Loans > Loan Screens > Account Information Screen Group > Payment Information Screen

	Important: The Recurring Information tab is only available for one institution. We are phasing out support for this tab. Instead, use the Recurring Payments function in the Loans > Transactions > EZPay screen to set up recurring payments.

Note: The Cycle Code field (LNACYC) must be set to 255 (ACH) for recurring payments sent by GOLDPoint Systems to work with FPRA. The Cycle Code field isn't found on any screen in CIM GOLD (after version 7.9.3). Your GOLDPoint Systems account manager can init that field for accounts.

Be aware of a few options that affect recurring payments.
Fee Amount	If your institution collects a fee for each recurring payment, you need to set up the General Ledger account for the fee to be credited to on the GOLD Services > General Ledger > G/L Account By Loan Type screen using the EZPay Fee field and EZPay Offset field. However, if institution option EGPO (EZPay G/L Posting By Office) is set, the system uses the G/L account in the ACH Fee and ACH Offset fields for the account's office on the G/L Accounts tab of the GOLD Services > Office Information screen. See the Fees topic in the EZPay help for more information.
Modified Payments	If this loan has a modified payment schedule set up (using the Loans > Transactions > CP2 screen, Payment Schedule tab), the amount defaulted into the Payment Amount field on that screen for recurring payments will reflect the amount from the payment schedule. This is ignored when the Override Payment Amount is used with a recurring payment.
Maturity Date	An option is available that stops recurring payments once the loan is past the Maturity Date (see Stop Recurring Payment if Past Maturity on the Loan Information tab of this screen). If that option is set and a loan is past the Maturity Date when a recurring payment is attempted on the account, the payment will be rejected and the account will appear on the Afterhours Processing Exceptions Listing report (FPSRP013). Make a habit of checking that report every morning. You'll need to manually handle those accounts, such as contacting the borrower and asking for a final payment; running a payoff transaction through the Loans > Payoff screen; sending an event letter to the customer about a final payoff amount; or whatever other methods your institution requires.payment.
Hold Codes	Recurring payment transactions are not allowed on loans that are severely delinquent, such as loans that have been charged off or are in bankruptcy. The following Hold Codes will cause the ACH payment to reject if they are on the account. (The accounts with rejected automatic/recurring payments will show on the Afterhours Processing Exceptions Listing report (FPSRP013).) •2, 4, 5, 6, 7, 8, 9, 27, 48, 86, or 94-99
Locked for Payoff	If the loan is locked for payoff on the Loans > Payoff screen, and the loan is not unlocked before afterhours is run the night the recurring payment is pulled, the recurring payment will be rejected and show on the Afterhours Processing Exceptions Listing report (FPSRP013) with the message: "LOAN LOCKED IN FOR PAYOFF." You will need to manually handle the account at that point, such as unlocking the payoff; calling the customer for a final payment; running a manual payment through CIM GOLDTeller; or however else your institution wants to handle the account.
Balloon Payment Due	Some loans require a final balloon payment, which is more than the regular recurring amount. Action Code 1 with an Action Date on or after the recurring payment effective date will cause the recurring payment to reject and show on the Afterhours Processing Exceptions Listing report (FPSRP013).

Make sure the Due Date is today's date or in the future. If this is not the case, a payment or deferment (if your institution allows deferments) will need to be made on the account in order to advance the due date properly.

At the bottom of the Recurring tab, click <Start Recurring>. The required fields will display an error provider icon next to them, as shown below. This indicates that these fields are required.

Enter the Routing Number and Account Number of the financial institution for the recurring payment. After you click <Save Changes>, the system will notify you if the routing number entered is not an approved ABA routing number by displaying an error provider icon , with a pop-up error that says, "Bank Routing Number not on file." You will need to correct the routing number before you can save the recurring payment.

	Note: If you get an error message stating "This routing transit number is restricted," that means the account is an invalid account. See the Invalid Accounts tab for more information.

