Loans > Loan Screens > System Setup Screens > Pre-Payment Penalty Option Screen

Use this Loans > System Setup screen to view and edit institution-defined pre-payment penalty codes. Codes 31 through 60 are available to be defined on this screen. Pre-payment penalty codes are assigned to individual customer accounts during loan origination. If you have proper security, you can make changes to this information on the Pre-Payment Penalty tab of the Loans > Account Information > Account Detail screen.

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Loans > System Setup Screens > Prepayment Penalty Option Screen

Pre-payment penalty codes are set up and added to the list view on this screen by clicking <Create New>, indicating an institution-defined Code number (between 31 and 60, mnemonic P1PPCD), entering information in the fields on this screen, and clicking <Save Changes>. Select a penalty code in the list view to edit that code's information in the fields on this screen.

A pre-payment penalty code can be defined for up to 10 consecutive Year periods on this screen. Once information has been entered in the Year 1 fields, the Year 2 fields become available for file maintenance. Once information has been entered in the Year 2 fields, the Year 3 fields become available for file maintenance, and so on until Year 10 is reached or your institution has finished defining the penalty code. The fields on this screen are as follows:

Field	Description
Dollar or Percent Mnemonic: PTSTA1-9, PTSTAA	Use this field to indicate whether the pre-payment penalty Value will be a dollar or percent amount in the corresponding Year. If "Percent" is selected in this field, the Original or Current field becomes file maintainable.
Original or Current Mnemonic: PTSTA1-9, PTSTAA	If "Percent" is selected in the Dollar or Percent field, use this field to indicate whether the pre-payment penalty Value will be calculated according to the original or current amount of any loan assigned the penalty in the corresponding Year.
Value Mnemonic: P1VAL1-9, P1VALA	Use this field to indicate the value of the pre-payment penalty in the corresponding Year. If "Dollar" is selected in the Dollar or Percent field, this value will be a monetary amount. If "Percent" is selected, this value will be a percentage of the amount indicated in the Original or Current field.

The list view on this screen displays the Code and first four Year field values of all previously created pre-payment penalty codes. Click any column header to organize the list view by that column's information type.

	Record Identification: The fields on this screen are stored in the FPP1 record (Pre Payment Penalty Codes). You can run reports for this record through GOLDMiner or GOLDWriter. See FPP1 in the Mnemonic Dictionary for a list of all available fields in this record. Also see field descriptions in this help manual for mnemonics to include in reports.