Just curious how others chose their action take date...We've always used the date of the note but having not submitted CRA data I wasn't sure how you would handle loans with a note date of December 07 but not actually booked on your system until Jan 08... Should we be going by the date booked or backdated to?
Thanks in advance for your response!
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Take responsibility for your life.
So, if at year end we have a note dated 12.28.07 but it isn't booked until 01.03.08, I'll just throw it on the 07 register, correct? Funny how it's the little things that get your hamsters turning Thanks for your help, MB Guy!!
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Take responsibility for your life.
That is what we do. We always wait until the end of Jan / first of Feb and run a report to make sure we didn't miss any loans that are back dated. It seems to be a habit of our ag lenders to backdate a lot of loans. grrrrrr.
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Life is not the way it's supposed to be. It's the way it is. The way you cope with it is what makes the difference.
Well keep your eyes open. You will be surprised by all the stuff you will see. That is why we still run a report each quarter and at the end of the year to check to see if we got every loan on. Gotta catch those back dated loans and those where the coding was changed to CRA and no one bothered to tell us. Another big grrrrrr.
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Life is not the way it's supposed to be. It's the way it is. The way you cope with it is what makes the difference.
One advantage is that we don't really have a ton of entries...I review every loan booked and verify them to a monthly new note audit so I know month to month that I've looked at everything. I shudder to think about having to pull based on system codes or relying on our silly LO's to make the right determinations!!
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Take responsibility for your life.
You might also have a discussion with your loan department to make sure they understand you are using the note date. Some lenders might be sitting on a renewal they want to back date even in early March. I know stupid, but with lenders anything is possible.
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Bubs-
"truth does not occur in the database" - Actual search result on a goverment website
You might also have a discussion with your loan department to make sure they understand you are using the note date. Some lenders might be sitting on a renewal they want to back date even in early March. I know stupid, but with lenders anything is possible.
Bubs - have you been hanging out at our rural branches??? This is their favorite thing to do.
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Life is not the way it's supposed to be. It's the way it is. The way you cope with it is what makes the difference.
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