Navigation: Appendix A - Merge Field Descriptions (Loans) >
This letter will print when there is a "1" in the Action Code field on the Letters & Actions tab, and the date of the action code is today’s date. Action code 1 stops all activity on the loan. This letter can be generated from 1 to 99 days before the balloon date. You must inform GOLDPoint Systems of the number of days (01–99) prior to the balloon date the letters should be generated.
GOLDPoint Systems Only: Miscellaneous Parameters 1-2 on the Loan Report Setup screen for FPSRP175, Event Letter Report, store the number of days prior to the balloon date to create the letter. |
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Merge Field |
Field Mnemonic/ Calculation |
Description |
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ROUND RATE E T Q |
LNRRND |
Round rate to the eighth, tenth, or quarter. |
TOTAL DUE AT BALLOON DATE |
LETT01 |
Total amount due at balloon date. (Amortizes payments to balloon date. Also adds late charges, fees, subsidies, and negative interest, then subtracts reserve balance. Accrues interest to the balloon date.
Payment method 5 loans include the current and prior finance charges.
Note: When the payments are amortized, the system makes pseudo-payments so the principal balance used is the amortized balance instead of the current principal balance. |
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