Calculating Truth in Lending

The Calculators - Truth-In-Lending tab calculates the information for Federal Regulation Z Truth-in-Lending disclosure purposes. The information calculated by the Calculators - Truth-In-Lending tab automatically transfers to the New Loan - Setup tab. The Calculators - Truth-In-Lending tab also lets you complete truth-in-lending calculations for new and existing loans and print an amortization schedule.

To access the Calculators - Truth-In-Lending tab, click New Loan in the Lending menu on the Portico Explorer Bar.

Truth In Lending

To access the Truth-In-Lending dialog box from the top menu bar, click Activity, then click Calculators. Then, click Truth in Lending.

How do I? and Field Help

Depending on the type of loan, the Truth-In-Lending dialog box allows you to enter different types of information for calculation purposes. The following table lists the information calculated when you enter the specified information:

Installment Loan

Entered	Calculated
Loan balance and number of payments	Payment amount
Loan balance and payment amount	Number of payments
Payment amount and number of payments	Loan Balance

Single-Payment Loan

Entered	Calculated
Loan balance	Payment amount
Payment amount	Loan Balance

Residual (Balloon) Payment Loan

Entered	Calculated
Loan balance, amortization term, and number of payments	Payment amount and residual amount
Loan balance, number of payments, and payment amount	Payment amount
Payment amount amortization term, and number of payments	Loan balance and residual amount
Loan balance, payment amount, and number of payments	Residual amount

Complete the following fields to calculate truth-in-lending.

Field	Description
Note Number	For an existing loan, click the down arrow to select a current member loan to calculate Truth in Lending. Then, click the green arrow. For a new loan, enter a unique note number. Length: 6 alphanumeric
Effective Date	Click the down arrow to select a date from the pop-up calendar or accept the default teller date. Dividend and interest calculations are based on this date. While future effective dating is not allowed on most transactions, you can specify a future effective date on the Truth-In-Lending dialog box. Also, effective dating into a prior dividend period is not allowed. If you access the Truth-In-Lending dialog box for an existing loan, the date in the Date Interest Last Calculated field on the Loans - Interest/Charges tab will appear in this field. Keyword: ED
Due Date	Click the down arrow to select the date the first scheduled payment is due from the pop-up calendar or enter the date in MM/DD/YYYY format. The date is advanced when a full payment is made against the loan. The Frequency field determines the next payment due date. On monthly (360 day) interest loans, the Due Date field must be on the first day of the month. Changes to this field can impact delinquency calculations. If you access the Truth-In-Lending dialog box for an existing loan, the due date from the Loans - Payment tab will appear in this field. Keyword: PD
Loan Balance	The principal amount due on the loan. Length: 12 numeric including decimal Keyword: LB
Number of Payments	The number of scheduled payments remaining to pay off the loan. This field is automatically reduced for each full payment made. The valid value may range from zero through 999. Length: 3 numeric Keyword: NP
Primary Rate	The primary interest rate used to calculate the amount of interest due on the loan. Interest due is based on the loan principal for a specified time period. The interest rate can be equal to or greater than zero, but must be less than 36.500. The value must be 0.00 for loans that support 360-day interest. Any change to this field can impact loan calculations or delinquency. To report manual rate changes on loans, a history entry will be created when the Primary field is changed. The effective date of the rate change will be the date in the Date Interest Last Calculated field. Length: 6 numeric including decimal Keyword: IR Reporting Analytics: Annual Rate 1 and Daily Loan Rate (Loan Base subject in Loan folder and ME Loan Base subject in Month-end Information\Loan Month-end folder)
Payment Frequency	Click the down arrow to indicate the payment time interval on the loan. On monthly (360 day) interest loans, the frequency field must be Monthly. The valid options are: 0 - Term or one time payment 1 - Weekly 3 - Bi-weekly 5 - Semi-monthly 6 - Semi-annually 7 - Monthly - system default on a new loan 8 - Annually 9 - Quarterly Weekly and Bi-weekly are not valid for a loan type with payment type 007 and calculation options of B, F or P. Single Pmt / Term is not valid for all payment type 007 loans. Changes to this field can impact delinquency calculations. Keyword: PF
Payment Amount	The scheduled payment amount on the loan. Changes to this field can impact delinquency calculations. Length: 9 numeric including decimal Keyword: SP
Plan Code	The loan plan that should be used for “what if” calculations. The system default for the Plan Code field for a new loan is defined on the Credit Union Profile – Loans tab and will automatically appear on the Truth In Lending dialog box for “what if” calculations. The plan code will automatically transfer to the New Loan window if a new loan is booked from the Truth In Lending dialog box. For existing loans, the Plan Code field will display the plan code from the Loans – General tab.

