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Scenario 4: No Payment, Curtailment
Scenario 4a: 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 |
10/01/2020 |
|
Original Term |
360 |
Aggregate Curtailment Amount |
1000.00 |
|
Note Rate |
3.50 |
Current UPB |
186500.00 |
|
P&I |
841.96 |
Issue Date UPB |
186202.00 |
Step-by-Step Instructions:
Amortize the Current UPB, which reflects curtailment, for one more month to add the November principal.
- Current UPB x Note Rate = Step 1 Sum
186,500.00 x 3.5 % = 6,527.50 - Step 1 Sum divided by 12 = Interest
6,527.50 / 12 = 543.96 - P&I – Step 2 Sum = Principal
841.96 – 543.96 = 298.00 - Current UPB - Principal = Issue Date UPB
186,500.00 – 298.00 = 186,202.00
Scenario 4b: 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 |
11/01/2020 |
|
Original Term |
360 |
Aggregate Curtailment Amount |
1000.00 |
|
Note Rate |
3.50 |
Current UPB |
186500.00 |
|
P&I |
841.96 |
Issue Date UPB |
186500.00 |
If the First Payment Date is greater than the Pool Issue Date for a November pool and no payments have been applied, the Issue Date UPB must equal the Current UPB.
Scenario 4c: 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 |
12/01/2020 |
|
Original Term |
360 |
Aggregate Curtailment Amount |
1000.00 |
|
Note Rate |
3.50 |
Current UPB |
186500.00 |
|
P&I |
841.96 |
Issue Date UPB |
186500.00 |
|
|
|
Note Date |
11/16/2020 |
If the First Payment Date is greater than the Pool Issue Date for November pool and no payments have been applied, the Issue Date UPB must equal the Current UPB.
