Loans > Loan Screens > Transactions Screen Group > Mass Loan Payments Screen

Click this radio button on the Mass Loan Payments screen to process a Regular Payment transaction (tran code 600-00). See the main screen help for more information about processing transactions on this screen.

Loan Payment—Notes:

1.When posting a payment on a loan that is two or more payments past due for this tran code, the system requires a teller override (TOV).

2.For contract collections, late charges included in the regular payment are shown in the seller history as a separate item. If a correction transaction is processed on the same day and for the same amount as the 600 transaction regular payment, both transactions are cancelled. Otherwise, the correction will show on the Afterhours Processing Exceptions Listing (FPSRP013).

3.When posting a payment on a payment method 5 loan that is higher or lower than the actual amount, the system will require a TOV and display one of the following messages: "TOV AMT TOO LOW -- PMT IS $XXX.XX" or "TOV AMT TOO HIGH -- PMT IS $XXX.XX."

4.For payment methods 0, 1, 2, and 7, when posting a payment on a loan that has received a partial payment, the system requires a teller override (TOV).

5.When making a reversal of a payment tran (600), if one or more 500s and/or 510s were posted after the payment was posted, all the 500s and 510s must be reversed prior to the reversal tran (608). If one or more 500s and/or 510s were posted and you only want to reverse one particular transaction (and not the payment), you don't have to reverse all of the transactions posted after that transaction, just that transaction itself.

See Regular Payment Options for information about institution options that pertain to loan payments.