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The following institution options are available when posting loan transactions from the Mass Loan Payments screen:
OPT 8 BSOV: Allows you to bypass the supervisor override when posting payments for payment method 6 where the borrower pays more than the scheduled amount (if the loan has not been sold to an investor).
OPT Y CFEE: Requires a TOV when posting a payment if miscellaneous fees are due on the loan. (This option is available for all payment methods.)
OPT Y BTOV: Stops the requirement for a TOV when posting a loan payment for an amount greater than the payment amount. This was created for processing mass payments; however, it also works with regular loan payments. (This option is only available with payment method 5 loans.)
OP01 BKPM: Bankruptcy (Hold Code 4 and 5)
Allows a principal decrease (tran code 510/518)
Allows a principal increase (tran code 500/508)
Allows a pay-off (tran code 580)
Allows a loan payment (incl. auto payments) (tran code 600/608)
Allows a "teller spread" payment (tran code 690/698)
Allows payment of late charges (tran code 550/558)
Allows waiving of late charges (tran code 570/578)
Allows VSI Add (tran code 870/878)
Allows VSI Cancel (tran code 890/898)
Allows assessing of misc. fees (tran code 660/668)
Allows a payment of misc. fees (tran code 850/858)
Allows waiving of miscellaneous fees (tran code 670/678)
Allows a partial payment (tran code 510/508 to field 33)
Allows an automatic payment
Option BKPM allows loans with a bankruptcy Hold Code 4 or 5 to be posted without a teller override.
OP01 PIWD: Allows interest to be paid only in full-day increments for payment method 6 loans. If this option is set, when a payment is posted (600 transaction code only), interest will only be paid in full-day increments. For example, if the per diem is $5.50, only multiples of $5.50 would be paid to interest ($5.50, $11.00, $16.50, etc.), up to the full amount of interest owed. Any remaining amount will be applied to principal. If the amount paid is less than the per diem, no interest will be paid.
The result of this option will be a more accurate Date Last Paid To.
Example:
Given:
Principal balance: $3,816.10
Loan rate: 30.0000%
Interest base: 365
Per diem: $3.14
Interest for 30 days: $97.34
P/I constant: $264.00
A payment of $100.00 divided by the per diem of $3.14 will be 31. The per diem multiplied by 31 is $97.34. The remainder of the payment ($2.66) will be applied to the principal.
OP02 APCO: Charge-Offs (Hold Code 2)
Allows a loan payment (including auto payments) (tran code 600/608)
Allows a "teller spread" payment (tran code 690/698)
Allows payment of late charges (tran code 550/558)
Allows waiving of late charges (tran code 570/578)
Allows VSI Add (tran code 870/878)
Allows VSI Cancel (tran code 890/898)
Allows assessing of misc. fees (tran code 660/668)
Allows a payment of miscellaneous fees (tran code 850/858)
Allows waiving of miscellaneous fees (tran code 670/678)
Allows an automatic payment
OP03 ACCO Charge-Offs: (Hold Code 2)
Allows a principal decrease (tran code 510/518)
Allows a principal increase (tran code 500/508)
Allows a pay-off (tran code 580)
OP03 PM07: Allows you to bypass the supervisor override when posting payments for payment methods 0 and 7 where the borrower pays more than the scheduled amount (if the loan has not been sold to an investor).