Navigation:  Loan Screens > Account Information Screen Group > Payment Information Screen > Loan Information tab > Options field group > Guaranteed Payments

Entry: User, checkbox

F/M: Yes

Mnemonic: LNGPMT

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

 

This box is selected when a loan is originated from GOLDTrak PC (using field TF_GUARANTEED_PMT_LN). The person originating the loan determines whether the payment is guaranteed. This is an information only field and manually updated. The mnemonic is LNGPMT and it can be included on GOLDWriter and GOLDMiner reports.

 

An example of a guaranteed payment is a third-party company offering to make loan payments on behalf of their customers. The payment is always made whether or not the customer actually pays their bill to the third-party company, making the payment guaranteed.