I get a suspense reason of "INVALID TRANS CODE" when I run a payoff. On the payoff quote, this amount is shown as escrow interest, but there are no escrows attached to this loan.

Solution

There were Escrow Records attached to this loan at one time that were earning interest. When the escrows were deleted, the I (Interest) Record had a balance. When an account is paid off, normally the money is moved into the first open Escrow Record and then applied to the payoff with Tran Code C1, C2, etc. In the case where there are no Escrow Records attached to the loan, the money can't be moved and these tran codes do not apply. Therefore, the suspense error of "INVALID TRANS CODE." To clear the suspense item, a Tax Record (Escrow Type 1) needs to be set up in (03.12.02.<F7>) or (03.23.03.<F7>). Then, to clear the suspense GL, go into the group through (03.06.<GROUP>.<D>) to display the transaction. Select <F2>MODIFY and enter the transaction number. In Field 2, enter the Tran Code C1. Then, close the suspense group (03.06.<F8>.<GROUP>) and update again (03.07). This clears the transaction and closes the account correctly.