Configuration/Functionality
True or False - For credit cards, Keystone posts fees and interest directly to the balance of the loan.
False - For Credit Card, Keystone stores interest to an interest unpaid bucket under the loan but fees are posted to the balance.
In the Batch Sequence called EOD, which batch program is out of place and why?
ML Monthly Purge should be removed. This program should not be ran daily. This program should be ran outside of the CU's EOM process, on a weekend, in the middle of the month, at night. This job requires extensive resources to run and it's best to run independently from any other major batch runs.
For 10001001 L0003, the loan type is Unsecured Loan. What Credit Reporting Portfolio Type is this loan going to report as?
M - Mortgage. This is indicated as an Credit Reporting Portfolio Type Override under the individual loan record. This field takes priority over what is in the Loan Type Portfolio Type setting.
True or False - Keystone Exceptions under the Conversion Report Summary should be review only by the Conversion Programmer because they are exceptions related to their coding efforts.
False - Keystone exceptions should be reviewed by the CS and the CP. These exceptions call out instances where data couldn't get converted because of configuration conflicts, missing mapping, coding issues, etc.
True or False - A Trustee on an account can be added as an Account Person Link or a Share Person Link. This will allow the trustee to have Transactional Rights and Viewing Rights.
False - Account Person Links are informational only. They do not provide transactional rights or viewing rights.
The payroll posting batch program can be ran in which two areas?
1. Batch Submit and File Maintenance
2. Batch Submit and Payroll Work Area
3. It can only be ran in the Batch Submit Work Area
2. Batch Submit and Payroll Work Area. To be able to run it in the Payroll Work Area, you will need to add the batch job in the Payroll Record.
The Credit Reporting ECOA code is determined by the ____________ Category when the ___________ runs.
Loan Person Link Category and Credit Reporting Batch Program
True or False - Conversion Defaults Share/Loan Report should be reviewed after your preliminary database has been delivered.
False - You would not have any Share/Loan Defaults created yet. This report should be reviewed after they've been built out and a conversion run has been completed. Likely DCC Conversion Run.
Under the Inactivity Fee Exceptions Report, Account 0000101350 S0000 was listed with an exception reason of "Share balance does not cover fee". Why didn't the system take it from the S0010 that has enough funds to cover this item?
Although the Share Type is listed as an Alternate Share under the fee record, the Fee Collection is set to Post if balance covers fee, else exception. If the CU wishes to collect from Alternate Shares, then they should select one of the options that includes alternate shares.
The CU reaches out to you to explain that they want their Escrow Department and their ACH Department to run certain batch jobs but they do not want them to be able to run every batch job. Explain how this functionality can be achieved.
The CU would have to create a Custom Security Event (set to Deny) for each batch job they would like to lock down. Once the event is created, they would add that Security Event to the batch job and provide the privilege (set to Grant) to any Roles they wish to allow the batch runs to be permitted.
Which Keystone field is used to report the Highest Balance on a line of credit loan?
A. Credit Limit/Approved Amount
B. Acquisition Balance
C. Original Balance
D. Highest Transaction History Balance since open date
C. Original Balance
Is this exception found on the Conv Review Report an issue:
654372 Share with courtesy pay option=Y with no courtesy pay limit
Why or why not?
It is not an issue if they plan to run a script to add in Courtesy Pay Limits at conversion. It may be beneficial to map them in in order to minimize the report that get generated when the script runs.
CU should still review this exception to ensure that the Courtesy Pay Option was set accurately.
Your CU's Loan Servicing department was attempting to make a $90,000.00 payment to 10002527 L0200. They reported back that the system was not letting them. No further details were provided. Why/What is causing this issue and how do you resolve it?
Invalid Interest Calculation Date. The Loan Type is setup with an Interest Calculation of Mortgage. When it's set with this option, the Interest Calculation Date should always be set to the previous month from current due date. In this case, it should be set to 02/01/2020.
