Navigation:  Appendix A - Merge Field Descriptions (Loans) >

Event 15, LIP Billing Event

Navigation:  Appendix A - Merge Field Descriptions (Loans) >

Event 15, LIP Billing Event

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This event record is automatically generated when the Prior Unpaid Charges field on the LIP Information Fields screen is changed. This event cannot be requested annually.

 

Example Event 15 Letter

 

Merge Field

Field Mnemonic/ Calculation

Description

LIP CAP PERIOD LENGTH

LNLPLN

Length of the LIP rate cap period

LIP CHARGE AMOUNT

LNLCGA

LIP charge amount

LIP CURRENT INTEREST DUE

TRNLOG

Current LIP interest (same as last billed amount)

LIP DATE PERIOD STARTS

LNLPSD

Starting date of the current LIP rate cap period

LIP DAYS BEFORE RATE CHANGE

LNLDYS

Days before the LIP rate change date to calc next rate

LIP INSPECTION DATE

LNLIND

LIP date of last or next inspection

LIP INTEREST RETENTION

LNLRIN

LIP interest retention amount
(To be used only if you do not use the LIP budgets)

LIP NEXT BILL OR CHARGE DATE

LNLDUE

Next date LIP interest is to be charged or billed

LIP NEXT INTEREST RATE

LNLNXT

Next LIP interest rate

LIP OLD BILL OR CHARGE DATE

TRNLOG

Current LIP billing date

LIP PERIODIC RATE MAXIMUM

LNLPMX

Maximum points per period the LIP rate can increase

LIP PERIODIC RATE MINIMUM

LNLPMN

Maximum points per period the LIP rate can decrease

LIP PERIODIC START RATE

LNLPSR

Starting rate of the rate cap period

LIP PRIOR UNPAID NEW CHARGES

LNLPCG

Prior unpaid interest after current LIP billing

LIP PRIOR UNPAID OLD CHARGES

TRNLOG

Prior unpaid interest before current LIP billing

LIP RATE CHANGE DATE

LNLCHD

Next date the LIP rate will change

LIP RATE CHANGE FREQUENCY

LNLFRQ

Number of months that pass between rate rolls

LIP RETENTION AMOUNT

LNLRET

LIP retention amount (Funds to be held for miscellaneous reasons. This should not be used if you use the LIP budgets.)

LIP TOTAL DUE WITH LATE AND FEES

TRNLOG + LNLATE + LNFEES

Total unpaid (current plus prior) interest plus late charges and loan fees

LIP TOTAL DUE WITH LATE CHGS

TRNLOG + LNLATE

Total unpaid (current plus prior) interest plus late charges

LIP TOTAL INTEREST DUE

TRNLOG

Total unpaid interest due (current interest plus prior unpaid interest)

 

 

See also:

Appendix A

Common Fields (All Events)

CIS Fields

Basic Loan Fields

 

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