Entry: User, drop-down list
F/M: Yes
Mnemonics: See below
Screen: Account Detail and several others
Use this field to enter an action code for the loan. Click the list icon 
to the right to select a code.
Note: To clear data from this field, double-click the blank line at the top of the dialog.
GOLDWriter Mnemonics
The GOLDWriter Mnemonics for the Action Code fields are as follows:
Field
|
GOLDWriter Mnemonic
|
Action Code 1
|
LNACCD
|
Action Codes 2-9
|
LNA2CD-LNA9CD
|
Action Code 10
|
LNA10C
|
Action Date 1
|
LNACDT
|
Action Dates 2-9
|
LNA2DT-LNA9DT
|
Action Date 10
|
LNA10D
|
|
There are 255 available action codes and their respective dates when those codes took affect. Codes 1 through 219 are defined by FPS GOLD, and codes 220 through 255 can be defined by your institution. See the User Defined Action Codes 220-255 list view on the System Setup > Action Code Description screen for details on assigning descriptions to action codes. Once a description is set up, it will appear on any screen where action codes appear and in the Action Codes dialog.
The following list defines the available action codes that can be entered in any of the ten 3-digit action fields.
| CODE | DESCRIPTION OF ACTION |
| 1 | Balloon payment due—based on the balloon payment date on the loan |
| 3 | Rate adjustment required |
| 6 | Short term construction loan due |
| 7 | Land development loan due |
| 8 | Buy down privilege expires |
| 10 | Contract sale balloon payment due |
| 11 | Assumption 5-year rate bump |
| 13 | Seller paying difference |
| 14 | Prime sensitive construction loan |
| 15 | Growth equity mortgage graduated payments prescheduled |
| 16 | Review year-end statement |
| 17 | Send notice of rate change |
| 19 | FNMA conversion option expires |
| 20 | Refinance option expires |
| 22 | Rate cap option may be in effect |
| 23 | Locked in loan payoff—Entered automatically when a loan is locked in for payoff by clicking <Lock> in the Payoff Fields field group on the Loans > Account Information > Payoff screen, Balances tab. The action code date will be the same as the payoff Expire Date. You can remove the action code and date manually, if the action date is still in the future. If today is greater than the action code date, the system will give an error message "ACTION CODE 23 CANNOT BE IN THE PAST." To remove this code and date, you must unlock the payoff by clicking <Unlock> in the Payoff Fields field group on the Payoff screen. Then code 23 and the date will automatically drop. |
| 24 | Special adjustment—Refer to loan |
| 26 | Fixed rate conversion option 1 |
| 28 | Curtailment/Payoff Lock Out (SOV)—Requires an SOV for either a payment with a curtailment or for just a curtailment. This code requires a supervisor override when posting a payment that includes extra principal. A supervisor override is also required when posting a curtailment (tran 510 to principal) to close a loan. If the action code date is in the past, the action code is ignored. |
| 29 | Stops repricing—Prevents a loan from repricing from the action date forward as long as the action date is equal to or less than today. If the action code is left blank or is a date in the future, the loan will continue to reprice. |
| 30 | Quarterly and monthly rate adjustment |
| 32* | Three-year adjustable |
| 34* | Seven-year adjustable |
| 36 | Stop date for prepayment penalty. If afterhours update function 88 is set, the prepayment penalty code will automatically be removed on the night of the action date. |
| 37 | Payoff transaction date |
| 38 | Change subsidy amount/constant |
| 39 | Stops deferred fees and premiums from amortizing up to the action date. This action code would generally be used if you have loans that have not been sold, but that you are planning to sell. |
| 40 | Stop loan rate roll until action date |
| Note: Refer to the description following the list of available action codes for more information. |
| 41 | Force loan rate roll to current index + margin. See code 75. |
| Note: Refer to the description following the list of available action codes for more information. |
| 42 | Change % of principal on HELOC |
