Loan Screens > Account Information Screen Group > Account Detail Screen > Interest Detail tab > Interest Information field group

Entry: User, numeric

F/M: Yes

Mnemonic: LNACIN

Screen: Loans > Account Information > Account Detail > Interest Detail tab

This field is titled differently depending on the payment method code. For payment method 0 (amortizing), it is Interest Due, meaning the interest due with the payment that is due on the next due date.

For all other payment method codes, it is Accrued. As accrued interest, it includes unpaid interest up to but not including the date last accrued. On payment method 6 or 7 loans, the accrued interest is usually 0. On payment method 0 loans, a new loan tran 680 will place the interest in the field. It does not move from GOLDTrak. The only time there will be a balance in the Accrued field is when the loan is amortizing negatively and interest is deferring based on the rate change frequency. This occurs when the Defer Interest At field on the Loans > Account Information > ARM Information screen is "N", never defer interest, or "R", defer interest at rate roll.

This field is file maintained by the system, but can be file maintained by the user if necessary.

A GOLDWriter report and Variable Screen mnemonic (LNACRINT) is available that will accrue loan interest either to or through today. The calculation is the same calculation used on the Loans > Payoff screen. The mnemonic uses the same institution option as for payoffs to determine if the calculation is to or through today.

WARNING: This mnemonic does not use the payoff record. If you have already created a payoff record in the loan payoff system and you run a report using this mnemonic, but today is not the "payoff date," the accrued interest will be different.