Loan Screens > Account Information Screen Group > Amortizing Fees And Costs Screen > Fee/Cost Information field group

Entry: User, numeric

F/M: Yes

Mnemonic: F1PRDY

Screen: Loans > Account Information > Amortizing Fees And Costs screen

If this loan uses a pro rata daily amount in calculating the amortization of the fee or cost, the number of days used in the pro rata calculation is entered in this field. This field only works if the Amortization Method field is set to "8-Pro Rata Daily."

For example, if your institution has set up a fee that will only be amortized for the first 180 days after the loan is opened, you would enter "180" in this field. Then, if the loan is paid off before 180 days has passed, a portion of the fee or cost will be returned to the customer (Remaining field) according to when the loan was paid off and the amount entered in this field. If the loan is paid off after 180 days, none of the remaining fees or costs will be returned.