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Scenario 5: One Payment, Curtailment
Scenario 5a: 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 |
11/01/2020 |
|
Original Term |
360 |
Aggregate Curtailment Amount |
1000.00 |
|
Note Rate |
3.50 |
Current UPB |
186204.92 |
|
P&I |
841.96 |
Issue Date UPB |
186204.92 |
When the LPI Date is equal to the Pool Issue Date, the Issue Date UPB will be the same as the Current UPB.
Scenario 5b: 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 |
1000.00 |
|
Note Rate |
3.50 |
Current UPB |
186204.92 |
|
P&I |
841.96 |
Issue Date UPB |
186502.91 |
Step-by-Step Instructions:
Reverse Amortize the Current UPB for 1 month (to add the December principal payment)
- Current UPB + P&I = Sum 1
186,204.92 + 841.96 = 187046.88 - 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
187,046.88 / 1.002916667 = 186502.91
Scenario 5c: 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 |
1000.00 |
|
Note Rate |
3.50 |
Current UPB |
186204.92 |
|
P&I |
841.96 |
Issue Date UPB |
186502.91 |
|
|
|
Note Date |
11/16/2020 |
Note: Do not enter data in the Aggregate Curtailment Amount field if you have a prepaid Same Month Pooling Loan. The Aggregate Curtailment Amount must be reflected in the Current UPB. (Fannie Mae is in the process of updating this calculation.)
Step-by-Step Instructions:
Reverse Amortize the Current UPB for 1 month (to add the January principal payment)
- Current UPB + P&I = Sum 1
186,204.92 + 841.96 = 187,046.88 - 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
187,046.88 / 1.002916667 = 186502.91