The CU ran their Subsequent Analysis under 0000902902 L0200. They were expecting a Next Escrow Amount of 350.00 but instead the system showed a Next Escrow Amount of 962.50. They noticed most of the calculations are incorrect. What caused this?
The Escrow Disbursement Record for 4200.00 has a next posting date in the past (06/01/2021). This falls outside of the escrow analysis period which is causing the calculations to be incorrect.
Experian, TransUnion and Equifax rejected the credit reporting file. Their feedback was that the Program Identifier was missing in the file. In what position are they found in the file and how do you correct this issue?
These identifiers can be found under the Credit Reporting Cutoff Table under:
Header Record Equifax Program Identifier (Length = 10, Position 23-32)
Header Record Experian Program Identifier (Length = 5, Position 33-37)
Header Record TransUnion Program Identifier (Length = 10, Position 38-47)
These values must be populated for them to appear in the file.
Explain these exceptions found on the Conv Review Report and why are they an issue:
Account number matches draft lookup on different account
Account number matches ach lookup on different account
These exceptions are calling out instances where an ACH Lookup or a Draft Lookup are setup with matching formatting to another account number. This can cause posting issues for ACH Posting and/or Share Draft Posting.
Ex) Item comes in with DFI Account 123456.
ACH Lookup of 123456 is tied to Account Number 12345
There is a valid account with account number 123456
Because of this, all items coming in with a DFI Account Number = 123456 will be posted to 12345. Account Number 123456 may not get any ACH credits or debits posted.
Under Account 0019951991 L1001, the loan cycled on 12/31/2022. There was only one transaction the entire month of December. When the credit card cycled, the purchase bucket was populated for 5000.00 but there were no purchases. What happened and how can it be fixed?
The ATM Transaction for 5000.00 was coded with a subcategory of Purchase and it caused for that transaction to be treated as a purchase transaction rather than an advance. Mapping should be adjusted to set the subcategory correctly.
Explain the process for running Tax Reporting. Specifically looking for 3 records needed to be created, 2 batch jobs needed and steps to run the two jobs.
1. Create a IRS1220 File Record. Insert a IRS1220 Payer Record under the IRS1220 File Record that was created. Insert a IRS1220 Payer State Record under the IRS1220 Payer Record that was created.
2. Create a IRS File Maintenance with all of the settings of which filings the CU will report. Also create the IRS Reporting that will create the file that is sent to the IRS.
3. Insert IRS1220 Record in IRS File Maintenance batch job and run IRS File Maintenance. Review results using AdHoc Reports. If correct, send XML file to print vendor to print out/mail forms. CU may want to obtain proofs first. Once they are ready to generate IRS file, they will first close out the IRS1220 File by changing the status to 'Closed' and then add it to the IRS Reporting batch job. Once added, the job can be ran to produce the file that is sent to the IRS.
List 3 reasons why the Credit Reporting Account Type would be set to Do Not Report
Manually set at funding (business loans)
Loan is Closed
Was converted over as DNR because it was not found in the CU's Metro II File
Explain the following exception found on the Conv Review Report:
Account with redundant mail person address link, should be blank
Discuss how it relates to statement mailing address functionality in Keystone.
The exception is calling out instances where the account mail person address link does not need to be filled since it may be the only mailing address for the primary member. Keystone will first look for a share/loan mail person address link, then an account mail person address link, followed by a person address in the order of the setting in the default address method under the environment table.
For 0000210052 L0051, an interest rate change took place. The CU reviewed the results and found that the payment amount was incorrect. They were expecting for the loan to be amortized by the remaining term left. Explain how the system calculated the new payment amount when the rate change was completed, what the solution is based on the CU's expected result, and what should have been the correct estimated payment amount?
The loan is setup on a 30 year payment calculation that is set to 360 Payoff Months. It takes the Principal Balance and Ammortizes it over 360 months every single time it updates (in this case: By Interest Rate Change). Based on the CU's expected behavior, we should consider setting the Payment Calculation to Payoff by Maturity Date. If this is selected, the payment should be $3,002.14.