If desired, complete the fields in the Advanced Calculation Options group box.

Field	Description
360 Day Interest	Select this check box to base the monthly interest loan calculation on a 360 day year. Valid for payment type 001 and 009 loans. The 360 Day Interest check box must be selected for payment type 009 loans. The 360 Day Interest check box is mainly used for mortgage loans and adjustable rate mortgages. The payment due date on 360-day interest loans must be the 1st of the month. Loan advances and partial payments are not permitted. Partial principal only payments are not permitted on 360-day loans. If the principal only payment is less than the scheduled monthly payment amount, a system edit will indicate that a partial payment is not allowed. Principal-only payments are allowed if the principal payment is equal to or greater than the scheduled monthly payment amount. Use caution when applying principal-only payments to 360-day loans. Interest is NOT calculated and stored when the principal payment is applied; therefore, when the next regular payment is applied, interest is calculated on the lower balance causing your credit union to lose some interest income.
Prepaid Amount	The amount of any finance charges or fees on this loan. This amount is included when calculating the loan's APR. The prepaid finance charges can equal or exceed zero. Length: 12 numeric including decimal Keyword: OF
Residual Amount	The final amount to be paid on the residual loan. The final payment is due on the date specified in the Final Date field the Residual Payment Information dialog box. Length: 12 numeric including decimal Keyword: RS
FCCBNC	The amount of finance charges calculated, but not collected. FCCBNC is updated when a loan advance or rate change is completed. Length: 8 numeric including decimal Keyword: FC
Secondary Rate	The secondary rate used when calculating the interest due on split interest loans. The secondary rate is used on the principal loan balance in excess of the primary range. The interest rate can be equal to or greater than zero, but must be less than 36.500. Any change to this field can impact loan calculations or delinquency. This field is required if the Primary Range field is greater than zero. Length: 6 numeric including decimal Keyword: 2R
Primary Range	The amount of the principal loan balance that the primary interest rate applies to. This amount is used to calculate interest due on split interest loans. The primary range can be zero through 999. The Primary Range field is whole dollars expressed in hundreds. If greater than zero, the Secondary field must be entered. Length: 3 numeric expressed in hundreds (e.g. 005 = $500.00) Keyword: P1 or BP
Amortization Term	The number of payments required to pay off the loan at the regular payment amount, without a residual (balloon) payment. The Amortization Term field must be greater than the Number of Payments field. If the terms are being recalculated on an existing loan, Portico will not automatically display a value in the Amortization Term field. You must re-enter the number of payments in this field. The valid value may range from zero through 999 Length: 3 numeric Keyword: AT

Skip Payment

Whether you use standard Skip Payment processing or Enhanced Skip Payment processing, you can add a single skip payment record when adding a new loan. Loan calculations will be based on skip date and skip counter, whether it is a recurring or one-time skip. Credit unions using Enhanced Skip Payment processing can add multiple skip payment records on the Truth In Lending Calculator dialog box accessed from the Activity menu. If you are calculating the payment amount for a loan with skip payment records, the actual loan term is extended; however, skipped payments are not counted in the number of payments. The number of payments entered is the number of actual payments applied to the loan. For example, a loan with 2 skip payments scheduled will have a loan term of 74 months, but only 72 actual payments will be made.

Complete the following fields in the Skip Information group box to set up a recurring or one-time skip payment.

Field	Description
Recurring	Select this check box if the skip payment is recurring. Credit unions using Enhanced Skip Payment processing can add multiple skip payment records on the Truth In Lending Calculator dialog box accessed from the Activity menu. Keyword: SR
Count	Click the down arrow to select the number of payments that will be skipped. This advancement occurs when the next payment due date equals or exceeds the skip date. The loan skip counter can range from zero through 99. The maximum number of skips is based on the loan payment frequency. The guidelines are: 0 - Term: 00 (no skips allowed) 1 - Weekly: 51 maximum skips 3 - Bi-weekly: 25 maximum skips 5 - Semi-monthly: 23 maximum skips 6 - Semi-annually: 01 maximum skips 7 - Monthly: 11 maximum skips 8 - Annually: 00 (no skips allowed) 9 - Quarterly: 03 maximum skips Skip payments are not valid for a loan with an associated escrow account. Credit unions using Enhanced Skip Payment processing can add multiple skip payment records on the Truth In Lending Calculator dialog box accessed from the Activity menu. Keyword: SC
Date	The date the system will begin to skip payments. Click the down arrow to select a date from the pop-up calendar or enter the date in MM/DD/YYYY format. The next payment due date will be advanced by the number of payments in the skip counter when a loan payment advances the due date to or after this date. For example, to skip the December 15 payment: If the November payment has not been posted, then enter the skip date of 1215. If the November payment has already been posted, the due date field is changed to January 15. The skip date cannot be in the past or 02/29 of any year. The skip date automatically advances one year when the due date is advanced and the Recurring check box is selected. The skip date and skip counter will automatically be reset to zeros when the due date is advanced and the Recurring check box is not selected. The due date is not advanced by the number of skips if the loan is delinquent at the time of payment. The due date will be advanced by the number of skips once the loan becomes current. Changes to this field can impact delinquency calculations, proceed with caution. Skip payments are not valid for a loan with an associated escrow account. Credit unions using Enhanced Skip Payment processing can add multiple skip payment records on the Truth In Lending Calculator dialog box accessed from the Activity menu. Keyword: SK

