Navigation: Appendix A - Merge Field Descriptions (Loans) >
This event record is generated automatically when the ARM accrual rate goes up, a new P/I payment is calculated, and lifetime rate caps are used (the new rate is equal to the lifetime minimum cap or the lifetime maximum cap).
Merge Field |
Field Mnemonic/ Calculation |
Description |
---|---|---|
ARM 2ND NEXT P/I CHANGE DATE |
LNPIEF + |
P/I effective date plus the P/I payment change frequency |
ARM 2ND NEXT RATE CHANGE DATE |
LNAMDT + |
Next accrual rate change date plus the rate change frequency |
ARM AMORTIZED P/I PAYMENT |
LNAPIC |
The P/I payment required to fully amortize the loan |
ARM AMORTIZED PRINCIPAL BALANCE |
AMTZ PRIN |
The principal balance on which the new adjusted payment is based |
ARM BASE INDEX |
LNBINX |
Base index value used when calculating the new rate on the loan account when the Use this Base Index Rate field displays a checkmark |
ARM DAYS BEFORE RATE CHANGE |
LNAMAD |
Days before the next accrual rate change date to calculate a new rate |
ARM DIFF BETWEEN NXT CURRENT INDEX |
NEW INDEX - |
Difference between the next accrual index and current accrual index |
ARM DIFF BETWEEN NXT ORIGINAL RATE |
LNAMNA - |
Difference between the next accrual rate and the original rate |
ARM GRADUATED PMT INCREASE PERCENT |
LNAMGI |
The percentage the P/I payment will increase each P/I payment frequency |
ARM INDEX PUBLISHING FREQUENCY |
RTPBFQ |
Frequency the index is published. This information is entered on the Loans > System Setup Screens > Interest Rate Table screen. |
ARM INTEREST ACCRUAL RATE |
LNAMRT |
The rate at which interest should accrue for payment method 7 loans |
ARM INTEREST ONLY P/I PAYMENT |
LNIPIC |
The P/I payment required to satisfy the calculated interest |
ARM INTEREST RATE POINTER |
LNAMPT |
The accrual rate pointer that is tied to the rate index |
ARM MOST RECENT P/I CHANGE DATE |
Newest P/I change date on the ARM Rates & P/I Tables tab on the ARM Information screen |
|
ARM MOST RECENT P/I PAYMENT |
Newest P/I payment on the ARM Rates & P/I Tables tab on the ARM Information screen |
|
ARM MOST RECENT TOTAL PAYMENT |
MOST RECENT P/I + |
Newest P/I payment on the ARM Rates & P/I Tables tab on the ARM Information screen, plus Reserve 1 payment effective for the newest payment change date plus Reserve 2 payment effective for the newest payment change date minus subsidy payment effective for the newest payment change date |
ARM NAME OF RATE INDEX |
RTCL34 |
Name of the index, such as LIBOR. This information is entered on the Loans > System Setup Screens > Interest Rate Table screen. |
ARM NEW INDEX |
LNAPIN |
New index (last index) |
ARM NEW INDEX WITH OFFSET |
LNAPIN + |
New index plus accrual rate offset/margin |
ARM NEW P/I PAYMENT |
LNPINX |
Newly calculated P/I payment |
ARM NEW R1 PAYMENT |
EFFECTIVE R1 |
The Reserve 1 payment effective with the new payment change |
ARM NEW R2 PAYMENT |
EFFECTIVE R2 |
Reserve 2 payment effective with the new payment |
ARM NEW SUBSIDY PAYMENT |
EFFECTIVE SUBSIDY |
The subsidy payment effective with the new payment |
ARM NEW TOTAL PAYMENT |
NEW P/I + |
New P/I payment plus new Reserve 1 payment plus new Reserve 2 payment minus new subsidy payment |
ARM NEXT INTEREST ACCRUAL RATE |
LNAMNA |
Next accrual rate for this account |
ARM NEXT RATE CHANGE DATE |
LNAMDT |
Date of the next rate change on the loan |
ARM OLD INDEX |
TRLG |
Old (prior) index |
ARM OLD P/I PAYMENT |
LNPICN |
Old P/I payment in effect prior to the new payment change |
ARM OLD R1 PAYMENT |
EFFECTIVE R1 |
Reserve 1 payment in effect prior to the new payment change |
ARM OLD R2 PAYMENT |
EFFECTIVE R2 |
Reserve 2 payment in effect prior to the new payment change |
ARM OLD SUBSIDY PAYMENT |
EFFECTIVE SUBSIDY |
Subsidy payment if effect prior to the new payment change |
ARM OLD TOTAL PAYMENT |
OLD P/I + |
Old P/I payment plus old Reserve 1 payment plus old Reserve 2 payment minus old subsidy payment |
ARM ORIGINAL RATE |
LNAMOA |
Original loan rate |
ARM P/I PAYMENT BASED ON INC LMT |
LNPICN* |
Old P/I payment multiplied by the P/I payment increase limit |
ARM P/I PAYMENT CHANGE COUNTER |
LNAMCC |
Number of times the system calculates the next P/I payment automatically |
ARM P/I PAYMENT CHANGE DATE |
LNPIEF |
The date that the next P/I payment will replace the P/I payment |
ARM P/I PAYMENT CHANGE FREQUENCY |
LNAMPC |
Number of months that should occur between payment changes |
ARM P/I PAYMENT INCREASE LIMIT |
LNAMPL |
The percentage the P/I payment can increase with a payment change |
ARM PAYMENT RATE |
LNRATE |
The payment rate on the loan |
ARM RATE CHANGE FREQUENCY |
LNAMFQ |
Number of months that should occur between rate changes |
ARM RATE CHANGE MINIMUM |
LNAMCM |
The minimum percentage by which the loan rate can be changed |
ARM REMAINING TERM |
LNMATD- |
Month’s difference between the maturity date and next accrual rate change date. For bi-weekly loans, take the term in months divided by 12 multiplied by 26 to get the number of payments. Subtract the installment from the number of payments to get remaining payments. Take remaining payments divided by 26 then multiply by 12 to get the remaining term in months. |
ARM SOURCE OF RATE INDEX |
RTPBDS |
Publishing source of the index rate (e.g., Wall Street Journal). This information is entered on the Loans > System Setup Screens > Interest Rate Table screen. |
PREPAYMENT PENALTY END DATE |
Calculated field |
End date of the prepayment penalty |
PROJECTED PMT PRINCIPAL PORTION |
Calculated |
Principal portion of the projected new payment. |
PROJECTED PMT INTEREST PORTION |
Calculated |
Interest portion of the projected new payment. |
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