Navigation:  Loan Screens > Account Adjustment Screen > Current Account Information field group > Last Deferment Date

Entry: System, date

F/M: No

Mnemonic: MLDTE1

Screen: Loans > Account Adjustment screen

 

This is the date the deferred payment was last late. If this field is blank, the payments have never been late. Deferring interest means that if a principal and interest payment does not cover all of the accrued interest owing, the remaining unpaid interest is added to the loan principal balance. After deferral (adding it to the principal balance), interest is also accrued on the deferred amount. See the Loan Deferments screen for additional help regarding deferments.