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1. |
Print the LOAN ADJUSTMENT EXCEPTION REPORT (03.19.09). Check the report to insure that all loans
have current data and information is not missing. |
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2. |
Print the INTEREST ADJUSTMENT TICKLER (03.17.15.01) and the PAYMENT ADJUSTMENT TICKLER (03.17.15.02).
Check to see there are loans due to adjust in the next 0-30 and 30-60 days range. |
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3. |
Check the INTEREST INDEX TABLES and the date they were last updated. Depending on the table, you
may have forgotten to put a current change of index rate in the table. The tickler report does NOT
indicate the rate, it will use only the last entry to that table. (09.09) |
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4. |
Print the CHANGE NOTICE AUDIT (03.17.15.03.01). This will list all loans that a notice will be
printed. Make sure the information that is printed on this report is what you want printed on the
borrower's notice. |
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5. |
Print the NOTICES (03.17.15.03.02). This form is available to print on a laser printer using your
in-house letterhead. |
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6. |
If the printed notices were incorrect, the operator can make the necessary changes to the Master
Record and reprint DUPLICATE NOTICES (03.17.15.03.03). The duplicate notices will print the corrected
information. Printing a duplicate notice will update the Payment Adjustment Table. |
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7. |
The new information is stored in the Payment Adjustment Table until the payment is applied. When
the notice is printed, the system automatically inputs a Code 6 in Field 95 PAYMENT ADJ FLAG. Once the
payment is updated, that brings INTEREST PAID TO DATE (Field 24) equal to the INTEREST ADJUSTMENT DATE
(Field 54). The Master Record will reflect the new information in Field 64 INTEREST RATE and Field
65 P&I PAYMENT. |
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8. |
The change can be viewed on the LOAN STATUS screen (03.01.<S>) for easy reference prior to
the time of the Master Record being updated. |
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9. |
Once the adjustment takes place the loan is automatically entered into either 01. COUPONS (03.17.01)
or 05. DEBIT MEMO NOTIFICATION (03.17.05) queue for new payment coupons to be printed reflecting the
new P&I amount. These coupons will print to the date in Field 92. |
