Line of Credit Maintenance

Overview of IL802

Line of Credit Maintenance may be used either to establish a new line of credit or to modify an existing line of credit.

• From the DDI Connect main menu, double-click Financial Services
• Double-click Line of Credit
• Double-click Transactions
• Double-click Line of Credit Maintenance. You will see this screen:

Adding a New Line of Credit

To add a new line of credit, click the Add button on the toolbar. Your screen will now look like this:

There are several tabs available on this screen.

Summary tab

The Summary tab appears as such:

The following fields are available on this screen:

Field	Description
Credit limit	Maximum amount that can be advanced to the borrower
Account	Type the borrower's account number
Last interest post date	Example
Last advance	Example
Credit balance	Any advanced dollar amount yet to be repaid for this line of credit
Interest due month	Monthly interest due on this line of credit
Interest now posted	Interest currently posted to this line of credit
Actual interest due	Accrued but unpaid interest balance for this line of credit
Due amount	The total amount of monthly interest calculated at the end of each month less the total interest amounts associated with each line-of-credit payment received. At the end of each month the interest attributable to that month is calculated, interest is deemed due by the beginning of the next month. This gives the borrower 30 days to send in payment before the interest amount is considered delinquent
Refund amount	Current refund balance for this line of credit
Maintenance fee due	Current maintenance-fee balance for this line of credit

To enable the additional fields on this screen, enter the credit limit and account information, then click Save. Now, click Edit. The additional fields activate:

Amounts tab

When you click the Amounts tab, you will see this screen:

The following fields are available on this screen:

Field	Description
Advanced YTD	Total dollar amount advanced to the borrower during the current year
Advanced total	Total dollar amount advanced to the borrower on this line of credit
Adv fees paid YTD	Total advance fees paid by the borrower for the current year
Adv fees paid total	Overall total advance fees paid by the borrower
Maint fee paid YTD	Total maintenance fees paid by the borrower during the current year
Maint fee paid total	Total maintenance fees paid by the borrower on this line of credit
Principal paid YTD	Total principal paid by the borrower during the current year
Principal paid total	Total principal paid by the borrower on this line of credit
Interest paid YTD	Total interest paid by the borrower during the current year so far
Interest paid total	Total interest paid by the borrower on this line of credit

Settings tab

When you click the Settings tab, you will see this screen:

The following fields are available on this screen:

Field	Description
Delinquent	Example
Advance fee rate	Percentage deducted from the advance amount for an advance fee, if applicable
Times delinquent	Example
Maint fee rate	Example
Line type	Example
Interest rate	Example
Monitor	Example
Base interest rate	Minimum interest rate to be charged to the borrower
Interest method	Example
Approved	Date when the line of credit was approved or will be approved to begin issuing advances
Rate adjust method	Example
Expire	Example
Adjust frequency	Frequency with which the interest rate of the line of credit is eligible for adjustment. Click the drop down arrow to select the adjustment frequency
Next adjust	Example
Currency	Currency selection used to ensure that partial payments are not applied to lines of credit with different currency codes. One borrower may have multiple lines of credit, for example. But instead of supplying multiple checks, the borrower may send in one large check to be processed across the different lines. If the check has been written using U.S. funds, DDI-Connect will ensure that only lines of credit with a U.S. currency code can receive partial payments. Click the drop down arrow to select the currency
Active	Whether or not the selected line of credit is currently active (yes/no). This field is maintained by the user. Lines of credit can reach a balance of $0.00 but still remain eligible for advances. Your organization determines when the line of credit is no longer active and must change the active value from yes to no