OPENING BALANCE

INOBAL

This field displays the add-on insurance premium amount. It is pulled from the Original Premium field on the Loans > Insurance > Policy Detail screen.

POLICY NUMBER

INPLCY

This displays the policy number of the insurance policy.

DATE OPENED

LNOPND

This field displays, in MMDDYY format, the date the loan was opened or funded.

INSURANCE EXPIRATION DATE

POEXPD

The date in this field has two purposes:

1.It is the date the payoff quote record expires. The system will save the payoff quote record until the afterhours of the date in this field, then it will automatically be dropped from the Loan system in the afterhours processing.

2.It is the expiration date of the lock-in, if the loan record is locked-in. The lock-in will be released after this date.

DESCRIPTION

INDESC

This field is used to specify the insurance company or to describe the type of insurance. The description placed in this field is automatically entered in the Amount column on the Adjustments tab of the Loans > Payoff screen.

TERM IN MONTHS

INTERM

This field contains the term of the insurance policy in months.

ACCOUNT TYPE

INTYPC

This is the type of insurance set up for this loan.

AGENT NUMBER

INAGNO

This field displays the code number of the insurance agent.

COMPANY NUMBER

INCONO

This field displays the company number of the insurance company.

NEXT PRINCIPAL AND INTEREST PAYMENT

LNPINX

This is the amount of the next payment due. It may include principal, interest, late charges, or any other factors pertinent to an individual loan, such as reserves, based on what is entered in the Payment Application field on the Loans > Account Information > Account Detail screen.

ORIGINAL FINANCE CHARGE

INNORG

This field displays the original amount of the insurance finance charge.

These fields are used in connection with Forced-placed VSI insurance for loans with precomputed interest (payment method 3).

The finance charge is the amount of interest added to the VSI premium. This amount is amortized each month and posted to the General Ledger. In addition, if the policy is cancelled using the Cancel VSI transaction (tran code 2890-00), the unamortized amount is refunded to the borrower as a principal decrease.

See also the Force Place VSI transaction (tran code 2870-00).

REMAINING TERM BEFORE EXPIRATION

Calculation Field

When using premium rate tables, this is the rate pulled out of the table, based on the remaining term of the insurance policy. It will only appear if using amortization method 3 (renegotiable rate) and a valid table number is in the Premium Rate Table field (INTBLN) on the Loans > Insurance > Policy Detail screen, Miscellaneous Fields tab.