Navigation:  Loan Screens > Original Loan Disclosure Screen > Loan Disclosure Information field group > Original Pmt Mthd

Entry: System, numeric

F/M: No

Mnemonic: OTPMTH

Screen: Loans > Original Loan Disclosure screen

 

This field displays the loan interest type or payment method as indicated when the customer loan account was originated.

 

Possible entries include:

 

•IB for interest-bearing loan (payment method 6)

•ARM for ARM loan (payment method 7)

•CON for conventional loan (payment method 0)

•LOC for line-of-credit loan (payment method 5)

•PC for precomputed loan (payment method 3)

 

The Interest Rate field displays the current loan interest rate and current payment method on the account. If the information in that field is different than the information in this field, the loan was converted at some point in its life. The Convert Precomputed to Daily Simple screen can be accessed from the following three locations in CIM GOLD:

 

•Loans > Account Adjustment, then click <Convert to Interest Bearing>

•Loans > Transactions > Charge Off Transactions screen, Convert Precomputed to Simple tab

•Loans > Transactions > CP2 screen, then click <Run PC2IBTransaction>