GOLDPoint Systems’ 2023 In Review: Last Year’s Development Highlights

2023 was a big year for GPS and its clients. We continued the march towards our all-Web future, servicing a ton of loans and making our client institutions a ton of money along the way. All signs point to 2024 being another productive and lucrative year.

In continuing an annual tradition, we combed through last year’s Update and What’s New releases to list the biggest and best development highlights made possible by GOLDPoint’s hardworking employees in 2023. Follow the links below, check out the Help Center, or talk to your account representative for more information about the new apps, screens, features, and options listed here.

New Lending Engine^® Apps

• GOLDTrak Online (GTO) is our new loan origination app that communicates with the Automated Workflow Engine to streamline the application, approval, and origination processes. GTO Setup is also available to customize your applications to meet your institution’s specific needs.
  

• PreQual is a customer-facing portal that allows an institution to use the Automated Workflow Engine to prequalify potential loan applicants. This speeds up the application process and allows customers to see if they pre-qualify without impacting their credit score.
• Document Engine is used quickly set up a document template (such as a loan agreement) and then create a document from that template. Documents can be bundled together in packets, which can be used in the Automated Workflow Engine.
  

• ACH Account Validator can be used to view ACH account information added through GOLDAccount Center (GAC), check its validation status, and override any status if necessary.

New CIM GOLD Screen

We have created a new Client Code Setup screen: Codes to Update Last Comment Customer Contact Date. This new screen displays a list of collection comment codes (both system-defined and user-defined). If you check the box next to a collection comment code in the list and click <Save>, the Date/Time of Last Customer Contact will be updated when users add that code to an account.

New Fields and Options

• New Institution Options:
  • OP13 UTED is available for institutions who want to use a backdated effective date when converting a precomputed loan to simple interest-bearing, yet have the Last Transaction Date (LNTRAN) stay as the date the PC2IB conversion was run and not update to the backdated effective date.
  • OP34 ACIT allows insurance commissions to amortize over the life of the insurance policy.
• New Dealer approval statuses: Terminatedand Withdrawn. A Terminated status indicates that your institution has canceled its arrangement with the dealer, while a Withdrawn status indicates that the dealer has chosen to cancel their arrangement with your institution (either post-approval or during the application process). A dealer in Terminated or Withdrawn status will function like a dealer in Denied status. Dealers assigned one of these new statuses will be grouped with unapproved dealers in system searches.
• Field level security is now available that can be used to restrict users from accessing the Card Profiles dialog in CIM GOLD (and therefore restrict users from creating or editing card profiles).
• A new Watermark Before Funding feature is available in File Services Plus. This option allows an institution to watermark files before the loan is funded.
• Archived accounts can now be included in Inter-Office Moves.
• Two new fields/mnemonics have been created which affect how amortization fees are refunded if a deferment has been processed on an account:
  • Extended Payoff Org Time for Deferral (F1EXOT): If this option is used, the system will extend the original term used to calculate the refund of the amortizing fee by the number of deferments.
  • Extended Payoff Rem Time for Deferral (F1EXRT): If this option is used, the system will subtract the number of deferments from the elapsed term to calculate the refund.
• New amortization methods:
  • Insurance Amortization Method 26: Daily Level Yield
  • Fee/Cost Amortization Method 19: Rule of 78s Using Anniversary of Date Opened
• New refund rule: 16 ($25 Minimum Earned). When this rule is in use, your institution will retain up to $25.00 in earnings until the calculated earnings amount is greater than $25.00.

System Enhancements 

• As of CIM GOLD 8.23.6, our major Employee ID project is complete. The goal of this project was to eliminate the use of Teller ID numbers in the system and transition to exclusively using Employee ID numbers so that each CIM user only requires one user ID.
• Multi-Factor Authentication (MFA) has been added to GOLDAccount Center (GAC). GAC MFA requires a user to enter a six-digit security code that is sent to the email address on file.
• The Loan Portal has undergone major enhancements to its contents and customization. More tabs are now available and more fields are available on each tab, the vast majority of which can be hidden or enabled according to your institution's specific needs.