Date

The Date column contains the date of the transaction in MM-DD-YYYY format, where MM is the month, DD is the day, and YYYY is the last two digits of the year.

Transaction Description

The transaction description column contains a brief description of the transaction this history item represents. Some examples are:

OPEN NEW LOAN
REGULAR PAYMENT and LOAN DUE DATE
RESERVE 1 REFUND
RESERVE 2 REFUND
RSRV DISBURSEMEN and DESCRIPTION
RESERVE 2 DISB
ASSESS LATE CHAR
LATE CHARGES PAID
WAIVE LATE CHARG
LOAN FILE MAINT
AMORT DEFRD COST
MISC DEBIT
POST RSR 1 IN
DEBIT FIELD
CREDIT FIELD
LOAN PAYOFF
POSTING RT

For a list of all transaction codes, see the Loans Transactions manual in DocsOnWeb.

Also, when a reserve 1 or 2 disbursement is made, the disbursement description is shown on a second line.

The history program stores the effective interest rate when a payment is posted. It is displayed in history as "POSTING RT." This is the interest rate that was in effect for the loan payment that was posted.

The effective rate is the rate used by the system to calculate interest. For fixed rate and rate-sensitive loans it would be the loan rate (LNRATE); for construction loans it would be the LIP rate (LNLRAT); for ARM loans it would be the current accrual rate (LNAMRT).

This history item does not mean the rate has changed; it is a reference of the rate in effect for the due date of the payment being posted.

Principal, Interest, Reserve, Refund, and Balance

These columns display the amount of the transaction that went to principal, interest, reserve, or refund on the loan account. The Balance column gives a running principal balance of the loan after the transaction shown.

Due Date

When a regular payment is made, the due date for the payment is displayed in this column. However, if a payment is reversed, the due date is not displayed.

Late Charge

If a late charge was paid with the payment transaction, the late charge paid appears here.

Fee

If a fee was paid with the transaction, the fee paid appears here.