| 43 | End of draw period; review Note |
| 44 | All assignments received |
| 45 | Recorded trust deed received |
| 47 | Reinstate Service Fee PM5 |
| 48 | FNMA 0.0 Rate Adjustment (EAI) |
| 49 | FNMA 0.5 Rate Reduction (EAII) |
| 50 | FNMA 1.0 Rate Reduction (EAIII) |
| 52 | Line-of-credit amortization end date |
| 53 | Reversal/reapply not completed. Automatically entered when a loan is in the payment reversal process. |
| 55 | Suspend Statements Until Date. Commercial Statements (FPSRP300) will not generate until the date is reached or the loan has transaction activity; then it will produce a statement and display history back to the open date. |
| 58 | Original amortized maturity date. Manually entered. |
| 59 | Stops the Non-performing field from changing if the institution is using the auto change option (update function 59). No action date is required. |
| 60 | Borrower financial statement required |
| 61 | Business financial statement required |
| 62 | Stop ACH on Date—Stops ACH payment from processing on the date indicated in the Action Codes & Dates field. The action code makes sure the Action Code Date is equal to or before the Loan Due Date. If there is an action code 62 but no action date, the system treats the account as though there is not an action code 62. Note: This action code will change the automatic payment message on FPSRP294 and FPSRP300 to indicate that there are no longer automatic payments set for the payment on the loan. |
| 63 | SBA Settlement (Settlement date needed.) Settlement date is entered in the Action Date field next to this action code. Loan is considered to be unsold prior to this date and sold on and after this date. Important for SBA reporting purposes. |
| 64 | SBA 4—Deferred (date needed) |
| 68 | SBA 8—Purchased by SBA |
| 69 | SBA 9—Fully Undisbursed (approval date needed). Approval date is entered in the SBA Approval Date field on the Loan Investor Fields screen. When the run date of the SBA Monthend Report (FPSRP020) is greater than 90 days after the approval date, the loan is reported as a status code 9, if no disbursements have been made on the loan. This applies to loans in process (LIP) and payment method 5 loans that have not yet advanced funds on the loan. |
| 70 | Review letter of credit |
| 71 | Review standby letter of credit |
| 72 | Stops ACH payment from processing until after action date. If there is an action code 72 but no action date, the system treats the account as though there is not an action code 72. Similar to action code 195, except 195 is only for line-of-credit accounts. Note: GOLDPhone and Web payments initiated by the borrower are not stopped, regardless of whether there is an action code 72 or not. |
| 75 | Force loan rate roll to current index plus the margin plus compares to Prime Lower Limit and Prime Upper Limit for rate sensitive payment method 5 and payment method 6 loans. |
| See code 41. Note: Refer to the description below following the list of available action codes. |
| 76 | Calculates P&I payments for PM5 loans. In addition, if the maturity date is less than or equal to the action date, the principal balance will be entered in the P/I Payment field. |
| 77 | Stop automatic charge-off |
| 78 | Deferred loan fee start date if different than loan Date Opened |
| 79 | LIP changed from charge to bill |
| 80 | Relief provisions (FNMA action code 12) |
| 81 | Bankruptcy/litigation (FNMA action code 15) |
| 82 | Referred for deed-in-lieu (FNMA action code 20) |
| 83 | Referred for foreclosure (FNMA action code 83) |
| 85 | FNMA 70 = Liquidation held for sale (also works for Citimae reporting.) (FNMA action code 70 - real estate owned.) |
| 86 | FNMA 71 = Liquidation, third-party sale (also works for Citimae reporting.) (FNMA action code 71 - foreclosure) |
| 87 | FNMA 72 = Liquidation, pending conveyance (also works for Citimae reporting.) |
| 88 | Assigned to FHA/VA (also works for Citimae reporting.) |
| 89 | FNMA 00 = FNMA correction (also works for Citimae reporting) |
