Event 30, Buydown Payment Change |
  
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Navigation: Appendix A - Merge Field Descriptions (Loans) >
Event 30, Buydown Payment Change |
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This letter is generated one month prior to the new subsidy effective date in the Loan system.
Merge Field |
Field Mnemonic/ Calculation |
Description |
|---|---|---|
DAYS BEFORE PAYMENT CHANGE |
LNAMID |
Days prior to next P/I change date to calculate pmt |
DAYS BEFORE RATE CHANGE |
LNAMAD |
Days prior to next rate change date to calculate rate |
NEW PAYMENT WITHOUT SUBSIDY |
LNPICN + EFF |
P/I payment + effective Reserve 1 payment + effective Reserve 2 payment ***new payment amounts are calculated using payments that are in effect as of the subsidy effective date |
NEW PAYMENT WITH SUBSIDY |
LNPICN + EFF |
P/I payment + effective Reserve 1 payment + effective Reserve 2 payment - next subsidy payment ***new payment amounts are calculated using payments that are in effect as of the subsidy effective date |
NEXT SUBSIDY PAYMENT |
LNSNXT |
Next subsidy payment |
ROUND RATE E T Q |
LNRRND |
Round rate to the eighth, tenth or quarter |
SUBSIDY ACCRUED INTEREST |
LNSACI |
Subsidy accrued interest |
SUBSIDY EFFECTIVE DATE |
LNSEFF |
Subsidy effective date |
SUBSIDY EXPIRATION DATE |
LNSEXP |
Subsidy expiration date |
See also: