Loan Screens > Account Information Screen Group > Account Detail Screen > Account tab > Payment and Classification field group

Entry: System, numeric

F/M: No

Mnemonic: LNMATD

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

This field displays the date the last payment is due on the customer loan account (and the date the loan should be paid off). All loans must have a designated maturity date except payment methods 5 (revolving line-of-credit) and 8 (rental accounts), otherwise payments cannot be posted.

Institution Option CZLB automatically closes zero balance payment method 5 loans. At the time the loan is closed, the payoff date is also updated. The "close" transaction is a file maintenance tran code 22 to field 999. The loan will automatically close on the night of the maturity date. If the maturity date is on a weekend or holiday, the loan will close on the night of the first business day following the maturity date. Monetary balances that must be zero are: Principal balance, reserve balance, partial payments, miscellaneous funds, late charges, loan fees, accrued interest, accrued interest on reserves, and accrued interest on negative reserves. In addition, the loan cannot have an LIP (loan-in-process) method code greater than zero.

Loan advances (tran code 500 field debit to principal) are typically not allowed if a loan is past the maturity date. The error message "LOAN PAST MATURITY, ADVANCES NOT ALLOWED" will be displayed both in GOLDTeller and the "daily rejects" for line-of-credit loans. If there is no maturity date, advances will continue to process. This applies to all payment methods. Institution Option APML allows a principal increase to be processed if a loan is past the maturity date. This requires a supervisor override (SOV).

Institution Option APCO allows a loan payment (tran code 600/608) or an optional loan payment (tran code 690/698) to be processed if a loan has been charged off (hold code 2).