Loan Screens > Account Information Screen Group > Precomputed Loans Screen > Unearned Interest field group

Entry: System, numeric

F/M: No

Mnemonic: LN78RI

Screen: Loans > Account Information > Precomputed Loans screen

This is the amount of interest that was rebated to the borrower at payoff. An amount appears in this field after the Payoff transaction is run and the account is closed. If the account is due a rebate on Payoff, the Adjustments tab on the Payoff screen will display the amount of the rebate as "INTEREST REBATE."

Many different factors affect the amount of rebated interest. See these fields for more information:

•Rebate Rule Days

•Int Rebate Method

•Refund Rule

•Minimum Earned Interest

•Minimum Interest Rebate Limit