	Tip: See the ACH Accounts (FPEA) tab for information about ACH routing and account number info already set up for the selected borrower.

The regular payment amount (P/I Constant) is defaulted into the Amount field and cannot be changed. However, you can enter any additional amount this borrower would like to go toward principal, fees, or reserve amount in the designated fields below the Amount field. Or you can enter an amount in the Override Payment Amount field to override this default amount.

	Note: If this loan has a modified payment schedule set up (using the Payment Schedule tab on the Loans > Transactions > CP2 screen), the amount defaulted into the Amount field for recurring payments will reflect the amount from the payment schedule. This is ignored when the Override Payment Amount is used with a recurring payment.

The Frequency field defaults to the value of the established loan Frequency and indicates the frequency of the recurring payment schedule.

Set the number of days before the effective Due Date in the Recurring...days prior to Due Date Effective field. The system will pull the ACH payment on the designated days before the effective Due Date.

Select any of the recurring option boxes, as described below:

Option

Description

Auto Pmt is Savings

Select this box if the Account Number entered for this recurring payment is a savings account instead of checking account.

Stop Loan Autopay

Select this box if you want to stop processing this recurring payment without deleting the record from the system. You might not want to delete the recurring transaction, for example, if you believe the customer may want to resume it at another time. If the customer decides to resume the recurring payment, simply uncheck this box.

	Note: You should verify the correct bank and account number, as well as payment dates, in the Recurring Effective Date if a recurring payment was previously set up, and then stopped (by checking this box), and then set up again (by unchecking this box).

Cycle By Due Date

If this box is checked, the Due Date will be used for the date the recurring payment is processed. When this option is on, the Recurring Effective Date fields become disabled, and the Recurring field and days prior to Due Date Effective fields become enabled. You should then select how many days before the Due Date this customer wants the automatic recurring payment processed.

Click <Save Changes> to save the recurring payment record.

In the Payments Due field group on the Loan Information tab, the message "Recurring Payments Scheduled" will be displayed, as shown below.

Additionally, the routing and account number you set up are saved on the ACH Accounts (FPEA) tab, if your institution uses that tab.

Use this simplified version of the Recurring field group on the Loan Information tab to set up recurring payments for accounts that use the legacy loan record, which means the Cycle Code is not equal to 255 (ACH) or 254 (cards).

Note: This field group only shows for certain institutions. These are legacy fields that are being phased out, and instead, the FPRA (recurring payments) record is used, as set up on the Loans > Transactions EZPay screen. See the Recurring Payments topic in the EZPay user's guide for more information on setting up recurring payments using that FPRA record.

Field

Description

Cycle Code

Mnemonic: LNACYC

The Cycle Code field is a very important field. This tells the system when to post the recurring payments and pull the funds from the checking or savings account at the bank provided by the borrower.

Even if your institution uses the FPRA record, a number must be entered in the Cycle Code field. Note: Sometimes you cannot file maintain this field or even see it on any screen in CIM GOLD. In that case, your GOLDPoint Systems account manager can set the field for you, as follows.

