Loan Screens > Account Information Screen Group > Account Detail Screen > Payment Detail tab > Options field group

Entry: User, numeric

F/M: Yes

Mnemonic: LNWIDY

Screen: Loans > Account Information > Account Detail > Payment Detail tab

This option is available for customers who are set up to make automatic payments (on the Loans > Account Information > Payment Information screen) but who also want to make additional payments within the same frequency. This option affects the number of times the system rolls the Due Date for payments. When this option is set, the Due Date should only roll once, even though more than one payment is made. Note: This option cannot be set to zero.

For example, the system processes an automatic payment on the same date as the Due Date. The value in this field is “2” (meaning two days before the Due Date). The customer makes a walk-in payment two days before the Due Date. Therefore, the system would roll the Due Date when the walk-in payment is made, but it would not roll the due date when the automatic payment is processed two days later.

Furthermore, if a customer makes a payment five days before the Due Date (and the value in this field is “2,” meaning two days before the Due Date), the system will not roll the due date, because the payment was not made within the number of days indicated in this field. However, when the automatic payment is processed five days later on the Due Date, the Due Date is rolled to the next payment Frequency.

This field works best if it is set to “2” or “3” (meaning two or three days before the Due Date) and the Recurring days prior to Due Date Effective field (on the Payment Information screen) is set to zero. This field determines when the system process the automatic payment and rolls the Due Date.

In order to use this field, the account's payment Method must be 3, 6, or 16. Use Spread Payments must be marked for payment method 3 or 6 loans.

If your institution wants to use this field but it does not appear in CIM GOLD, contact GOLDPoint Systems.