Navigation:  Appendix A - Merge Field Descriptions (Loans) >

Event 13, Reserve Tax Payment Letter

Navigation:  Appendix A - Merge Field Descriptions (Loans) >

Event 13, Reserve Tax Payment Letter

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This event record is generated when the system encounters tran codes 440 (reserve 1 disbursement), 448 (reserve 1 disbursement correction), 640 (reserve 2 disbursement), and 648 (reserve 2 disbursement correction) for a single family owner-occupied loan (collateral code 1-4 and LNOWNR is checked) for any of the following Reserve Disbursement Type codes:

 

Code

Tax Code Description

10

Taxes paid from reserve funds

12

Additional taxes paid from reserve

16

Property taxes

17

Special assessments-property improvements

18

Special handling-taxes paid from multiple notices or on multiple properties

19

Delinquent taxes paid for prior years from reserve account

79

Property tax - town

80

Property tax - city

81

Property tax - school

82

Property tax - utility

 

An event letter will be generated for each separate reserve disbursement type code processed on the account. If multiple disbursements are performed for the same disbursement type code, only one event letter will be generated for the combined amount.

 

This event letter is automatically generated; it cannot be manually ordered.

 

Note: No event letter 13 will be generated if a tran code 448 or 648 is processed on the same day for the same amount as the original transaction.

 

Merge Field

Field Mnemonic/ Calculation

Description

TAX PAID AMOUNT

TRNLOG

Tax paid amount from reserve

TAX DESCRIPTION

TABLE

Tax code description pulled from the "Tax Code" table. These are GOLDPoint Systems-defined codes.

 

 

See also:

Appendix A

Common Fields (All Events)

CIS Fields

Basic Loan Fields

 

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