Loans > Loan Screens > Insurance Screen Group > Force Place Screen

This transaction is similar to the VSI Force Place Transaction (tran code 2870-00). Changes were made to adjust the P/I constant by the change amount when any of these insurances is added. This allows for multiple insurances to be placed and/or removed. Only insurances placed after the addition of these new transactions will contain the information to make the adjustment upon removal.

When insurance is force placed, the P/I change amount and the payment effective date are stored. This information is used to update P/I changes that are recorded in LNPINX/LNPIEF and LNPNX1/LNPEF1 - LNPNXC/LNPEFC. This same information is used to adjust these fields when insurance is removed.

The change amount is added to or subtracted from any P/I amount that is effective after the payment effective date and before the term end.

	Note: The company and agent numbers are both zero, so this information should be added to the insurance record after it is placed.

When this transaction is run, it does several things. It sets up an insurance record on the Loans > Insurance > Policy Detail screen, and fills in many of the fields on that screen.

Institution Option AMVP allows more than one insurance type 99 (Fire insurance) on a loan without checking to see if other type 90s have expired.

The Force Place Fire Insurance transaction box is displayed in GOLDTeller after entering information for a fire insurance type and clicking on the Force Place screen. GOLDTeller must be open before clicking .

forcefireins

The transaction will also update fields on the Loans > Account Information > Account Detail screen. The following are the fields on the Account Detail screen that are updated when this transaction is run:

Principal Balance	LNPBAL: Increased by the transaction. For precomputed loans, the principal balance is also increased by the amount of the finance charge. For loans based in Kentucky, the principal balance is also increased by the amount of municipal and surcharge.
Principal/Interest Constant	LNPICN: Increased by original premium divided by the remaining term of the insurance.
Next P/I Constant	LNPINX: The next P/I amount that reflects the increase of the insurance premium divided by the remaining term of the insurance.
Constant Change Date	LNPIEF: Policy effective date + insurance term INNREMINN
LNPNX 1-12 LNPEF 1-12	At the end of the force-placed insurance policy term, the P/I will be changed back to the original P/I.

The following are the fields on the Policy Detail screen that are updated when this transaction is run:

Insurance Type	INTYPE: defaulted to type 99
Policy Description	INDESC: defaults to "Fire Insurance"
Original Premium	INOBAL: amount entered during transaction
Policy Number	Pulled from the Force Place Fire Insurance transaction box. If left blank, it defaults to the loan number.
Amortization Method	INAMOR: 02-Rule of 78s
Policy Term	INTERM: term entered with transaction
Policy Effective Date	INOPND: policy date entered with transaction
Refund Rule	Defaults to "3–15/16 Day Rule (360 Base)
Amortization Start Date	INDLAC: same as policy effective date
State Code	INSTCD: the state code, as defined by GOLDPoint Systems.

Institution Option IVSI automatically calculates the interest on the premium using the calculation provided by CNI Insurance Company.

•For interest-bearing loans (payment method 6), the interest will be calculated and the new P/I constant will include the interest on the premium. It will be divided by the remaining term.

•For ARM loans (payment method 3), the interest will be placed in the Finance Charge Information tab of the Loans > Insurance > Policy Detail screen. It will also be added to the principal balance of the loan. When the force-placed insurance is cancelled, the refund of the finance charge will be calculated and subtracted from the principal balance and the remaining finance charge amount. If an amount is left in the remaining finance charge, that amount will be taken at monthend.

Loans that have a Kentucky state code will have municipal tax and surcharge amounts calculated for them. These amounts will be added to the principal and, if a finance charge is calculated, it will be included in the finance charge amount. The rate used will be the rate set up in the TD detail record that matches the state, county code, and city code. If no TD record is set up, there will be no municipal tax or surcharge amount. The TD record is user-defined and found on the Miscellaneous > Tables > Tax Rate Detail screen in CIM GOLD.

The following fields are pulled from the GOLD Services > General Ledger > Setup G/L and Commissions screen.

Tran	TORC	Field	Description
110	124	Company Number	Fills in INOORG, INOREM
110	128	Branch Percentage	Fills in INCORG, INCREM
		Corporate Percentage	INOAMD receives policy effective date

For precomputed loans (payment method 3), the following fields on the Finance Charge Information tab of the Policy Detail screen are also set up:

Finance Charge Original Amount	INNORG: finance charge amount from transaction
Finance Charge Remaining Amount	INNREM: same as original amount
Finance Charge Date Last Amortized	INNAMD: finance charge effective date from transaction
Finance Charge Effective Date	INNEFF: finance charge effective date from transaction

The following fields on the Tax & Surcharge tab of the Loans > Policy Detail screen are also set up:

Original Municipal Tax	INMORG: Calculated original municipal tax
Municipal Tax Rate	INMUTR: Municipal tax rate
Original Surcharge	INSURG: Calculated original surcharge amount
Surcharge Rate	INSCRT: Surcharge rate
City Code	INCITC: Code for city loan is based in
County Code	INCNTY: Code for county loan is based in

This transaction also processes the following General Ledger transactions:

1810	G/L transaction to Unearned Interest account listed on the GOLD Services > General Ledger > G/L Account By Loan Type screen.
1810	G/L transaction to municipal (Tax) account listed on the GOLD Services > General Ledger > Setup G/L and Commissions screen.
1810	G/L transaction to Surcharge account listed on the GOLD Services > General Ledger > Setup G/L and Commissions screen.
1811	G/L transaction to corporate and/or branch G/L number in the Commission field group on the GOLD Services > General Ledger > Setup G/L and Commissions screen.