Navigation:  Loan Screens > Account Information Screen Group > Payment Information Screen > Loan Information tab > Options field group > Entire Payment Rolls Due Date

Entry: User, checkbox

F/M: Yes

Mnemonic: LNEPMT

Screen: Loans > Account Information > Payment Information > Loan Information tab

 

Checkmark this box if you want this loan to roll the due date when an entire payment is made (the amount collected is greater than or equal to the Next Payment Due). This does not apply if miscellaneous loan fees are collected before principal, interest, and late charges.

 

The program will compare what was collected to the Next Payment Due minus anything in the Roll Due Date Within field to determine whether a full payment was made.

 

The LNVESC field is used to track late charges when spreading payments. As payments are spread to the different parts of the loan according to the Payment Application, this field and the other tracking fields will track how much of the partial payment goes to principal and interest, reserves, P/I fees, and late charges.

 

Note: Miscellaneous loan fees are not included in the full payment calculation.

 

If a full payment was made, the due date will roll ahead one month. If part of the full payment was applied to late charges, then either the entire amount of the payment or just the principal and interest portion will be credited to the Applied To Payment field, depending on which option you have set.

 

Note: The amount of late charges paid in one payment or cycle cannot exceed one P/I constant.