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

Entry: System, numeric

F/M: No

Mnemonic: ASBADIEM

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

The amount in this field is one day’s accrued interest of the principal balance plus deferred interest, or the LIP undisbursed balance for LIP loans (AKA construction loans).

When the payoff occurs after the payoff date, this amount will be added to the payoff amount for each day after the payoff date the payoff actually occurs. The interest calculation method used to figure the per diem amount is determined by a code in the Per Diem Code field on the Loans > Payoff screen. This field is not file maintainable.

The per diem on the screen can be rounded to two (default) or three decimal places. Institution Option POPD displays three decimal places (e.g., 29.342 as opposed to 29.34). The online payoff letter uses this option also. However, the event letters do not use this option. The GOLD EventLetters program can display the per diem either way based on how the letter is set up.

•You can insert the merge field <<PER_DIEM>> in the letter, and the system will calculate the per diem as follows:

Principal Balance (LNPBAL) + Current Interest Rate (LNRATX) / Interest Calculation Method (LNIBAS)

•Or you can include the merge field <<PO_PER_DIEM>>. This field is pulled from the Per Diem field on the Payoff screen, Balances tab. We suggest you use the <<PO_PER_DIEM>> merge field. See Event Letter 14 in Appendix A of the GOLD EventLetters user's manual for more information on fields available for the Payoff letter.