Loans > Loan Screens > Credit Reporting > Credit Reporting Screen > Credit Reporting & Loan Information tab

IMPORTANT: These fields will not appear on the Credit Reporting screen until CIM GOLD version 7.20.4 and above. In the meantime, you can run a GOLDMiner report using any of the mnemonics displayed below in the FPBU record to see the accounts where these deferment details were updated. However, these fields are not updated until the monthend Credit Reporting process runs (see Credit Reporting Process for more details).

The fields in the Deferment field group on the Credit Reporting & Loan Information tab of the Credit Reporting screen are for informational purposes only. You cannot make changes to these fields. These fields show if the loan is currently in deferment (Start Of Deferment and Start Of Repayment fields). Additionally, if the deferment is due to seasonal payments, natural/declared disasters, or hardship, the applicable box will be selected. These fields are not updated until monthend. However, if you want to run a GOLDMiner report using any of the mnemonics in the FPBU (credit reporting) record, the deferment details will show.

For more information about deferments, see the Deferment Transactions in the Transactions Manual in the CIM GOLDTeller User's Guide. Also see Deferments in the EZPay help.

If the loan is in deferment, the K4 Segment will be included on the Credit Report and transmission (FPSDRP184).

Special Option to Not Report Deferments to Credit Bureaus

An institution option is available that will not report deferments of any kind to the credit repositories during monthend Credit Reporting. This option, OP32 NRDF, stops the K4 Segment of the Credit Reporting transmission from being included. The K4 Segment (Deferred Payments) is used to report deferments, but that will not be included if the NRDF option is set. Any Special Comments that accompanied some deferments (such as natural disaster (AW) or hardship (CP)) are also not included in the Credit Reporting transmission. Contact your GOLDPoint Systems account manager if your institution would like this option set up.

Note: Setting this option does not change previously reported deferments before the option was set. For example, if this option is turned on this month for your institution, but last month loans were reported with a deferment, the past deferments are still reported. Going forward after the option is set, loans in deferment are no longer reported in the K4 Segment (Deferred Payments) of the Credit Report transmission.

See the Credit Report and transmission (FPSRP184) topic for more information.

defermentfieldgroup_crs

Field Descriptions

Field	Description
Seasonal Payments Mnemonic: BUSEAP	This box is checked if the loan is currently set up for seasonal payments and this is a deferred payment month. Seasonal payments are when a customer is not required to make payments during certain times of the year. For example, someone who has seasonal work (summers only) may take out a loan that only requires payments for six months of the year. Only certain institutions offer these types of loans. Seasonal payments are set up on the Loans > Account Adjustment screen using the Multiple Payment Applications fields. If the Multiple Payment Applications field (LNMULP) on the Loans > Account Adjustment screen is checked, the system reviews the payment application code looking for a seasonal break or deferment. If there is a break in payments (i.e., payment not due based on seasonal payment), the system will report a K4 Segment for that account during monthend credit reporting. The Deferred Payment Start Date (Field 3 in the K4 Segment) will be the date when payments start again after the deferment (uses mnemonic BUDFSD). The system will report the account with Account Status 11 (current account), unless the account is otherwise delinquent. In which case, all other Special Comment Codes and Account Statuses will apply.
Natural/Declared Disaster Mnemonic: BUDSTR	If you run a deferment using Deferment Reason Code 6, the deferment will be flagged as due to a natural or declared disaster. The following deferment transactions can include a Deferment Reason Code: •Deferment Payment Transaction (tran code 2600-11) •Deferment By Code Transaction (tran code 2600-13) •No Rules Deferment (tran code 2600-17) •Deferment with Reason (tran code 2600-35) •Fee Reg Deferment (tran code 2600-50) If institution options K402 and K403 are set up for your institution, and a deferment is run with Deferment Reason Code 6, the system will automatically assign Special Comment Code "AW" and the Account Status will be reported with “11” (current account) for the account. Note: Deferment Reason Code 6 must be set up on the Loans > System Setup Screens > Deferment Reason Codes screen. We suggest giving Deferment Reason Code 6 the name of "Declared Disaster." The system will update the deferment start and end dates according to the deferment and report them in the K4 Segment of the Credit Report and transmission. See the K4 Segment description for more information.
Hardship Mnemonic: BUHSHP	Hardship Deferments are established through the EZPay screen or through tran code 2600-20 (Hardship Deferment). This field will be checked if a Hardship Deferment is run. The Start of Deferment and Start of Repayment fields (defined below) will also be affected accordingly. The system will automatically assign Special Comment Code "CP" if a Hardship Deferment was run on the account from the Loans > Transactions > EZPay screen or from tran code 2600-20 (Hardship Deferment) in CIM GOLDTeller. The CP Special Comment Code is not applied until the Credit Reporting monthend runs. See also: •Hardship Deferments in EZPay •Hardship Deferment (tran code 2600-20) in CIM GOLDTeller •Special Comment Codes
Start of Deferment Mnemonic: BUSTDF	This field displays the date when the deferment started. This field is updated when a deferment transaction is run. The Deferred Due Date (D0DUDT) on the Loans > Deferments screen will be the date reported for the Start of Deferment for Credit Reporting. See the Deferments section in the EZPay help for more information, or see the Deferment Transactions topic in the CIM GOLDTeller User's Guide.
Start of Repayment Mnemonic: BUSTRP	This field displays the date when the deferment ends and payments start again. This field is updated when a deferment transaction is run. The Next Due Date (D0DUNX) on the Loans > Deferments screen will be the date reported for the Start of Repayment for Credit Reporting. See the Deferments section in the EZPay help for more information, or see the Deferment Transactions topic in the CIM GOLDTeller User's Guide.

