Loan Screens > Account Information Screen Group > Dealer Information Screen > Dealer Information field group

Entry: User, numeric

F/M: Yes

Mnemonic: LNDLRE

Screen: Loans > Account Information > Dealer Information screen

This field is used to track the total amount of interest that the dealer has earned to date. This field is updated in three ways:

1.A Dealer Interest Increase (tran code 210/01) or a Dealer Interest Decrease (tran code 200/01) transaction is processed.

2.If the Amortize Dealer Interest field is unchecked and the Guaranteed Rt field (on the Loans > Payoff screen) is nonzero, the program will add to this field the amount of investor interest that was collected.

Note: When setting up the guaranteed rate, be sure to set up an Investor Payoff Code on the Payoff screen.

3.If the Amortize Dealer Interest field is checked, Dealer Interest/Premium Earned can only be changed at monthend when the dealer interest is amortized.

Note: Afterhours update function (#81) will amortize the dealer interest/premium automatically. The function uses transaction code 350 and must be set in your G/L Autopost. This function looks for the same conditions on a loan as all other amortization functions. An amortization will not take place if the following conditions exist:

1.If this is non-performing loan.

2.If the General Category is "80" or greater, the loan will not amortize. This field is found on the Loans > Account Information > Account Detail screen.

3.If the Asset Classification field is "Doubtful" or "Loss" on the Loans > Account Information > Additional Loan Fields screen, Valuation/Billing tab.

4.If the Trading Indicator field is "Held for Resale" on the Additional Loan Fields screen, Valuation/Billing tab.

5.Action code 39 stops fees and premiums from amortizing. On or after the action date, the fees/premiums will amortize. This action code would generally be used if you have loans that have not been sold, but you are planning to sell.

6.In addition, Institution Option DFAM forces a delinquent loan to amortize to the due date, as long as the due date is less than the current month and year and not less than the date last amortized (LNDLAD).

If you want this update function set up for your institution, please submit a work order.

REPORTS:

The Dealer Premium Amortization Report and the Dealer Premium Trial Balance (both FPSRP192) are available. The Amortization Report should be run at monthend and provides you with the premium amount earned this month, among other things. The Trial Balance can be run daily, weekly, or monthly. See the Loan Reports manual in DocsOnWeb for more information about running this report.

If you want either of these reports, please submit a work order. This request can also be included in your request for the update function or institution options mentioned above.