Loan Screens > Account Information Screen Group > Account Detail Screen > Payment Detail tab > Payment Information field group

Entry: User, date

F/M: Yes

Mnemonic: LN1DUE

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

In this field, enter the first payment due date on this loan in MMDDYYYY format.

WARNING: Do not leave this field blank.

This is a critical field that is used by numerous afterhours reports. Coupons and bill/receipt statements use this date to determine the first coupon/billing. ARM loans will not perform the calculation for a new P/I prior to the first due date. Example: If the date the new P/I is to be calculated is 12/15 but the first due date is 2/1, the program will not calculate a P/I on 12/15. In this scenario, either the date in the Next P/I Payment Change field or in the First Due field is wrong.

For line-of-credit loans (payment method 5, 9 or 10), if the first due date is not known, enter the date the loan was opened, so the field will not be blank. (A bill/receipt will not be created until there is a principal advance. The statement will be created on the next coupon/bill cycle after the advance.)