Loan Screens > Account Information Screen Group > Account Detail Screen > Payment Detail tab > Payments Due field group

Entry: System, numeric

F/M: No

Mnemonic: MRCLCC

The Interim Late Charges field stores an accumulated amount of late charges collected over a period of time. This field is cleared whenever the following happens:

•An Interest Only transaction (2600-03) is run.

•A Judgment transaction (2510-02) is run.

•A CP2 (Exception) transaction (2600-00) is run.

•The account is brought current (anytime the due date is advanced beyond the transaction date).

This field is used in conjunction with the Applied to Payment field during the grading process (see Special Late Charge Assessment and Grading for more information).

NOTE

•See help for the Collect Late Charges When Current field for detailed information about collecting late charges for the current month when payments are more than one month past due.

•See also Special Late Charge Assessment and Grading for information about special late charge assessment and grading.

This field only has information in it if Institution Option UDQG is enabled.