Code	Description
0	No auto payment or the account uses a third party to process automatic (recurring) payments. See the FPAU tab if your institution uses a third party to process automatic payments. This requires significant back-end setup by GOLDPoint Systems to communicate with the third-party payment processor.
1 to 31	Cycles on a specified day of the month. Enter 5, 10, 15, 20, 25, or 31, or contact GOLDPoint Systems. Note: Requires GOLDPoint Systems to set up Afterhours Update Functions 1-31.
61 to 89	These codes are rarely used. Cycles 1 to 29 days after the Due Date. (E.g., entering "61" means the payment will be pulled one day after the Due Date each frequency; "62" means two days after the Due Date; etc.) Note: Requires GOLDPoint Systems to set up Afterhours Update Function 54.
90 to 99	Cycles 0 to 9 days before the Due Date. The code you enter is 90 plus 0 to 9 days before the Due Date. Thus, entering "90" would pull the payment on the Due Date, and code "95" would pull 5 days before the Due Date, etc. WARNING: The system will retry the transmission every night until a payment is received from the banking institution tied to the routing number. For example, if the GPS afterhours pulls a payment from the entered routing and checking/savings account, and the payment is rejected because of non-sufficient funds, the system will attempt another payment the next afterhours. This will continue until the payment can be successfully pulled from the account. WARNING: If you have a delinquency situation (customer continually doesn’t have enough funds in checking account), you will probably want to delete the autopay function (delete the Cycle Code or discontinue recurring payments). Remember, if you don’t do this, the system will continually attempt to pull funds on the cycle date. At that time, the system also posts the payment to the loan. This would then require that you reverse the payment once you are notified that the auto payment rejected. Your institution's policies should be followed, such as assessing a non-sufficient funds fee. Remember: The following Hold Codes will cause the ACH payment to reject if they are on the account. (The accounts with rejected automatic/recurring payments will show on the Afterhours Processing Exceptions Listing report (FPSRP013).) •2, 4, 5, 6, 7, 8, 9, 27, 48, 86, or 94-99 See also: Options that Affect Recurring Payments Note: Requires GOLDPoint Systems to set up Afterhours Update Function 54.
254	If recurring card payments (not ACH payments) are set up on the Loans > Transactions > EZPay screen, "254" will appear in this field.
255	If recurring ACH payments are set up on the Loans > Transactions > EZPay screen, "255" will appear in this field.

Bank Routing Transit

Mnemonic: LNABNK

This is the automatic repayment source bank routing transit number. It contains the 9-digit routing transit number of the bank from which the payment should be drawn. If you are drawing funds from an in-house account, this field should be left blank or filled with zeros. In-house accounts are uncommon, unless your institution also allows deposit accounts.

The system checks the Bank Table maintained by GOLDPoint Systems to verify that the routing transit number has been set up (see the Miscellaneous > ABA Number Lookup screen). If the number you enter here does not match a routing transit number in the Bank Table, an error provider icon errorprovidericon_cgus will be displayed, and when you hover your cursor over the icon, the following message will be displayed:

"Bank routing number not on file."

Check to verify that you entered a valid routing number. You must enter a valid routing number before the automatic payment can be saved.

Source Acct Nbr (16)

Mnemonic: LNANBR

The Source Acct Nbr field in the Recurring field group contains the account number for the savings or checking account that will be debited for the loan payment. Debits can be made either from an in-house account (this is rare unless your institution also has deposit accounts) or from accounts not at your institution. This field is required or the payment will be rejected and post an error message on the Afterhours Processing Exceptions Listing (FPSRP013).

Note: If you get an error message stating "This routing transit number is restricted," that means the account is an invalid account. See the Invalid Accounts tab for more information.

Enter the deposit account number within your institution. The structure of the account number may vary from institution to institution.

All account numbers have the same structure regardless of how many digits are used in any portion of the number. For instance, some institutions use a 2-digit office number while other institutions may use a four-digit office number.

Account numbers are broken down as follows: B = branch or office, N = account number, C = check digit. Dashes or spaces are not used when entering information and the check digit is always 2 digits, using a leading zero if necessary.

When the source bank account number is entered for in-house checking or savings accounts, the system will validate that the account number (including the check digit) is a valid account within the Deposit system.

WARNING: The system does not validate that the savings or checking account number belongs to the same person as the loan. It only verifies that it is a valid account number.

If the savings or checking account is not on file or not in the correct format, the message "Invalid Source Bank Acct#" is displayed.

Overdraft Protection

You can draft loan payments from deposit accounts that have overdraft protection. The system will post the payment and pull the funds from the overdraft account if necessary. The "available balance" is used in the calculation to determine if sufficient funds are available.

The overdraft can be advanced from another account, or you can set up an option that allows the overdraft to be advanced from the same loan for which the payment is being posted.

