Account Delinquency screen > Delinquent Payments tab > Common Loan Information Field Group

Entry: System, date

F/M: No

Mnemonic: LNMATD

Screen: Multiple

Field Group: Common Loan Information

This field contains in MMDDYYYY the date for when the last payment is due and when the loan should be paid off. All loans must have a maturity date, except payment methods 5, 8, 9 or 10, or the payment cannot be posted.

An option (CLZB) is available which will automatically close zero balance payment method 5 loans. At the time the loan is closed, the payoff date is also updated. The "close" transaction is a file maintenance tran code 22 to field 999. At the same time, the system will update the payoff date. The loan will automatically close on the night of the maturity date. If the maturity date is on a weekend or holiday, the loan will close on the night of the first business day following the maturity date.

Note: If the maturity date is in the past and the account is open, the date will appear in red.

Monetary balances that must be zero are: principal balance, reserve balance, partial payments, miscellaneous funds, late charges, loan fees, accrued interest, accrued interest on reserves, and accrued interest on negative reserves. In addition, the loan cannot have an LIP method code greater than zero.

For loan advances (tran code 500 field debit), if a loan is past the maturity date, a principal advance (increase) will not be allowed. The error message "LOAN PAST MATURITY, ADVANCES NOT ALLOWED" will be displayed in the Teller System. If there is no maturity date, advances will continue to process. This action occurs for all payment methods.

An option, OP02 APML, allows a principal increase to be processed if a loan is past the maturity date. It requires a supervisor override (SOV).

An option, OP02 APCO, allows a loan payment (transaction code 600/608) or an optional loan payment (transaction code 690/698) to be processed if a loan has been charged off (hold code 2).