Loan Screens > Account Information Screen Group > Payment Information Screen > Loan Information tab > Recurring field group

Entry: User, numeric

F/M: Yes

Mnemonic: LNOPMT

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

This field contains the amount of extra principal to be added to the regular payment. The total of the two amounts will be automatically drawn from the account specified in the Source Acct Nbr field.

For sold loans, the system verifies that the amount entered in this field is not less than the amount entered in the Curtailment Minimum field on the Loans > Investor Reporting > Loan Investor Fields screen. It does not check the Loan Investor Group Record.

If you enter an amount in this field, and then access the Loans > Transactions > EZPay screen and set up recurring payments, the amount you enter in this field is reflected in the Additional Principal field on the EZPay screen. Consequently, when the EZPay transaction is run each month, this extra amount will also be paid toward the principal of the loan.