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Scenario 3: Paid in Advance
Scenario 3a: First Payment Date = Pool Issue Date
| Data Attribute | Value | Data Attribute | Value |
|
Pool Issue Date |
11/01/2020 |
1st Payment Date |
11/01/2020 |
|
Original Loan Amount |
187500.00 |
Last Paid Installment Date |
12/01/2020 |
|
Original Term |
360 |
Aggregate Curtailment Amount |
|
|
Note Rate |
3.50 |
Current UPB |
186908.97 |
|
P&I |
841.96 |
Issue Date UPB |
187204.92 |
Step-by-Step Instructions:
Reverse amortize the loan 1 month to add the principal for December.
- Current UPB + P&I = Sum 1
186,908.97 + 841.96 = 187,750.93 - Determine the Monthly Interest Rate Factor and add 1
3.50 / 12 = .002916667 + 1 = 1.002916667 - Sum from Step 1 divided by the Monthly Interest Rate Factor = Issue Date UPB
187,750.93 / 1.002916667 = 187,204.92
Scenario 3b: First Payment Date 1 Month > Pool Issue Date
| Data Attribute | Value | Data Attribute | Value |
|
Pool Issue Date |
11/01/2020 |
1st Payment Date |
12/01/2020 |
|
Original Loan Amount |
187500.00 |
Last Paid Installment Date |
12/01/2020 |
|
Original Term |
360 |
Aggregate Curtailment Amount |
|
|
Note Rate |
3.50 |
Current UPB |
187204.91 |
|
P&I |
841.96 |
Issue Date UPB |
187500.00 |
Step-by-Step Instructions:
Reverse amortize the loan for 1 month to add the principal for December.
- Current UPB + P&I = Sum 1
187,204.91 + 841.96 = 188,046.87 - Determine the Monthly Interest Rate Factor and add 1
3.50 / 12 = .002916667 + 1 = 1.002916667 - Sum from Step 1 divided by the Monthly Interest Rate Factor = Issue Date UPB
188,046.87 / 1.002916667 = 187,500.00
Scenario 3c: Same Month Pooling
| Data Attribute | Value | Data Attribute | Value |
|
Pool Issue Date |
11/01/2020 |
1st Payment Date |
01/01/2021 |
|
Original Loan Amount |
187500.00 |
Last Paid Installment Date |
01/01/2021 |
|
Original Term |
360 |
Aggregate Curtailment Amount |
|
|
Note Rate |
3.50 |
Current UPB |
187204.91 |
|
P&I |
841.96 |
Issue Date UPB |
187500.00 |
|
|
|
Note Date |
11/16/2020 |
Step-by-Step Instructions:
Reverse amortize the loan by 1 month to add the principal for January.
- Current UPB + P&I = Sum 1
187,204.91 + 841.96 = 188,046.87 - Determine the Monthly Interest Rate Factor and add 1
3.50 / 12 = .002916667 + 1 = 1.002916667 - Sum from Step 1 divided by the Monthly Interest Rate Factor = Issue Date UPB m
188,046.87 / 1.002916667 = 187,500.00
