Field

Description

Ins Type

Mnemonic: F3TYPC

Use this field to indicate the type of insurance being used in the force place insurance transaction default being created. Possible selections in this field are:

71 - Limited Property Damage

90 - VSI Insurance

97 - Homegard

98 - Flood Insurance

99 - Fire Insurance

Once information has been entered on this screen and <Save Changes> is clicked, this field cannot be changed for the transaction default selected in the list view above.

State

Mnemonic: F3STAC

Use this field to indicate the state code to be used in the force place insurance transaction default being created. See below for a list of possible selections in this field. Once information has been entered on this screen and <Save Changes> is clicked, this field cannot be changed for the transaction default selected in the list view above.

State codes

Office

Mnemonic: F3OFFC

Use this field to indicate which of your institution's office codes will be used in the force place insurance transaction default being created.

Once information has been entered on this screen and <Save Changes> is clicked, this field cannot be changed for the transaction default selected in the list view above.

Loan Type

Mnemonic: F3LTYP

Use this field to indicate the loan type code to be used in the force place insurance transaction default being created. Loan type code numbers are set up for your institution on the Loans > System Setup > Loan Product Types screen. Loan types are applied to individual customer accounts during loan origination through GOLDTrak.

Once information has been entered on this screen and <Save Changes> is clicked, this field cannot be changed for the transaction default selected in the list view above.

Company Indicator

Mnemonic: F3COPT

Use this field to indicate the insurance company to be designated in the force place insurance transaction default being created/edited.

Insurance companies are made available in this field (and similar fields in CIM GOLD) by GOLDPoint Systems. Submit a work order to GOLDPoint to add a company to this field.

Company Number

Mnemonic: F3CONO

Use this field to indicate the insurance company number (that corresponds to the institution designated in the Company Indicator field above) to be used in the force place insurance transaction default being created/edited.

Insurance companies are made available in the Company Indicator field (and similar fields in CIM GOLD) by GOLDPoint Systems. Submit a work order to GOLDPoint to add a company to that field.

Agent Number

Mnemonic: F3AGNO

Use this field to indicate the insurance agent ID number (that corresponds to the institution designated in the Company Indicator field above) to be designated in the force place insurance transaction default being created/edited.

This number is institution-defined and is used for reference purposes.

Producer Number

Mnemonic: F3PRDN

Use this field to indicate the producer ID number to be designated in the force place insurance transaction default being created/edited.

This number is defined by the insurance company designated in the Company Indicator field above.

Amortization Method

Mnemonic: F3AMOR

Use this field to indicate the amortization method to be used in the force place insurance transaction default being created/edited.

Amortization methods are accounting methods for refunding premium amounts back to a customer due to early cancellation of the insurance policy or early payoff.

All amortization methods use an adjusted effective date if the Use Anniversary of 1st Due Date field on the Loans > Insurance > Policy Detail screen is marked. The adjusted effective date is used for determining the starting date for refunding. It may also be used for determining the remaining term.

Possible selections in this field are explained further in help for the Amortization Method field on the Policy Detail screen.

Coverage Code

Mnemonic: F3COV

Use this field to indicate the coverage code number to be used in the force place insurance transaction default being created/edited.

Coverage codes are specific to each insurance company, and the contents of this field depend on what coverage codes have been set up by your institution on the Loans > System Setup Screens > Insurance Coverage Codes screen.

Refund Rule

Mnemonic: F3RRUL

Use this field to indicate the refund rule to be used in the force place insurance transaction default being created/edited.

State laws and regulations determine how refunds are calculated. These laws determine if a refund is calculated on a daily or a monthly basis and if a 1-day, 15/16-day, or 16/17-day rule is used. Each insurance company must file their refund formulas with the state commissioners indicating the basis they use for calculating refunds.

The refund rule entered in this field must be in compliance with the law of the indicated State (see above).

Possible selections in this field are explained further in help for the Refund Rule field on the Policy Detail screen.

Minimum Refund

Mnemonic: F3MINR

Use this field to indicate the minimum refund amount to be used in the force place insurance transaction default being created/edited. This value is the amount that your institution is required to give back to the borrower in the event that the loan pays off early or is canceled.

Commission Amort Method

Mnemonic: F3CMET

Use this field to indicate the commission amortization method to be used in the force place insurance transaction default being created/edited. Possible selections in this field are explained further in help for the Amortization Method field on the Policy Detail screen.

Finance Charge Refund Method

Mnemonic: F3IMET

Use this field to indicate the finance charge refund method to be used in the force place insurance transaction default being created/edited. Possible selections in this field are explained further in help for the Refund Method field on the Loans > Insurance > Policy Detail screen.

Finance Charge Amort Method

Mnemonic: F3IFCM

Use this field to indicate the finance charge amortization method to be used in the force place insurance transaction default being created/edited. Possible selections in this field are explained further in help for the FC Amort Method field on the Loans > Insurance > Force Place screen.

Do Not Refund

Mnemonic: F3DNRF

Use this field to indicate whether any remaining funds should be returned to the borrower at payoff or cancellation for customer accounts using the force place insurance transaction default being created/edited.

Return All

Mnemonic: F3RTNA

Use this field to indicate whether the full premium will be refunded at payoff if the payoff date is within the time indicated in the Within Days field below for customer accounts using the force place insurance transaction default being created/edited.

Within Days

Mnemonic: F3DYS

Use this field to indicate a time frame within which the full premium will be refunded at payoff for customer accounts using the force place insurance transaction default being created/edited. The Return All field above must be marked in order for this field to be valid.

Policy Description

Mnemonic: F3DESC

Use this field to indicate a brief description of the selected insurance policy. This field is required for payoff purposes.

LOTS Company #

Mnemonic: F3COMP

If the selected insurance policy is with Life of the South, enter the company number associated with Life of the South in this field. This number is needed when sending information to the Life of the South insurance company using the Life of the South Insurance Download (FPSRP286).

Premium Rate Table

Mnemonic: F3TBLN

Use this field to indicate the Premium Rate Table number to be used in conjunction with the loan accounts with Amortization Method 3. The first two digits of the table number should begin with the code. For example, all Nevada tables should begin with 32. The tables contain rate factors that vary based on the remaining term of the insurance policy.

	GOLDPoint Systems Only: The Premium Rate Table is found in the Organization Options (Application 1), Insurance Premium Rate Tables (function 55/56) in Blue WinTerm. That function is where insurance rates are set up by term and rate. The Current Table field shows the number of the rate table, which can be entered in the Premium Rate Table field on this tab in CIM GOLD. See example below:

Use Anniversary

Mnemonic: F3UANN

Use this field to indicate whether any Amortization Methods selected will use an adjusted effective date. The adjusted effective date is used for determining the starting date for refunding. It may also be used for determining the remaining term.