Navigation:  General Reporting Information > Conversions and Acquisitions

Reporting a loan that has been acquired or accounts that have newly been converted onto the FPS GOLD system is accomplished in two steps. Both steps require the use of the Transferred or Converted or Purchased date fields on the Account Detail screen, Origination tab.

 

The Credit Reporting screen, Reporting Codes & Subscriber Numbers tab has a field for the Old Account Number and a place for the name of the Original Creditor Name.

 

The account number that was previously used in credit reporting should be in the Old Account Number field. The institution name or the name of the original credit grantor should be entered in the Original Creditor Name field. The first time the credit reporting record is created, the old account number will be pulled from LNOLD#. (The old account number (LNOLD#) is a field which is used at conversion or acquisition time. It is not displayed on any screen; but once the new credit reporting record (screen) is created, it will be pulled into this field.)

 

•If the Originated field (LNORGN) on the Account Detail screen, Origination tab, is selected, at monthend, your institution name is entered in the Original Creditor Name field the first time the credit reporting record is created.

 

•If the Purchased field is selected (on the Account Detail screen), you can enter the original creditor’s name in this field. (This would be used if you acquired the loan from another institution.)

 

In the Transferred or Converted field on the Account Detail screen, Origination tab, enter the date that the loan was set up on the FPS GOLD system. This date and the blank Credit Bureau status indicator (no credit reporting record has been created) will cause the system to report the old number as the account number and the FPS GOLD number as a number change.

 

For loans acquired and converted manually, you will enter the date converted. For loans converted by FPS GOLD, the system will enter the date. FPS GOLD orders coupons beginning with the date in the Transferred or Converted field.