Field

Description

Does the Dealer Have Recourse

Mnemonic: LNDLRC

This field is used by your institution to determine if the dealer has recourse for this loan. If this field has a checkmark, it indicates that the dealer does have recourse. The default, a blank checkbox field, indicates the dealer does not have recourse.

Is it Full Recourse

Mnemonic: MLFURC

This field is used by your institution to determine if the dealer has full or partial recourse. If this field is checked, it indicates that the dealer does have full recourse. The default, a blank checkbox field, indicates the dealer has a partial recourse. However, if the Does the Dealer Have Recourse field above is not checked, then it does not matter if this field is checked or not; the dealer has no recourse.

Term of Recourse in Months

Mnemonic: MLTERC

This field displays how long the recourse will be effective. After this term expires, the loan will be treated as if it has no recourse on it at all. Also, if the Does the Dealer Have Recourse field above does not have a checkmark, the loan will be treated as if it has no recourse.

Amount of Recourse

Mnemonic: MLRECB

This field is used to indicate the amount of dealer recourse, if the Does the Dealer Have Recourse field above is checked.