A.1 Monetary Transactions
This section catalogs the transaction codes and parameters required to complete the following monetary tasks for Lease:
- Apply, adjust, or waive servicing expenses
- Adjust or waive late charges
- Adjust or waive non-sufficient funds
- Apply, adjust, or waive repossession expenses
- Apply, adjust, or waive bankruptcy expenses
- Apply or adjust phone pay fees
- Apply, adjust, or cancel financed insurance
- Change an index/margin rate
- Generate a payoff quote
- Payoff an account
- Charge-off an account/Do Not Charge-Off an account
- Close an account
- Adjust, charge-off, or waive the advance/principal balance
- Adjust the interest balance
- Stop interest accrual
- Indicate a borrower as ON or OFF active military duty
- Change Due Date of an account
- Refunding the payment
- Apply, adjust, or waive an extension fee
- Adjust or waive a prepayment penalty
- Adjust or waive an escrow payment
- Reschedule an escrow payment
- Adjust or waive a payoff quote fee
- Place an account in a nonperforming condition
- Reverse a nonperforming condition
- Reschedule precomputed Lease to interest bearing Lease
- Account Settlement Transaction
- Trading of Accounts - Monetary Transactions
- Billing Cycle Change
- Capitalization Maintenance
- Cycle Based Late Fee Adjustment / Waiver
- Fee Consolidation Maintenance
- Accrual and First Payment Date Maintenance
- Change profit rate
- Non Refund GL
- ACH Fee Maintenance
- Change Lease Payment Amount
- Lease Extension
- Change Lease Term
- Lease Security Deposit Adjustment
- Lease Fee Usage Adjustments
- Evergreen Lease Transaction
- Lease Rental/Damage Fee Adjustments
Note:
- While posting any monetary transaction that results in increase of account maturity date, system auto validates if the same is within the 'Customer Credit Limit Expiry date' of any one or all of the customer(s)/business who contributed for funding the Account. In case it is greater, system displays an error indicating that the resulting Maturity date is greater than 'Customer Credit Limit Expiry date' and does not allow to post the transaction.
- OFSLL does not allow to post any monetary transaction on/or prior to the status change date. However, in case if the ACH gets the payment return file with NSF (no-sufficient funds) payment status - where the account status is PAID OFF, system automatically reverses the PAID OFF status and posts the NSF transaction on account.
- Servicing Expenses
- Late Charges
- Non-sufficient Fund Fees
- Repossession Expenses
- Bankruptcy Expenses
- Phone Pay Fees
- Financed Insurances
- Index/Margin Rates
- Payoff Quotes
- Account Paidoff
- Account Charge Off
- Account Closure
- Advance (Principal) Balance
- Interest
- Interest Accrual
- Active Military Duty (For Lease)
- Due Date Change
- Payment Refund Transaction
- Prepayment Penalty
- Escrow Payment
- Escrow balance refund
- Pay Off Quote Fee
- Nonperforming Accounts
- Convert a Precomputed (PC) Lease into a Simple Interest (SI) Lease
- Account Settlement Transaction
- Change Lease Payment Amount
- Lease Extension
- Change Lease Term
- Lease Security Deposit Adjustment
- Lease Fee Usage Adjustments
- Evergreen Lease Transaction
- Lease Rental/Damage Fee Adjustments
- Trading of Accounts - Monetary Transactions
- Billing Cycle Change
- Capitalization Maintenance
- Cycle Based Late Fee Adjustment / Waiver
- Fee Consolidation Maintenance
- Accrual and First Payment Date Maintenance
Parent topic: Appendix : Transaction Parameters