Field

Description

Seasonal Payments

Mnemonic: BUSEAP

This box is checked if the loan is currently set up for seasonal payments and this is a deferred payment month. Seasonal payments are when a customer is not required to make payments during certain times of the year. For example, someone who has seasonal work (summers only) may take out a loan that only requires payments for six months of the year.

Only certain institutions offer these types of loans. Seasonal payments are set up on the Loans > Account Adjustment screen using the Multiple Payment Applications fields.

If the Multiple Payment Applications field (LNMULP) on the Loans > Account Adjustment screen is checked, the system reviews the payment application code looking for a seasonal break or deferment. If there is a break in payments (i.e., payment not due based on seasonal payment), the system will report a K4 Segment for that account during monthend credit reporting. The Deferred Payment Start Date (Field 3 in the K4 Segment) will be the date when payments start again after the deferment (uses mnemonic BUDFSD). The system will report the account with Account Status 11 (current account), unless the account is otherwise delinquent. In which case, all other Special Comment Codes and Account Statuses will apply.

Natural/Declared Disaster

Mnemonic: BUDSTR

If you run a deferment using Deferment Reason Code 6, the deferment will be flagged as due to a natural or declared disaster. The following deferment transactions can include a Deferment Reason Code:

•Deferment Payment Transaction (tran code 2600-11)

•Deferment By Code Transaction (tran code 2600-13)

•No Rules Deferment (tran code 2600-17)

•Deferment with Reason (tran code 2600-35)

•Fee Reg Deferment (tran code 2600-50)

If institution options K402 and K403 are set up for your institution, and a deferment is run with Deferment Reason Code 6, the system will automatically assign Special Comment Code "AW" and the Account Status will be reported with “11” (current account) for the account.

Note: Deferment Reason Code 6 must be set up on the Loans > System Setup Screens > Deferment Reason Codes screen. We suggest giving Deferment Reason Code 6 the name of "Declared Disaster."

The system will update the deferment start and end dates according to the deferment and report them in the K4 Segment of the Credit Report and transmission. See the K4 Segment description for more information.

Hardship

Mnemonic: BUHSHP

Hardship Deferments are established through the EZPay screen or through tran code 2600-20 (Hardship Deferment). This field will be checked if a Hardship Deferment is run. The Start of Deferment and Start of Repayment fields (defined below) will also be affected accordingly.

The system will automatically assign Special Comment Code "CP" if a Hardship Deferment was run on the account from the Loans > Transactions > EZPay screen or from tran code 2600-20 (Hardship Deferment) in CIM GOLDTeller. The CP Special Comment Code is not applied until the Credit Reporting monthend runs.