Loan Transaction Reason Maintenance
Overview of IL463UPD
As various transactions occur during the life of a loan, there may be additional information that proves beneficial for trend analysis. For instance, the reason behind loan refinances (both for incoming refinances and outgoing refinances) may be important to track in order to spot trends and adjust lending policies. The transaction analysis maintenance screen allows users to associate various Name/Address codes (Series 658) to a particular loan transaction. Results can then be seen at an organization level by running a report with an appropriate date range. To create a transaction analysis record:
- From the DDI Connect main menu, double-click Financial Services
- Double-click Financial Inquiry
- In the Loan field, enter the loan number you wish to work with. You can also click the list icon to select from a list of all loans within the system
- From the Detailed Loan Inquiry screen, click View and select Transaction Reasoning. You will see a screen similar to this one:
The following information is available on this screen:
| Column | Description |
|---|---|
| Tran | Transaction ID code |
| Date | Transaction date, inherited from loan transaction browse |
| Reason | Transaction Reason Code based on Name/Address code series #658. Reason codes can be modified by each organization to suit their reporting requirements and/or standards |
| Principal | Amount of principal change, if applicable |
| Interest | Amount of interest change, if applicable |
| Reserve | Amount of reserve change, if applicable |
| Total | Total amount of changes across principal, interest & reserve columns |
| Tran | Transaction number, inherited from loan transaction browse |
| Sub | Sub transaction number |
| Acct | Loan number affected by the transaction(s) |
To add a new loan transaction reasoning record, click the New button on the toolbar. The following fields will activate:
As you can see, there are only 3 fields available for editing:
| Field | Description |
|---|---|
| Amount | Transaction amount, inherited from loan transaction browse but can be modified by user. Only impacts amount listed on transaction analysis report. Useful in situation where the actual loan transaction total does not provide the exact transaction amount that is relevant for transaction analysis purposes |
| Reason | Transaction Reason Code based on Name/Address code series #658. Reason codes can be modified by each organization to suit their reporting requirements and/or standards |
| Description | Free-form text field where users can describe details behind transaction reason. Description will be listed on transaction analysis report |
When you have finished entering the information, click Save to retain the changes.
If you wish to view the Transaction History for a line item, click once to highlight it and then click the History button on the toolbar. This will take you to the Edit History for this transaction, where you can view the Before/After details.
When you have finished viewing/editing information on this screen, click Exit to return to the Detailed Loan Inquiry screen.
