Configuring Loan Classification Codes (2)

SEE ALSO: Configuring Tools for Collections

On this second screen, enter a complete description of the Classification Code. Use the final field to enter a percentage to be used in calculating loan loss reserve amounts for loans flagged with this classification code.

For example:

 Loan Account: 12365-780

 Current Balance: $10,000

 Classification Code Reserve %: 25%

 Amount Calculated as the Reserve: $2,500

If no reserve is needed for loans with this code (such as a code used to report loans with documentation problems for auditors), leave the percentage field blank. When done, use Enter to record the change and return to the previous screen.

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