Navigation:  Loans > Loan Screens > Investor Reporting Screen Group > Loan Investor Fields Screen > Investor Loan Basics tab > Calculation Codes field group > Interest

Mnemonic: LNIICL

 

Use this field in the Calculation Codes field group to indicate the calculation method for the investor's interest portion of a payment from the customer loan account. Once investor interest is computed, both the Service Fee and the investor's deferred interest are subtracted from the calculated amount.

 

This information is copied from from the Investor Calculations tab on the Investor Group screen (if valid information is entered in the Investor fields). The value entered in this field group overrides any value entered in the Investor Calculations tab on the Investor Group screen for the customer loan.

 

Possible selections in this field are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

(This calculation will be used for simple interest loans and for dealer reserves being calculated on a simple interest method, as payments are calculated.)

 

 

 

In these selections, "Balance" refers to the previous month's ending balance. For loans on a collection basis, the balance is the amount prior to payment. For loans on yield basis, the balance is what is shown at the beginning of the cutoff (cycle) period.