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SIMG_CFMENUFNMCFNCH - Define Terms

SIMG_CFMENUFNMCFNCH - Define Terms

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In this IMG activity you define the terms (or maturities) of your loans. You can use the term to aggregate your loans for evaluation purposes.

The system determines the term differently for each contract, depending on the underlying product category:

  • Mortgage Loan (300)
  • Borrower's Note Loan (310)
  • Policy Loan (320)
  • General Loan (330)
For contracts based on these product categories, when you enter the contract in the system select the term which applies to the term in the contract.
  • Consumer Loan (340)*
For contracts based on this product category, do not specify a term when you enter the contract in the system. The system determines the term by calculating the term of the contract and comparing this with your entries in the Months(Minimum) column.

* This product category is only available if you are using the functions for Consumer Loans.

Term Short text Description Months (Minimum)
01 Term < 3 years Term less than 3 years 1
02 Term 3 - 5 years Term between 3 and 5 years 36
03 Term > 5 years Term greater than 5 years 60

Term greater than 5 years






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