Loans > Loan Screens > Transactions Screen Group > Mass Loan Payments Screen

Click this radio button on the Mass Loan Payments screen to process a Mail-In Payment transaction (tran code 2600-04). See the main screen help for more information about processing transactions on this screen.

This transaction works like a regular payment (tran code 600) and follows the same rules.

The Mail-in Payment transaction box displays the following fields:

Account Number

Transaction Amount

Check In

Check In Number

Cash In

As of Date

Y/N Field 1 (You should change this field description to "Assess NSF Fee.")

The history description for this transaction is "Mail-In Payment."

This transaction can be used with the CP2 Transaction Processing Rules screen (function 803/804) in GOLD Services (Application 8). Also

see the CP2 Transaction (tran code 2600-00) description on DocsOnWeb.

If the amount of credit insurance refunds and/or pre-computed interest refund is enough to pay off a loan, the message "REFUNDS COULD CLOSE LOAN/SEE PAYOFF" will be displayed when any of the following transactions are processed:

•CP2 Transaction (tran code 2600-00)

•Insurance Payment (tran code 2600-01)

•Collection Payment (tran code 2600-02)

•Interest-Only Payment (tran code 2600-03)

•Mail-In Payment (tran code 2600-04)

•Walk-In Payment (tran code 2600-05)

•Regular Payment with CP2 Eligibility Test (tran code 2600-07)

•No Advance Payment (tran code 2600-09)

Be aware that these refunds may not in themselves be enough to pay off the loan; it may require a portion of the payment that is being posted.

Example:

The loan balance is $100.00, and the principal and interest is $75.00. The refunds equal $40.00.

As you attempt to post the loan payment, the system will return with the following message: "REFUNDS COULD CLOSE LOAN/SEE PAYOFF."

You would then process a payoff transaction, which reduces the principal balance by $40.00, and then use a portion of the $75.00 to apply toward the remaining payoff amount. You would then refund the difference to the customer.