Overriding Default Loan Request Details

Screen ID:

Screen Title:

Panel Number:

ULNAPF-01

Loan Information Override

5223

This screen appears when you use Override (F13) from the Loan Recap screen.

This screen is used when the figures from the system's amortization calculations need to be modified for this specific loan application. In essence, you are overriding the default characteristics of this loan, to make it behave differently from other loans of the same type. When you have completed your changes, use F5-Update to return to the Loan Recap screen.

BE CAREFUL: If items such as interest rate or payment amounts are changed here, the system will not recalculate a new amortization schedule.
When changes are made to a loan application using this screen, the new values will appear on the Loan Recap screen with an asterisk next to the updated values. The title will then read, Override Performed.
You can query the LNMOD file to view changes made using this screen.

Field Descriptions

Field Name	Description
Amount requested	The total amount requested by the member.
Refinance amount	This field is used only when a new loan application will take the place of another closed-end loan already in place. This field is used to indicate the payoff amount of the other loan.
Payment amount	The periodic payment amount for this loan.
Final payment	The final payment amount. Remember that this figure will vary depending on the timing and amounts of actual payments over the life of the loan.
Number of payments	The number of payments to be made over the life of the loan.
Amortization term	(For balloon loans only.) The number of payments used when calculating loan amortization. For example, say a member has a balloon loan for a 48-month term, but will be making 24 payments. The No payments field would read “24” and the Amort term field would read “48.”
Interest rate	The interest rate to be charged on this loan.
Interest charge	Not used.
Modified APR	The interest rate for the loan with other variables such as miscellaneous fees factored in. (See Loan fees to include in Modified APR below.)
Finance charge	The total amount of interest charged over the life of the loan.
Loan fees to include in Modified APR	This optional field lets you record an amount that could then be printed on a custom form to indicate fees that are included in the Modified APR calculation.
Life insurance term	The number of months for which insurance coverage will apply. This is taken from insurance configuration, and is generally the same as the term of the loan. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
Disability insurance term	If disability life insurance was selected for this loan, this field shows the insurance carrier code. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
Single vendor or SDP vendor	If single credit life insurance was selected for this loan, this field shows the insurance carrier code. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
Single premium or SDP fees	If single credit life insurance was selected for this loan, this field shows the premium amount. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
Joint vendor or JDP vendor	If joint credit life insurance was selected for this loan, this field shows the insurance carrier code. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
Joint premium or JDP fees	If joint credit life insurance was selected for this loan, this field shows the premium amount. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
CDI vendor	If credit disability insurance was selected for this loan, this field shows the insurance carrier code. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
CDI premium	If credit disability insurance was selected for this loan, this field shows the premium amount. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
Total amt financed	The total amount used to calculate the payment, including any insurance premiums. In special situations, credit unions who use single-premium insurance calculations that are not supported by CU*BASE may need to adjust this amount before creating the loan.
Insurance total or Total DP fees	The total insurance premiums for this loan, if any. WARNING: In rare cases these fields can be used to manually add coverage amounts if none was added to the application using your configured coverage codes. However, if you have already added coverage when setting up the loan request, the data cannot be changed here. If you adjust these amounts manually the system will clear all premium data automatically when you use Update, since premiums must match your coverage configurations.
Total payments	The total amount to be paid over life of the loan, including principal, interest and any insurance premiums.
Disbursement date	The date on which the loan funds will be disbursed to the member. This is used primarily when calculating the amortization schedule.
Maturity date	The date the loan matures, calculated from the Disbursement date.
Rollover date	For balloon loans, the date on which the final balloon payment will be due. (This date is also referred to as the Amort Term Date on some screens.)