Deposit System

The account structure is based on institution General Ledger options. This enables deposit accounts to have up to four characters in the "B" branch section of the account number, and up to 10 characters in the "N" number section of the account number. The best way to determine how your deposit accounts are structured is to go to the Deposit system. The way the boxes for the account number appear on that screen is based on the options your institution has selected.

If the "N" portion of the deposit account number is greater than 6 digits, the account number will appear exactly as it appears in the Deposit system except a two-digit check digit must be used. This may require the use of a leading zero for the check digit.

Example:

Deposit Number	This field displays:
02-1234567-8	02123456708
02-4562789-17	02456278917

Institution General Ledger options are ODGT for the number of digits in the "B" branch and ADGT for the number of digits in the "N" account number.

Institution Option for Internal Deposit Accounts

Institution Option FLAP (Force Loan Auto Payment Despite Deposit Condition?) is available that will force a payment to be pulled from an internal deposit account, even if the internal deposit account does not have enough funds for the loan payment. This is only for institutions that have deposit accounts as well as loan accounts.

If this option is set, when a loan payment is attempted and there are not enough funds in the deposit account, the payment will be posted to the loan, and the reject information for the deposit account will be sent to GOLD ExceptionManager. This will allow the institutions to force post the deposit transaction and/or charge a fee to the deposit account. Transaction origination code (TORC) 381 is used for this "force post" transaction.

Extra Principal

Mnemonic: LNANBR

This field contains the amount of extra principal to be added to the regular payment. The total of the two amounts will be automatically drawn from the account specified in the Source Acct Nbr field each recurring payment effective date.

For sold loans to investors, the system verifies that the amount entered in this field is not less than the amount entered in the Curtailment Minimum field on the Loans > Investor Reporting > Loan Investor Fields screen.

When the payment is made each frequency, this extra amount will be paid toward paying down the principal on the loan.

Auto Pmt is Savings

Mnemonic: LNACCK

Check this box if the automatic payment is from a savings account. The ACH transfer codes are determined from this field.

Note: This indicator is necessary so that outside institutions who allow the same account numbers to be used for both savings and checking accounts can determine which account is the correct one. On the Loans > History screen > Detailed History tab, "Y" means savings and "N" means checking. Therefore, if file maintenance reads "WAS Y ACH CKING OR SVING," the account was a savings account and the file maintenance changed it to a checking account.

The following paragraphs describe the fields on the Recurring Information tab.

Field

Description

Routing Number

Mnemonic: RAABNK

After clicking <Start Recurring>, enter the routing number of the financial institution for the recurring payment. After you click <Save Changes>, the system will notify you if the routing number entered is not an approved ABA routing number by displaying an error provider icon errorprovidericon_cgus , with a pop-up error that says, "Bank Routing Number not on file." You will need to correct the routing number before you can save the recurring payment.

	Warning: If recurring payments are set up when loan frequencies are changed, you will need to discontinue the recurring payment, and then restart it using the new frequency. See Changing the Loan Frequency for more information.

Account Number

Mnemonic: RAACH#

Enter the account number of the financial institution for the recurring payment.

Amount

Mnemonic: RAACH$

When you click <Start Recurring> to set up a recurring payment record, the system automatically enters the regular payment amount (P/I Constant) in this field. You cannot make changes to this field. However, if the borrower wants to pay more than the regular payment, you can enter the additional amount in the Additional Principal field below, or you can enter an amount in the Override Payment Amount field below to override this default amount.

Note: If this loan has a modified payment schedule set up (using the Loans > Transactions > CP2 screen > Payment Schedule tab), the amount defaulted into the Amount field for recurring payments will reflect the amount from the payment schedule.

Additional Principal

Mnemonic: RAOPMT

If the customer wants to set up additional funds to include in recurring payments, enter that amount in this field. This amount will go directly toward paying down the principal, not the interest.