| 94 | Credit Bureau date of occurrence. (This is the earliest date the delinquency began, resulting in foreclosure or bankruptcy. Refer to the documentation for the various credit bureaus. Entered in conjunction with hold codes 1, 2, 4, 5, 6, 7, 9, 91, 92, 93, 94, 95, 96, 97, 98 and 99.) Refer to action code 194. |
| 95 | Participation loan in progress |
| 96 | Aggregate analysis statement at payoff. (Tran code 580 sets the action code) |
| 98 | Refer to Investor Reporting |
| 99 | Judgment awarded (also see hold code 90) |
| 100 | Orders coupons (Will change to a 101 when put on tape or printed at FPS GOLD) |
| 101 | Coupons printed at FPS GOLD or placed on vendor tape |
| 103 | Account pledged as of investor expiration date stops teller trans |
| 104 | Account sold—Servicing has been released - needs to be dropped if you unrelease a loan - stops teller trans. |
| 105 | Orders coupons for the current interest rate period—ARM loans only |
| 106 | Coupons ordered for current period—ARM loans only |
| 107 | ARM prepayment received; system rolls rate from Next Rate field (LNAMNA) to Current Rate field (LNAMRT) in the afterhours. |
| 108 | ARM prepayment received for an investor loan; system rolls rate from Next Guaranteed Rate field to Current Guaranteed Rate field |
| 109 | Order new billing statement on date specified. Payment method "5" only. *Note: Action code 109 description follows list of available action codes. |
| 110 | Order new mortgage statement |
| 123 | Request "New Loan Audit Report" (FPSRP123)—An option is available to exclude this action code from this report. |
| 124 | Cancel MGIC or other PMI insurance if using tape to tape. Date must also be entered. |
| 125 | Do not drop loan in closed loan drop. Date does not need to be entered. |
| 126 | Skip this loan when deleting dead history. Date does not need to be entered. |
| 127 | FHLMC EDR-H6 Eligible for HAMP |
| 128 | FHLMC EDR-H7 HAMP in Review |
| 129 | FHLMC EDR-H8 HAMP Modification Agmt Sent |
| 130 | FHLMC EDR-H9 HAMP Modification Agmt Rec |
| 131 | FHLMC EDR-HA Workout in Review |
| 132 | FHLMC EDR-HB Short Sale in Review |
| 133 | FHLMC EDR-11 Repayment Plan in Review |
| 134 | FHLMC EDR-HD Modification in Review |
| 135 | FHLMC EDR-H3 BPO Ordered |
| 136 | FHLMC EDR-H4 Solicitation Letter Sent |
| 137 | FHLMC EDR-H5 Cmplt Response Pkg Recv |
| 138 | FHLMC EDR-HC Short Sale Denied |
| 139 | FHLMC EDR-HE Ineligible for Modification |
| 140 | Red flag possible fraud alert. This only appears on the Letters & Actions screen and on the Action Needed Report (FPSRP025). If you want a message to appear on the teller system or to stop transaction, you should use the Special Instructions feature. |
| 141 | FHLMC EDR-38—Appeal of Loan Modification |
| 142 | FHLMC EDR-35—Bankruptcy Cramdown Schedule |
| 150 | P/I Payment gets interest only until the date specified in the corresponding action date field. Payment method 7 only. The loan Bill and Receipt (FPSRP294) will bill interest only. (See the Loan Reports manual for information on FPSRP294.) |
| 151 | Loan sale effective - paid-to-date—see Sell to Loan Investor |
| 152 | Loan sale effective - due date—see Sell to Loan Investor |
| 155 | Inactive status on FHLMC report. (Entered automatically when hold code 7 is entered, not automatically removed.) |
| 156 | FHLMC EDR-24 Government Seizure |
| 158 | FHLMC EDR-32 Military Indulgence |
| 159 | FHLMC EDR-33 Contested Foreclosure |
| 160 | FHLMC 40 = Inactive loan - start foreclosure procedures |
| 161 | FHLMC 50 = Reinstate loan |
| 162 | FHLMC 60 - Payoff mortgage matured - not just FHLMC loans |
| 163 | FHLMC 61 - Payoff mortgage prepaid - not just FHLMC loans |
| 164 | FHLMC 65 - Payoff mortgage repurchased - not just FHLMC loans |
| 165 | FHLMC 66 - Payoff mortgage converted from adjustable rate to fixed rate |
| 166 | FHLMC 70 - Transfer to REO |
| 167 | FHLMC 71 - Third party sale foreclosure |
| 168 | FHLMC 72 - FHA/VA foreclosure - no cash |
| 169 | FHLMC 73 - FHA/VA foreclosure - sale cash |
| 170 | Used in reporting new loans on the FHLMC loan level report. The date used comes from the Alternate Date on the Loans > Investor Reporting > Sell Loan To Investor screen (overrides Date of Sale on the group record). |
