CIM GOLD What's New > What's New in Version 7.21.1

Note: Changes and enhancements made to Payment Calculator are mostly institution-specific and may not make sense if you are not the institution that requested it. We advertise these changes here, so your institution will be aware of the changes we have implemented. The work order number, if provided, will help you know if the change you requested is now available. If ever you need adjustments to any of your loan types used in Payment Calculator, please contact your GOLDPoint Systems account manager.

Enhancement	Description
Origination Fee Adjustment for NC Law Compliance CMP: 13260 CIM GOLD version 7.21.1	North Carolina law prohibits charging more than 2 origination fees in a 12-month rolling period. The system has been updated to accommodate this restriction and maintain compliance for institutions doing business in NC.
Processing Fee Correction for Reinstated Loans CMPs: 12341 Work Orders: 56615 CIM GOLD version 7.21.1	Certain institutions were experiencing an error where processing fees for loans that had been reinstated were not being properly counted towards the number of fees allowed each year. In essence, the system wasn't counting the reinstated loan as previously voided, so it determined that the fee limit had been reached. This error has been corrected and the system now properly distinguishes reinstated loans when regarding processing fees.
Kentucky Rate Adjustments CMPs: 12049 Work Order: 56264 CIM GOLD version 7.21.1	This CMP and Work Order pertain to formula adjustments made in order to accommodate new interest rate structures for institutions doing business in Kentucky.

Enhancement

Description

Origination Fee Adjustment for NC Law Compliance

CMP: 13260

CIM GOLD version 7.21.1

North Carolina law prohibits charging more than 2 origination fees in a 12-month rolling period. The system has been updated to accommodate this restriction and maintain compliance for institutions doing business in NC.

Processing Fee Correction for Reinstated Loans

CMPs: 12341

Work Orders: 56615

CIM GOLD version 7.21.1

Certain institutions were experiencing an error where processing fees for loans that had been reinstated were not being properly counted towards the number of fees allowed each year. In essence, the system wasn't counting the reinstated loan as previously voided, so it determined that the fee limit had been reached. This error has been corrected and the system now properly distinguishes reinstated loans when regarding processing fees.

Kentucky Rate Adjustments

CMPs: 12049

Work Order: 56264

CIM GOLD version 7.21.1

This CMP and Work Order pertain to formula adjustments made in order to accommodate new interest rate structures for institutions doing business in Kentucky.

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