Loan Process Types

Following are valid Process Type codes for configuring loan category codes:

 

Process Type

Description

E Closed-End

The most common, this process type allows for a fixed term, fixed payment consumer loan, using a normal amortization calculation. With this type, after the full amount of the loan has been disbursed, it is not possible to make additional disbursements on the loan.

Stored in File: MEMBER5

O Open-End

Used for open-end type loans where additional disbursements must be handled through a loan officer. (Also see the “L” process type below.)

Stored in File: MEMBER5

C Construction

Used for construction type loans, and can be linked to a “M” mortgage type loan, so that when the loan matures it can automatically roll over into a mortgage loan.

Stored in File: MEMBER5

L Line of Credit

Used for open-end type loans where automated payment changes and automated loan disbursements are allowed.

Stored in File: MEMBER6

S Student Loans in Interim

Used for student loans subject to Student Loan Processing. This type can be linked to a “P” process type so that when the loan matures it can automatically roll over into a “Student Loans in Payout” type loan. Interest can be accrued to a “Government Interest Due” bucket.

Stored in File: MEMBER5

P Student Loans in Payout

Used for student loans subject to Student Loan Processing. Interest can be accrued to a “Government Interest Due” bucket.

Stored in File: MEMBER5

M Mortgage

Similar to the closed-end process type, but can be linked to escrow accounts and can use a 360-day interest calculation type.

Stored in File: MEMBER5

V Online Credit Cards (Visa, MasterCard, etc.)

Used for CU*BASE online credit card loan products.

Stored in File: MEMBER6

For information about the unique configuration features for these types of loans, refer to the Online Credit Card Processing Configuration Guide.

 

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#Process_Types.htm