At the end of 2018, a record 7 million Americans were 90 days or more behind on their auto loan payments. What does this mean for lenders? It means that delinquency is at an all-time high and you need to be prepared. You need to know who is behind on their loans, what branches have the most delinquencies, and how many loans are delinquent at your institution. Enter the Daily Detail Delinquency Report.
Daily Detail Delinquency Report
The Daily Detail Delinquency Report (FPSRP274) is one of the most-used reports at GOLDPoint Systems. And there’s a good reason why: Cash flow. Cash flow is essential to your institution’s well-being and delinquent customers can negatively affect your cash flow. So, it’s up to you to find those customers who are delinquent on their loans and get them to pay (a whole other blog post).
The Daily Detail Delinquency Report shows all loans with an effective due date in the past on the day the report is run.
Example of Daily Detail Delinquency Report (FPSRP274)
It also includes totals and summaries for your entire institution and the different branches. You can see how many loans are more than five days delinquent to more than 180-days delinquent. You can also see how much money your institution is missing out on because of delinquency in the Delinquency Balance columns. That should give you some motivation to start collecting.
Example of Summary Section of Daily Detail Delinquency Report (FPSRP274)
Are you convinced? Great. Now let’s see how to run the Daily Detail Delinquency Report so you can start reclaiming some of that money.
Finding the Report
Once the Daily Detail Delinquency Report has been set up for your institution, finding the report is a relatively easy affair. Simply open up CIM GOLD and navigate to GOLDView Plus within the Report Warehouse.
There are several ways to run a query for a report but the easiest way to run a query for the Daily Detail Delinquency Report is to type “FPSRP274” into the Report Program field, select a starting and ending date, and click <Search…>. A list of reports shows up in the Reports list view that you can double-click on to view or right-click on to download.
And that’s it--it’s as simple as that.
Example of a Daily Detail Delinquency Report Query
For more information, see the Daily Detail Delinquency Report (FPSRP274) topic in DocsOnWeb.