| 171 | FHLMC EDR-61 Second Lien Considerations |
| 172 | FHLMC EDR-68 Date 1st Legal Action |
| 173 | FHLMC EDR-AW Date 1st Right Party Contact |
| 174 | FHLMC EDR-AX Date of Last Right Party Contact |
| 176 | FHLMC EDR-AY Date Advised Property Listed for Sale |
| 177 | FHLMC EDR-12 Date Servicer Entered into a Repayment plan |
| 183 | Garnishment funds expected |
| 187 | Call Rpt-Conv from Revolv to Non-Revolv: When a revolving line of credit has converted into a term loan and this action code is selected, the system will retain the amount in 1.c.1 and in Memoranda line 16. The Action Code Date entered must be on or before the date of the report. |
| 194 | Credit Bureau date of occurrence: Action code 194 is the earliest due date that a delinquency began. It is used in determining the FCRA Date of First Delinquency. FPS GOLD will take this date, if available, and add 30 days to determine the Date of First Delinquency for the account, when applicable. This code is automatically updated by the system and entered during afterhours processing. Also see action code 94. |
Action code 194 is also used to determine the date the loan was last current on the regulatory-required Delinquency Notice (FPSRP317). It is used in the history of payments section. The history section is payment activity for the previous six months or the period since the last time the account was current, whichever is shorter.
FPS GOLD Only: Afterhours Update Function 73 updates this field the night before the next due date if a payment is still owing. Example: If a loan is due on June 12, 2018, on July 11, 2018, this action code will be updated with the June 12, 2018 date. If the loan is brought current, this update function will also remove the action code.
| 195 | No line-of-credit auto-repayments before date. This action code will stop line-of-credit auto-repayments from processing when the action code date is greater than the run date. The line-of-credit auto-repayment codes are set up on the Loans > Account Information > Line-of-Credit > Consumer Line-of-Credit screen, Options tab. This action code is similar to action code 72, except 72 is only for ACH auto-repays set up on the Loans > Account Information > Billing & Coupons screen, Billing & Coupons tab. This code is only for line-of-credit accounts. |
| 200 | Verify insurance policy |
| 202 | Verify insurance and title policy |
| 203 | Verify record document |
| 204 | Insurance policy expires |
| 205 | Relocation grace period expires |
| 206 | Verify recorded assignment |
| 207 | DMV (Dept. of Motor Vehicles) title |
| 208 | Pending Misc Item(s) (see file) |
| 210 | Delinquency letter appointment date. (Events 23 and 24 only; the event letter mnemonic is evacdt.) |
| 211 | Delinquency letter time: entered in corresponding action date field as 01-HH-MM, where HH = hours and MM = minutes, used in event 23 & 24 only; the event letter mnemonic is evtime). |
| 212 | Date of last check - entered as MM-DD-YY, used in event 23 & 24 only; the event letter mnemonic is evact1). |
| 218 | Annual property inspection and financials due |
| 219 | Annual property inspection due |
* Note: These codes also affect the Loan Warning Report (FPSRP083) if the next rate change date is further in the future than the rate change frequency (two-step type loans). Refer to the description of warning code 45 in the Loan Warning Report in the Reports manual, or the Rate Change Frequency help on the Loans > Account Information > ARM Information screen
Action Code 40 Descriptions
This code prevents a rate from rolling until the night of the date you enter into the Action Date field. Note: Action code 40 and the action code date will automatically be deleted the night after that date. Example: Action code 40 with action date 12-03 will be deleted the night of 12-04. Also, if you enter a 40 with a date in the past, the code and date will be deleted the night they were entered. Example: On 1-5, you enter a 40 with an action date 12-10. The 40 and date will drop the night of 1-5. Update function 68 must be set to daily before the function will work.
