP enabled.

 

For more information, see the Deferment Transactions in the Transaction Manual in the CIM GOLDTeller User's Guide.

Term Duration/Frequency

 

Mnemonic: BUTERM/BUFREQ

The Term Duration field displays the length of the loan term in days.

 

The Term Frequency field displays the payment frequency pulled from the Payment Frequency field on the Loans > Account Information > Payment Information screen or the maturity modifier (LNMATM) at monthend. See below for more information.

 

Appropriate payment frequency codes include the following:

 

CODEDESCRIPTION OF FREQUENCY CODE

 

1Monthly payment
2Bi-monthly payment (every 2 months)
3Quarterly payment (every 3 months)
4Payment every 4 months
6Semi-annual payment (every 6 months)
12Annual payment
26Bi-weekly (every 2 weeks)

Payment Method

 

Mnemonic: BUPMTH

This is the payment method as of monthend. The Payment Method is pulled from the Loans > Account Information > Account Detail screen, Account tab.

General Category

 

Mnemonic: BUGENL

This is the general category as of monthend. This information is pulled from the Loans > Account Information > Account Detail screen, Account tab. What is entered in this field affects how the Account Type is recorded in the Credit Bureau Report and transmission file (FPSRP184) sent to Credit Bureaus. See the Credit Bureau Type (Account Type) topic for more information.

Origination Code

 

Mnemonic: BUORIG

This is the origination code as of monthend. This is pulled from Origination Code field on the Loans > Account Information > Additional Loan Fields screen, Origination/Maturity tab.

Insurer Code

 

Mnemonic: BUINSU

This is the insurer code as of monthend. This field is pulled from the Loans > Accounts Information > Additional Loan Fields screen, Classification/Purpose tab at monthend. This is the type of insurer. What is selected in the Insurer Code field affects how the Account Type is recorded in the Credit Bureau Report and transmission file (FPSRP184) sent to Credit Bureaus. See the Credit Bureau Type (Account Type) topic for more information.

Collateral Code

 

Mnemonic: BUCOLL

This is the collateral code as of monthend. The Collateral Code is pulled from the Loans > Account Information > Additional Loan Fields screen, Origination/Maturity tab.

 

What is selected in the Collateral Code field affects how the Account Type is recorded in the Credit Bureau Report and transmission file (FPSRP184) sent to Credit Bureaus. See the Credit Bureau Type (Account Type) topic for more information.

Hold Code 1-4

 

Mnemonic: BUHLD1-4

These are the hold codes on the Loans > Account Information > Account Detail screen, Account tab as of monthend. These hold codes are used to adjust the CB status of the loan.

 

See also: Coding of Derogatory Credit Status > Hold Codes

Report to Credit Bureau

 

Mnemonic: BUCRBU

If this field is checked, the account will be reported to the credit repositories (FPSRP184). See below for more information.

 

This field is also found on many screens in CIM GOLD:

 

•Loans > Account Information > Signature Loan Details screen > Loan tab

•Loans > Cards and Promotions screen > Fees and Charges tab

•Loans > Misc Secured F/M Data screen

 

If you check the box on one of those screens, the account will always be included in the report to the credit repositories, unless you uncheck the box on those screens. The box on this screen is updated each month after the Credit Reporting Update program is run. In other words, once the Credit Reporting Update is run at monthend, the system checks the Report to Credit Bureau field on other screens, and if they are checked, it then updates the Report to Credit Bureau field on the Credit Reporting screen accordingly. If the next month you uncheck the box on the other screens, the Credit Reporting Update runs and unchecks the box on this screen.

 

Only those loans that are checked will be reported. Usually, this box is checked as part of the Loan Pattern setup.

 

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WARNING: Credit Reports do not accept information on business accounts. Therefore, business accounts should not be reported to them. The Report to Credit Bureau? field should be unchecked on all business accounts. However, GOLDPoint Systems sends the information to the credit repositories when this field is checked.

 

Option: If your institution has acquired loans, Institution Option LTCB allows you to delay 60 days prior to reporting the account to the credit repositories.

Date Of Account Information

 

Mnemonic: BUDUPD

This is the date the account information was reported to the Credit Bureaus. See below for more information.

 

This field is automatically updated by the system. Generally, you cannot make changes to this field, unless this is a closed account and you need to update this field. For open accounts, this field is not file maintainable. All account information in the Base Segment of the Credit Report and transmission (FPSRP184), such as the Account Status and Current Balance (see above), is reported as of the date in this field. This date varies depending on what type of activity occurred on the account.

 

•For Account Status codes 11, 71, 78, 80, 82-84, 88, 89, 93-97, DA and DF, this is the current month's date when information was reported to the Credit Bureaus (the final run date of the Credit Report and transmission (FPSRP184)).

 

•For Account Status code 5 (transferred), this is the date the account was transferred and reported, unless the account was closed due to inactivity; then the date with the credit reporting period when the account was closed to further charges is reported.

 

•For institutions that report monthly, this is the date of the most recent update to accounts, such as mid-month (08/15/2015) or end month (08/31/2015).

 

•For closed and released loans, the system uses the lesser of the Closed Loan date (LNCLSD) or the Date of Last Payment Activity (LNLPAD) as the Date of Account Information.

 

This field is reported in the Billing Date/Date of Account Information (Field 24) in the Base Segment of the transmission.

Current Month Payment Status

 

Mnemonic: BUCMPH

This field is for your convenience; it is not reported to Credit Bureaus during the monthend Credit Reporting Update function. It displays what the payment status is for the current month before the monthend Credit Reporting Update process occurs. This status moves into the first month of the Payment Profile field at monthend.

Payment Profile

 

Mnemonic: BUPMHS

See Payment Profile for more information.

Deferment field group

See Deferments field group for more information.

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