Fee Amount

Mnemonic: RAFAMT

This is an optional field to collect a convenience fee each time a recurring payment is pulled for this account. Your GOLDPoint Systems account manager can help set up the fee amount that defaults in this field. If you have proper security, you can clear the amount in this field if you think the fee should be waived.

If your institution collects a fee for each recurring payment, you need to set up the General Ledger account for the fee to be credited to on the GOLD Services > General Ledger > G/L Account By Loan Type screen using the EZPay Fee field and EZPay Offset field. However, if institution option EGPO (EZPay G/L Posting By Office) is set, the system uses the G/L account in the ACH Fee and ACH Offset fields for the account's office on the G/L Accounts tab of the GOLD Services > Office Information screen. See the Fees topic in the EZPay help for more information.

	GOLDPoint Systems Only: To create a default fee amount, use the GOLDPoint Systems > EZPay IMAC Table screen > Setup tab. Enter the default amount for recurring ACH payments in the Recurring ACH Fee field (EZRAHF).

Add'l Reserve Amount

Mnemonic: RAR1PM

If the customer would like to include any additional amount for reserve payments, enter that amount in this field. This will go toward the Reserve Balance on the Loans > Account Information > Reserves > Account Reserve Detail screen (Reserve 1 only), if reserves are part of the loan.

Override Payment Amount

Mnemonic: RAREQA

Enter any amount in this field and the system will use this amount for the recurring payment instead of the regular Amount. Each time the recurring payment is processed, it will pull this amount, even if the amount is lower than the regular payment amount. You may want to instruct users to only enter amounts greater than the regular Amount. Otherwise, the recurring payment amount will not be enough to cover the funds due on the Due Date (+ Grace Days), and the account will incur a late charge.

If any additional amounts are entered in the Fee and Add'l Reserve Amount fields, they will be added to the total amount pulled each effective date.

Frequency

Mnemonic: RAFREQ

The Frequency field in this field group defaults to the value of the established loan Frequency.

You cannot make changes to this field in this tab. See the Changing the Loan Frequency topic for more information.

	Warning: If recurring payments are set up when loan frequencies are changed, you will need to discontinue the recurring payment, and then restart it using the new frequency.

Recurring...days prior to Due Date Effective

Mnemonic: RADYSB

Select from the Recurring field the number of days prior to the Due Date Effective date that you want the recurring payment to occur.

For example, if you select "2" in the Recurring field, and the Due Date Effective date is set for "10/08/2019," then two days before the new effective Due Date (10/6/2019), the system will debit the account entered above, and apply that amount to the loan payment.

Auto Pmt is Savings

Mnemonic: LNACCK

Check this box if the automatic payment is from a savings account. The ACH transfer codes are determined from this field.

Note: This field is necessary so that outside institutions who allow the same account numbers to be used for both savings and checking accounts can determine which account is the correct one. On the Loans > History screen > Detailed History tab, "Y" means savings and "N" means checking. Therefore, if file maintenance reads "WAS Y ACH CKING OR SVING," the account was a savings account and the file maintenance changed it to a checking account.

Stop Loan Autopay

Mnemonic: RASLAP

Note: If an ACH payment return is received with a return code other than R01 (insufficient funds) or R09 (uncollected funds) and Institution Option ACFR (Auto Charge-off on Fatal Returns) is set, the system will automatically charge off the loan (transaction 2022-01) as well as stop all future one-time and recurring payments on the account. This field will also be marked during this process.

If ACH return code R08 (Payment Stopped) is returned on an account, this field will automatically be marked and recurring payments will stop processing on the account.

Cycle By Due Date

Mnemonic: RABYDU

If this box is checked, the Due Date will be used for the date the recurring payment is processed. When this box is checked, the system uses the Recurring ... days prior to Due Date Effective fields to establish when the system pulls the recurring payment.

Recurring Information (FPRA) tab

Recurring Information (FPRA) tab