Note Type General Information

The following table provides information regarding how the various data elements of the Note Types record are used within the CLM system.

Field Name

Purpose/Usage

General Information Section

Lender Name

Information value.

Loan Name

Identification/informational value.

Sub Name

Identification/informational value.

Vintage

Identification/informational value.

Display Name

Identification/informational value.

FAO Loan Name

This value will be used to match an Origination record to the corresponding Note Type record. If the Origination record does not match to a Note Type record, it will be rejected.

Priority

This is used to indicate the relative priority loans of this type have with regards to other loans in the borrower's portfolio, in terms of payment application. The smaller the number, the greater the priority. For example, assume a borrower has two loans: Loan A (with a priority of 1), and Loan B (with a priority of 2). A borrower payment will always be applied to Loan A first, due to its priority value.

Loan Type

Used primarily for editing and identification purposes.

Status on Origination

This value will determine what status loans of this type will be placed in when they are (successfully) originated. See Loan Status Codes for more information.

Bill While Enrolled Flag

Informational value.

Grace Months

The number of months before a loan enters repayment once it has been exited. Used in setting up the payment plan.

Benefit Extension Months

Use in Benefit processing. The number of months the base benefit period can be extended for loans of this Note Type.

Maximum Repayment Months

Used when calculating the payment schedule for a loan during origination.

Origination Method, Fee, Percentage

These values are used to populate the loan record, and are only informational value.

Comments

Informational value.

Entrance (Interview) Required Flag

Informational value.

Exit (Interview) Required Flag

The value of this flag is used during the origination process for loans of this Note Type. If the value is "Y", the loan must be exited before it can be placed into repayment.

Benefit Values Section

Deferment Options

Used in Benefits processing. The values selected here will indicate the deferments that can be applied to loans of this Note Type.

Postponement Options

Used in Benefits processing. The values selected here will indicate the deferments that can be applied to loans of this Note Type.

Cancellation Options

Used in Benefits processing. The values selected here will indicate the deferments that can be applied to loans of this Note Type.

Payment Options Section

Payment Application Priorities 1 through 7

These values will be used in Payment Processing. A loan payment will be applied to the components of the total amount due in the specified order, until either all monies are exhausted,or the due amount is paid in full.

Ledger Accounts

This is the ledger account that will be posted to whenever an amount is collected for each of the corresponding payment application priority categories. This value is read-only.

Regular Principal Amount

This value is used to populate the Payment Plan screen for an originated loan. It reflects that portion of the scheduled payment that goes towards the principal balance of the loan.

Payment Method, Frequency, Terms

These values are used to populate the Payment Plan screen for an originated loan.

Interest Method, Frequency, Amount, Percentage

These values are used to populate the Payment Plan screen for an originated loan.

Late Charge Delay

The number of days from the payment due date that a payment would still be considered on time and not be assessed a late fee. For example if the payment due date is 7/15 and the ldelay is set to 10 then the payment would still be considered on time if received by 7/25 and would be not be assessed late charges.

Interest Adjustment Frequency

This value is used to set the value of the Interest "OK Through" date on the Payment Plan screen for an originated loan.

Late Charge Method, Frequency, Amount, Percentage

These values are used to populate the Payment Plan screen for an originated loan.

Collection Cost Method, Frequency, Amount, Percentage

These values are used to populate the Payment Plan screen for an originated loan.

Field Name	Purpose/Usage
General Information Section
Lender Name	Information value.
Loan Name	Identification/informational value.
Sub Name	Identification/informational value.
Vintage	Identification/informational value.
Display Name	Identification/informational value.
FAO Loan Name	This value will be used to match an Origination record to the corresponding Note Type record. If the Origination record does not match to a Note Type record, it will be rejected.
Priority	This is used to indicate the relative priority loans of this type have with regards to other loans in the borrower's portfolio, in terms of payment application. The smaller the number, the greater the priority. For example, assume a borrower has two loans: Loan A (with a priority of 1), and Loan B (with a priority of 2). A borrower payment will always be applied to Loan A first, due to its priority value.
Loan Type	Used primarily for editing and identification purposes.
Status on Origination	This value will determine what status loans of this type will be placed in when they are (successfully) originated. See Loan Status Codes for more information.
Bill While Enrolled Flag	Informational value.
Grace Months	The number of months before a loan enters repayment once it has been exited. Used in setting up the payment plan.
Benefit Extension Months	Use in Benefit processing. The number of months the base benefit period can be extended for loans of this Note Type.
Maximum Repayment Months	Used when calculating the payment schedule for a loan during origination.
Origination Method, Fee, Percentage	These values are used to populate the loan record, and are only informational value.
Comments	Informational value.
Entrance (Interview) Required Flag	Informational value.
Exit (Interview) Required Flag	The value of this flag is used during the origination process for loans of this Note Type. If the value is "Y", the loan must be exited before it can be placed into repayment.
Benefit Values Section
Deferment Options	Used in Benefits processing. The values selected here will indicate the deferments that can be applied to loans of this Note Type.
Postponement Options	Used in Benefits processing. The values selected here will indicate the deferments that can be applied to loans of this Note Type.
Cancellation Options	Used in Benefits processing. The values selected here will indicate the deferments that can be applied to loans of this Note Type.
Payment Options Section
Payment Application Priorities 1 through 7	These values will be used in Payment Processing. A loan payment will be applied to the components of the total amount due in the specified order, until either all monies are exhausted,or the due amount is paid in full.
Ledger Accounts	This is the ledger account that will be posted to whenever an amount is collected for each of the corresponding payment application priority categories. This value is read-only.
Regular Principal Amount	This value is used to populate the Payment Plan screen for an originated loan. It reflects that portion of the scheduled payment that goes towards the principal balance of the loan.
Payment Method, Frequency, Terms	These values are used to populate the Payment Plan screen for an originated loan.
Interest Method, Frequency, Amount, Percentage	These values are used to populate the Payment Plan screen for an originated loan.
Late Charge Delay	The number of days from the payment due date that a payment would still be considered on time and not be assessed a late fee. For example if the payment due date is 7/15 and the ldelay is set to 10 then the payment would still be considered on time if received by 7/25 and would be not be assessed late charges.
Interest Adjustment Frequency	This value is used to set the value of the Interest "OK Through" date on the Payment Plan screen for an originated loan.
Late Charge Method, Frequency, Amount, Percentage	These values are used to populate the Payment Plan screen for an originated loan.
Collection Cost Method, Frequency, Amount, Percentage	These values are used to populate the Payment Plan screen for an originated loan.