Navigation:  Loan Screens > Account Information Screen Group > Account Detail Screen > Account tab > Payment and Classification field group > Next PI Const

Entry: System, numeric

F/M: No

Mnemonic: LNPINX

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

 

The Next PI Const replaces the PI Constant as the amount of the loan payment. This new payment occurs when the due date is advanced by the system to be greater than the Next PI Effective date. If modified payments are set up on the loan (through the Loans > Transactions > CP2 screen, Payment Schedule tab), this field will display the amount of the next modified payment.

 

For ARM loans, this amount is automatically calculated based on the information entered on the Loans > Account Information > ARM Information screen. It will be calculated on the number of days entered on that screen in the Days Before Payment P/I Change field before the date entered in the Next PI Effective field. This amount will also be calculated any time the calculated date is in the past and there is not already something entered in this field.