Action Code 41 Description
This action code forces the loan rate to roll on the night of the action code date, to the current index plus margin. This rate is not rounded or capped, and upper/lower limits are not used. The accrued interest will be calculated up to the action date and the Date Last Accrued field will also be changed to the action date. Action code 41 and the action code date will automatically be deleted the night after that date. Example: Action code 41 with an action date of 12-03 will be deleted the night of 12-04. Also, if you enter "41" with a date in the past, the code and date will be deleted the night they were entered. Example: On 1-5, you enter "41" with an action date 12-10. The 41 and date will be dropped the night of 1-5. Update function 68 must be set to daily before the function will work.
WARNING: The date entered in this field must be a processing day (not a holiday, Sunday, or Saturday if your institution does not process on Saturdays).
See also the description for action code 75 below.
Action Code 75 Description
This action code is for rate-sensitive payment method 5 or 6 loans. It forces the loan rate to roll on the night of the action code date to the current index plus margin, after first checking the Prime Lower Limit and Prime Upper Limit fields on the Account Detail screen, Interest Detail tab. This rate is not rounded. The accrued interest will be calculated up to the action date and the Date Last Accrued field will also be changed to the action date. Action code 75 and the action code date will automatically be deleted the night after that date. Example: Action code 75 with an action date of 12-03 will be deleted the night of 12-04. Also, if you enter "75" with a date in the past, the code and date will be deleted the night they were entered. Example: On 1-5, you enter "75" with an action date 12-10. The 75 and date will be dropped the night of 1-5. Update function 68 must be set to daily before the function will work.
WARNING: The date entered in this field must be a processing day (not a holiday, Sunday, or Saturday if your institution does not process on Saturdays).
See also the description for action code 41 above.
FPS GOLD Only for Action Codes 40, 41, and 75
Update functions 83 (Scheduled Loc Rate Changes for Pmt Mthd 5, 9 and 10) and 38 (Perform Floating Rate Rolls) control floating rate rolls on rate sensitive loans. Function 83 is for line-of-credit loans (payment methods 5, 9, and10); function 38 is for all loans that do floating rate rolls. They are both typically set to “daily.” If a loan has action code 40, 41, or 75, rate changes will either be restricted until the action date or forced on the action date. This allows a typically rate-sensitive loan to have a scheduled rate change. Institutions should contact your FPS GOLD client services to confirm these update functions are turned on before using these action codes 40, 41, or 75.
Action Code 109 Description
Action code 109 allows the institution to manually order a duplicate bill and receipt statement for payment method 5 loans. It does not recalculate any data. This is designed to recreate a statement if the normal statement was lost or destroyed, etc. The new statement can be a duplicate of the last statement created. However, it will allow you to file maintain fields and create a new statement using that data. The statement will be created on the date set by the action code. The system will create the statement as of the Date Last Finance Charge. The loan must have a bill code of "10." If any transaction has occurred on the loan since the last statement was created, an error message will be printed on the statement and the statement data may be invalid. The message, "There has been activity on this account since last billing ***Statement data could possibly be invalid***" will appear on the statement.
Action Dates
The action codes are entered in the Action Code field in each column. Enter in the corresponding Action Date field the date on which you want the action to take place. Dates are entered in MMDDYY format.
