Navigation:  Loan Screens > Account Information Screen Group > Account Detail Screen > Late/NSF tab > Late Charge Options field group > Payment Stops Notice

Entry: System, checkbox

F/M: No

Mnemonic: LNPTST

Screen: Loans > Account Information > Account Detail > Late/NSF tab

 

If this box is checked, the system looks for a checkmark in the Owner Occupied field on the Loans > Account Information  > Additional Loan Fields screen and for a Collateral Code of 1 (single family - new), 2 (single family - previously occupied), 3 (single family condo - new), or 4 (single family condo - prev. occupied) (also on the Additional Loan Fields screen). If a payment has been posted during the month but the loan is not current, a late charge will not be assessed. If you use this field, you should not have Institution Option SLTG set, which controls the assessing of late charges on an institution-wide basis rather than a loan-by-loan basis.