Navigation:  Loan Screens > Account Adjustment Screen > Current Account Information field group > Number of Deferments

Entry: System, numeric

F/M: No

Mnemonic: MLCNT1

Screen: Loans > Account Adjustment screen

 

This field shows the total number of deferments processed for the life of the loan. 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.