Loan Screens > Account Information Screen Group > Precomputed Loans Screen > Options field group

Entry: User, drop-down

F/M: Yes

Mnemonic: MRMNED

Screen: Loans > Account Information > Precomputed Loans screen

This field displays the number of days within which to refund the amount of money from the Minimum Earned Interest field. State regulations and your institution's interpretation of those regulations determines the number of days to enter in this field (it's usually pulled over during loan origination). If the payoff occurs after the number of days entered in this field (from loan opened date to the payoff date), Minimum Earned Interest is ignored and any refunded amount is determined by the rules set up for precomputed interest. See the Rebated Interest field for more information.