Navigation:  Loan Screens > Original Loan Disclosure Screen > Loan Disclosure Information field group > Amount Financed

Entry: System, numeric

F/M: No

Mnemonic: OTAFIN

Screen: Loans > Original Loan Disclosure screen

 

This field displays the amount your institution financed for the customer loan account.

 

The amount financed is the loan amount applied for less prepaid finance charges. Prepaid finance charges can be found on the Good Faith Estimate/Settlement Statement (HUD-1 or 1A).

 

For example, if the customer’s note is for $100,000 and prepaid finance charges totaled $5,000, the value in this field would be $95,000. This value is the figure on which the Annual Percentage Rate (APR) is based.