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Date of Loan |
  
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Navigation: Loan Screens > Original Loan Disclosure Screen > Loan Disclosure Information field group >
Date of Loan
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Date of Loan |
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Entry: System, date
F/M: No
Mnemonic: LNOPND
Screen: Loans > Original Loan Disclosure screen
This field displays the date the customer loan account was opened or funded. The system automatically supplies this information when a new loan (tran code 680) is set up. For loans with precomputed interest (payment method 3), this field is one of the values used in calculating rebates.
If there is a date in the Date Opened field while performing the open loan transaction, the date will not be changed. If the Date Opened field is blank, the following will occur:
| 1. | If the transaction is not backdated, the current date is defaulted into the field. |
| 2. | If the transaction is backdated to a date in the current month, the backdated date is defaulted into the field. |
| 3. | If the transaction is backdated to a prior month, the first day of the current month is defaulted into the field. This is done so the loan will appear on new loan and regulatory reports for the current month (if transactions are backdated to a prior month, the loan will not appear on the prior month reports because they will already have been processed). |