Navigation:  Loan Screens > Account Information Screen Group > Payment Information Screen > Loan Information tab > Current Installment Number

Entry: User, date

F/M: Yes

Mnemonic: LNCINO

Screen: Loans > Account Information > Payment Information > Loan Information tab

 

The Original Installment Number and Current Installment Number are the same, and stay the same throughout the life of the loan, unless one or both of the following occurs on the loan:

 

1.The loan frequency is changed. If the loan frequency is changed, the Current Installment Number increases or decreases accordingly. For example, if the Current Installment Number is 100 for monthly payments, and the Frequency is changed to weekly, the Current Installment Number is increased to 400. However, the Original Installment Number stays the same. The Original Payment Frequency field displays what the payment frequency was when the loan was originated.

 

2.If a deferment or loan extension is applied to the loan, the Original Installment Number remains static and the Current Installment Number advances the number of frequency cycles that the account was deferred/extended. Installments/payments that are made that roll the due date update the Installments Made field.