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

Entry: System, numeric

F/M: No

Mnemonic: LNPICN

Screen: Loans > Original Loan Disclosure screen

 

This field displays the face amount, or face value, of the loan. The Face Amount is calculated by taking the Original Balance on the loan and subtracting any maintenance fees (at origination) and original unearned precomputed interest (if applicable).

 

This field is used in Credit Reporting to determine the High or original amount.

 

This field is used in many amortizing calculations, such as amortizing fees and precomputed interest.

 

Face Amount = Original Balance - Maintenance Fees (amortizing fees that are designated at loan origination) - Original Unearned Interest

 

Example: The Original Balance on a loan is $1,450.00. The loan is a precomputed loan with Original Unearned Interest of $150.00, as well as $45 in maintenance fees.

 

$1,450.00 - $150.00 - $45 = $1,255.00