Loan Setup for Trust Accounting
Of the many global Loan Setup codes and parameters in the Nortridge Loan System (Portfolios, Classes, Groups, Status Codes, Transaction Codes, base rates, etc.) two need special consideration with regard to trust accounting. These are Loan Groups and Transaction Codes.
Loan Groups: A special tab related specifically to Trust Accounting has been added to the loan group setup. This controls the Loan Group Servicing Options.
Transaction Codes: Seven new standard transaction codes have been added to the system to control the placement of money into and out of trust and to control Servicing Fees for trust accounting.