Loan Screens > Account Information Screen Group > ARM Information Screen > Rate Caps & Negative Amortization tab > Negative Amortization field group

Entry: User, numeric

F/M: Yes

Mnemonic: LNAMCC

Screen: Loans > Account Information > ARM Information > Rate Caps & Negative Amortization tab

Although this is a system-supplied field, it is file maintainable. This field indicates how many times the P/I has changed over the life of the loan, and is automatically entered by the system. It is used when the Use Payment Cap field has a checkmark and the Frequency to Ignore P/I Limit field is not zero. It indicates which P/I changes should do full amortization regardless of the P/I Increase Limit. The system knows when to fully amortize a P/I when this field becomes divisible by the Frequency to Ignore P/I Limit field. Example: If the Frequency to Ignore P/I Limit field is 5, then when the counter becomes 5, 10, 15, etc., the P/I is fully amortized.