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Recency Cat codes refers to the last full payment on the loan. If the first full payment has not been made on a loan, the system will use the date the loan was opened as the Last Recency date. If institution option UORC is set, the Recency Date will be the monthend of the month the Open Loan transaction (tran code 680) was processed. If the first full payment was made and then retracted, the Last Recency date will revert back to the date the loan was opened as the Last Recency date.

 

Recency calculations may differ for each institution. One example of calculating the recency code is by comparing the date of last recency (the end-of-month date of the day that the account owner has made payments totaling up to the amount of the P/I constant (LNPICN, LNPINX, or LNOPIC)) with today's date; or, if the date of the last payment is not in the current month, with the last day of the prior month. The number of months difference between the date of last recency and the as-of date determines the recency code as shown:

 

 

For Institution 380, recency is determined as follows:

 

 

A recency calculation format is available for institutions who calculate recency based on days (rather than monthly). This calculation is based on the number of days since the most recent full payment on a loan (taking into consideration the Roll Due Date Within and Roll Due Date Type fields). When this day-based recency category table is in use, this field will display a code depending on the number of days since the most recent full payment. These codes are as follows:

 

5-29 Days - Code 10

30-59 Days – Code 30

60-89 Days – Code 60

90-119 Days – Code 90

120-149 Days – Code 120

150-179 Days – Code 150

180-209 Days – Code 180

210 Days or more – Code 210

 

Loans that have a calculated recency date that is greater than or equal to the run date of the Daily Detail Delinquency Report (FPSRP274) will not have a recency status and will not be included in the Recency Delinquency totals.