Navigation: Loan Screens > Account Information Screen Group > ARM Information Screen > ARM Detail tab > P/I Payment field group >
Next P/I Change Date
Entry: System, date
F/M: No
Mnemonic: LNPIEF
Screen: Loans > Account Information > ARM Information > ARM Detail tab
This is the payment due date for the new P/I. It is the date the next P/I replaces the current P/I. This field is used in conjunction with the Next P/I field. Enter the date using MMDDYYYY format, or use the drop-down calendar to select the date.
The P/I change date is used for both manual and automatic P/I changes. The Next P/I will be calculated on the date of the number of days entered in the Days Before P/I Change field prior to the actual date entered in the field.
In order to make changes manually, the P/I Change Frequency field should be zero (0).
File maintenance to this file is done on the ARM Rates & P/I Tables tab.
WARNING: For new loans, the program uses the First Due Date field (displayed lower in this field group). It will not calculate a new P/I until the date in the First Due Date field is in the past.