Field

Description

Dealer

Mnemonic: IMNAM

The name of the institution from which your institution purchased the loan.

Contract Type

Mnemonic: MLCNTP

The type of contract agreement made with the institution that sold the loan. Possible contract types can be bulk purchase, interest bearing, etc. Contract types are set up by GOLDPoint Systems for your institution's needs. These codes and descriptions appear on the Daily Statistics report (FPSRP211).

Dealer Reserve

Mnemonic: MLDRVA

The amount reserved for the dealer of the purchased loan. This field refers to an amount given as a commission or payment to a dealer or other indirect loan source as compensation for generating the loan.

Hold Back Percent

Mnemonic: MLHBPC

The holdback percent associated with the loan. A holdback percent is an allowance, usually between 2 and 3 percent of MSRP (Manufacturer's Suggested Retail Price), which manufacturers provide to dealers (frequently as a credit to the dealer's account). A holdback allowance may allow the dealer to pay the manufacturer less than the invoiced amount. Therefore, collateral could be sold to your institution at cost while permitting the dealer to receive a small profit. Holdback is also known as a pack.

Non-Precomputed Bal

Mnemonic: LNFACE

The face value of the loan.