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1.
What items comprise the totals displayed and reported as YTD Fees for loan products on statements?
YTD Fees for loans on a statement come from file LNFEES. That file is updated as part of EOD for the sole purpose of printing of YTD and Period Fees totals on statements as per Reg Z. The LNFEES file has a bucket for each month for totaling all fees; it also has a YTD Fees bucket. For credit cards, Reg. Z fees are split out on the statement at the time the statement is created. Fee transactions are identified based on the criteria outlined below, and the YTD Fees and YTD Interest totals are c More...
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2.
What does the "Delq Fine in Partial Pay" flag in the loan product configuration govern in relation to delinquent fines?
This flag governs the amount of payment required to advance the due date one frequency. If a CU sets this flag to Yes, only the scheduled payment is necessary to advance the due date. If a CU sets this flag to No, the scheduled payment and the amount of the fine will be necessary to advance the next due date one frequency.
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3.
Are there any restrictions on the Certificate Types, Dividend Types, or Loan Products that can be used with CD or Share Secured Loans?
Certificate types or Dividend Applications that are Health Savings Accounts (HSAs) or IRAs cannot be set up as CD/Share Secured loans. Escrow accounts cannot be set up as Share Secured Loans. Only Installment closed-end loans can be selected when configuring CD Secured, Share Draft Secured, or Savings Secured Loans. Mortgages and open-end loans cannot be selected.
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4.
Can we have different sets of criteria for CLR Path? Can we have multiple criteria for a loan product?
Yes and no. There is no limit to the number of program templates you can build to hold your decision parameters, but only one CLR Path program template can be attached to a loan product at any time.
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5.
Can I have CU*BASE default the applicable delinquent fine code into that field when I am building a new loan request?
Yes. There is an Amortization Default option available in each of your Loan Product Code configurations which allows credit unions to default amortization criteria such as: Delinquency Fine Code, Rate, Payment Frequency, # of Payments etc. The system will then default this value into the applicable fields when creating a new loan request. These defaults are intended to provide consistency for all new loan requests, but can be changed/edited during the loan request process if necessary.
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6.
Do the Deposit Secured loan products require that joint owners sign documents? Does it evaluate loans against community or marital property laws?
No. Secured loans do not look to joint owners, community property, or marital property laws. The loan documents will not require, ask for, or accept a second signature. Your credit union may wish to review your Member/Loan Documentation to ensure they are still in compliance with the product. You may decide to use a unique certificate type for CD Secured loan products or a unique dividend application for your Share or Share Draft Secured loan products.
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7.
How can I view basic statistics of my loan applications, such as denied, approved, pending, and deleted?
CU*BASE has a tool that displays application statistics in a handy dashboard format. Tool #472 Loan Queue Activity Tracking allows you to choose a date range and branch to filter the information, with additional filters such as Underwriter Code, Delivery Channel, Interviewer ID, Loan Category, Product Code, Dealer #, and Business Unit, if you wish. You can also use this dashboard to analyze the data you've selected in your filters, as well as export to a PDF or Excel format. This dashboard c More...
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8.
Is it possible to have special business savings, certificate, and loan products displayed in "BizLink 247" business online banking, but not displayed to members in "It's Me 247" online banking?
Yes! Starting with the 23.05 release, CU*BASE lets you configure your online banking rate boards for savings, certificate, and loan products, so that products are shown only in BizLink 247 business online banking, or in It’s Me 247 online banking, or both. When setting up a product to appear in online banking (via Tool #506 Member Rate Maintenance for savings or certificate products, and via Tool #470 Loan Product Configuration for loan products), you’ll see checkboxes to activate More...
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9.
On our loan credit insurance and/or debt protection posting reports, we see exception descriptions that are abbreviated. What are their meanings and did the premiums/fees post or were they rejected?
These message indicators appear on the CU*BASE loan insurance premium posting report (TCUNAS2 / TCUNAS3) and the Debt Protection Fee posting/exception reports (TCUNAD2 / TCUNAD3). By looking at the reports, you can tell if a premium / DP fee posted or not based on the exception. LOAN INSURANCE MESSAGES ADD SIGN There is joint coverage on this loan. There is either no 'additional signer' record, or the birth date for the additional signer is missing or invalid. JT TO SG There is joint cov More...
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10.
How do I set up a loan so that the payment is due on the last day of the month, and automatically changes according to the number of days in each month?
When setting up the loan request, enter a First payment date that is the appropriate month-end date. For example, if creating a loan request on August 25, you would specify that the first payment is due on September 30. Then enter a 31 into the Payment day field. This will trigger the system always to use the last day of any given month going forward (31, or 30, or 28 or 29 for February). To adjust this on new loan requests going forward, set the Day of first payment as 31 using Tool #470 Loa More...
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11.
Can we pull credit reports for member service products such as debit cards, checking accounts, membership requests?
Yes. You can pull a credit report for any service using the online credit bureau process. Using Tool #53 Process Member Applications, use action code CR to pull the report without creating a loan request and application. We can then create Member Services denial notices for debit cards, checking accounts, ATM cards, etc.
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12.
Can I stop a particular member from being able to request a Flex Loan modification via online banking?
Flex Loans allows members in It’s Me 247 to request a change in the term of their loan, which results in a payment change. This is permitted on configured products with monthly payment frequencies. The loan modification request can be immediate if the member is qualified and your credit union activates auto approvals. Otherwise, the member’s request is sent to the LOS loan queue ( Tool #2 Work/View Loan Application Status ) to be approved or denied by your loan officer. First, it More...
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13.
How do I update my loan products and the risk-based pricing for them?
Refer to the CU*BASE help topics below for assistance with updating loan products and the risk-based pricing for them.
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14.
