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#608946 - 09/05/06 02:27 PM Report for monitoring early loan payoffs
CindyS Offline
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Joined: Sep 2005
Posts: 133
Illinois
I posted this previously under the BSA forum, but didn't receive much response. I'm hoping someone from the IT world will have some input:
Regarding the BSA guidance that calls for monitoring of early loan payoffs for suspicious activity, I've been unsuccessful in getting our IT dept to create a useful report on early payoffs. I'd appreciate if anyone could share the specs/paramaters they are using for such a report. We happen to be an ITI/Fiserv bank, but regardless what vendor you use, any information would be helpful. Thank you.

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eBanking / Technology
#608947 - 09/05/06 05:04 PM Re: Report for monitoring early loan payoffs
KrisH Offline
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KrisH
Joined: Mar 2003
Posts: 358
Massachusetts
I'm not sure what information you would want on such a report - are you just looking to identify accounts that were early payoffs vs. normal payoffs? If so, ITI already has a system report called "Paid Notes Audit" that is generated daily (if you have the report turned on), which includes the payoff date and amount, as well as the original maturity date. There is some other detail there as well, but I assume that is the data you're looking to capture?
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#608948 - 09/21/06 06:18 PM Re: Report for monitoring early loan payoffs
Dave M_TCA Online
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Dave M_TCA
Joined: Oct 2000
Posts: 686
Wherever my most benevolent em...
If you have Prime/Impromptu/ViewPoint, you can set this up yourself.

Something the FDIC suggested, I set up a report to look for cash secured loans that paid off less than 120 days from opening.
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David J Mulkerin, CRCM
All opinions expressed are mine and not those of my employer and are not to be taken as legal advice.

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