Loan Screens > Account Adjustment Screen > Modify Account field group

Entry: User, numeric

F/M: Yes

Mnemonic: LNDUDY

Screen: Loans > Account Adjustment screen

In this field, enter the new due day you want applied to this loan. Enter the due date of the next regular payment when you want to have the Due Date be the last day of the month and the end of the current month is less than 30 days. For example, if you wanted the due date to be the last day of February, the last day that could be entered in the Current Due Date field is February 28. The system would not allow 31 days in February because that is an invalid date. Thus, on succeeding months the due date would appear as the 28th of the month. The New Due Day field overrides that date making the due date as the 31st of each subsequent month.

On months that have 31 days, the system will automatically place "31" in the Current Due Day field. In the months that follow, the system will make the Due Date the last day of the month, even when there are only 30 or fewer days in the month.

If Institution Option DD27 is set, the Current Due Day will not be allowed to be greater than 27.

When you click <Save>, the new due day will appear in the Current Due Day field in the Current Account Information field group.

Institution Option DDCD allows you to set the maximum number of days the New Due Day field can be changed. If this option is blank or 0, there is no limit. This option only allows the Due Date Day to be changed to a future day.

Example: The Due Date on an account is 01-01-2017, and option DDCD contains 13. The New Due Day can be changed to any number between 2 and 14. If 15 or higher is attempted, an error message will appear. The next due day cannot be greater than 13 days ahead of the Current Due Day. The 13 will change to be the number stored in this option.

This option can be used in conjunction with DD27.

Note: If your institution uses institution option OPCO COPT, changing the Due Date on the loan will cause the system to apply Special Comment Code "CO" (account adjustment) on the account during monthend credit reporting.