How do I associate different indirect products (for new, used and auto) with a selected range of collateral years? How do I update my model years in my indirect delivery channels?
To associate different indirect products (for new, used and auto) with a selected range of collateral years or to update model years in my indirect delivery channels, access the Configure Loan App Delivery Channels (5) screen via Tool 462: Loan Delivery Channel Configuration , and select your delivery channel. Then use Enter and select the collateral type to update or add to. Highlight the year to change it or use Add to add additional years. On the next screen enter the collateral year range. More...
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15.
I have activated the Flex Loans feature. When my member adjusts their term online, they are not seeing all available terms as expected. Why could this be the case?
Flex Loans allows members in It’s Me 247 to request a change in the term of their loan which results in a payment change. This is permitted on configured products with monthly payment frequencies. The loan modification request can be immediate if the member is qualified and your credit union activates auto approvals. Otherwise, the member’s request is sent to the LOS loan queue ( Tool #2 Work/View Loan Application Status ) to be approved or denied by your loan officer. While using More...
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16.
What products does eDOC Innovations offer?
eDOC Innovations offers a full suite of e-document solutions. This includes paperless receipts, loan forms, reports and statements as well as eSign and Check 21 solutions. Together with CU*Answers they offer three different integrated document storage or vault models. For more information about eDOC Innovations and how they can automate your document workflow, contact John Beauchamp at jbeauchamp@edoclogic.com or phone 800 425- 7766 extension 228. edi edoc edocs
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17.
Are Flex Loans designed for members who are more than one month delinquent?
Flex Loans allows members in It’s Me 247 to request a change in the term of their loan which results in a payment change. This is permitted on configured products with monthly payment frequencies. The loan modification request can be immediate if the member is qualified and your credit union activates auto approvals. Otherwise, the member’s request is sent to the LOS loan queue ( Tool #2 Work/View Loan Application Status ) to be approved or denied by your loan officer. Flex Lo More...
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18.
Is it possible to configure a product code and a general ledger balance in the same auto-pop routine for the 5300 Call Report?
Yes. For example, you could use G/L automation routine to gather a G/L account total(s) plus use a purpose code routine to gather a total of certain loan accounts, and the sum of both would be used for the account code on the 5300 report.
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19.
The FACT Act requires we notify members when a credit score was used to determine eligibility for a mortgage loan. How can I use CU*BASE tools to comply with this requirement?
Option 1: Create a Misc. Member Account Form with the appropriate text, and add a procedure for your loan processors to print this form whenever a loan like this is created. Since the CU*BASE online credit bureau system has no way to know if a credit score is used in the underwriting decision, nor whether the credit report was used for a mortgage or home equity loan, this will be manual process. HINT: This step could be added to the Electronic Checklist feature for your mortgage and home equity More...
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20.
What criteria does the system use to determine which loans appear on the special mortgage statements?
Mortgage statements can be generated only for loans with Process Type M, excluding commercial loans (Master type MO). There is an activation flag in statement configuration that lets you choose whether to generate mortgage statements for ALL Process Type M mortgages, or only for certain loan categories. If the latter option is selected, there will be a flag in Tool #458 Loan Category Configuration that designates which products will receive the new statements. (NOTE: This field will be visib More...
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21.
When a loan is written off, will the payment matrix automatically change so that if payments are made, the amount will be applied to principal first?
The payment matrix will follow the configuration in the write-off product type(s). Learn more in the Write-off/Charge-off Tools booklet which is linked below.
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22.
Can a member do a mobile deposit to a loan suffix, or just share suffix?
Your credit union actually gets to decide which types of accounts can receive direct RDC deposits, including both savings/checking accounts and loans. For loans: Launch Tool #458 Loan Category Configuration , select the category, then select Audio/PC Bank . The last option listed is to allow payments via RDC. For savings/checking products: Launch Tool #777 Savings/Checking Products Configuration , select the DIVAPL, then choose ARU/Online Banking . The last option listed is to allow deposi More...
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23.
When I create my budget in CU*BASE using the asset/liability modeling tools, is there a special technique I have to use to keep assets equal to liabilities and equity on my balance sheet? For example, if I project $10 million in growth of loans and $10.5 million growth of shares, the $500K difference has to go somewhere so the total assets and liabilities are in balance. In the past I’ve used budgeting software that has a balancing account that acts as either a cash account or a borrowing account, depending on where it is needed, to keep assets equal to liabilities and equity.
The CU*BASE Budget tools are not intended to project your entire balance sheet. While some software products do that, that was never our intent. Our purpose in modeling select assets and liabilities is to create a projection to be used to calculate the income and expense for the budget. It results in a few simple things: You can create reports to present how you see member balances growing in the future. You can create reports to present the actual member balance in comparison to your project More...
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24.
Why can't everything in CU*Talk be read in Spanish?
There are four ways that information is communicated to the caller in CU*Talk: Static Audio Prompts/Custom Prompts – these are the CU-defined welcome messages, hours and locations. (NO SPANISH OPTION CURRENTLY.) Text to Speech – a custom option for the credit union in which information is grabbed from CU*BASE and communicated via a text to speech program in CU*Talk. This can include the welcome message, hours and locations, and rate descriptions and their corresponding rates. (NO SPA More...
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25.
I recently updated my rate in my loan category (for example updated the prime interest rate), and it is not reflected in the rate that is shown online on my rate board in "It’s Me 247". What should I check first?
Online banking rates don’t automatically update based on changes to loan categories. In order for the rate to be reflected in online banking, you must also update the rate in the Online banking option of Tool #470 Loan Product Configuration . To do this, select to Change the product shown on your rate board and select the Online banking option. While the rate on this screen will reflect the change to the loan category, in order for it to be shown in online banking, you must save this scre More...
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