Field

Description

Recurring

Select this check box if the skip payment is recurring. Credit unions using Enhanced Skip Payment processing can add multiple skip payment records on the Truth In Lending Calculator dialog box accessed from the Activity menu.

Keyword: SR

Count

Click the down arrow to select the number of payments that will be skipped. This advancement occurs when the next payment due date equals or exceeds the skip date.

The loan skip counter can range from zero through 99. The maximum number of skips is based on the loan payment frequency. The guidelines are:

0 - Term: 00 (no skips allowed)

1 - Weekly: 51 maximum skips

3 - Bi-weekly: 25 maximum skips

5 - Semi-monthly: 23 maximum skips

6 - Semi-annually: 01 maximum skips

7 - Monthly: 11 maximum skips

8 - Annually: 00 (no skips allowed)

9 - Quarterly: 03 maximum skips

Skip payments are not valid for a loan with an associated escrow account.

Credit unions using Enhanced Skip Payment processing can add multiple skip payment records on the Truth In Lending Calculator dialog box accessed from the Activity menu.

Keyword: SC

Date

The date the system will begin to skip payments. Click the down arrow to select a date from the pop-up calendar or enter the date in MM/DD/YYYY format.

The next payment due date will be advanced by the number of payments in the skip counter when a loan payment advances the due date to or after this date.

For example, to skip the December 15 payment: If the November payment has not been posted, then enter the skip date of 1215. If the November payment has already been posted, the due date field is changed to January 15.

The skip date cannot be in the past or 02/29 of any year. The skip date automatically advances one year when the due date is advanced and the Recurring check box is selected. The skip date and skip counter will automatically be reset to zeros when the due date is advanced and the Recurring check box is not selected.

The due date is not advanced by the number of skips if the loan is delinquent at the time of payment. The due date will be advanced by the number of skips once the loan becomes current.

Changes to this field can impact delinquency calculations, proceed with caution.

Skip payments are not valid for a loan with an associated escrow account.

Credit unions using Enhanced Skip Payment processing can add multiple skip payment records on the Truth In Lending Calculator dialog box accessed from the Activity menu.

Keyword: SK

Insurance

If desired, select credit disability insurance (CDI) and/or credit life insurance (CLI) coverage. The system uses the rates specified in the report rules for the following reports:

Monthly Renewable Credit Disability Insurance Report 130
Member Pay Loan Protection Insurance Report 485

For credit disability insurance (CDI) coverage, complete the following fields:

Field	Description
CDI Option	Click the down arrow to indicate if credit disability insurance (CDI) premiums should be included in the Truth in Lending calculation. The valid options are: N - Do not include CDI premiums in the calculation. System default. Y - Include CDI premiums in the calculation. The premium will be based on the level rate specified in the LEVEL RATE $ PER $100 field on the 130 Report Rules, or on the rate table specified in the RATE TABLE ID field on the report rules. The MRCDI SUPPORTED field on the 130 Report Rules must specify Y. O - Wants CDI on the loan. The loan is an open-end loan, and the premium will be based on the level rate specified in the LEVEL RATE $ PER $100 field on the 130 Report Rules. The MRCDI SUPPORTED field on the 130 Report Rules must specify B. C - Wants CDI on the loan. The loan is a closed-end loan, and the premium will be based on the rate table specified in the RATE TABLE ID field on the 130 Report Rules. The MRCDI SUPPORTED field on the 130 Report Rules must specify B. If you select Y, O, or C, you must also complete the CDI Premium Payment Method field. The system does not support loan add-on insurance on loans with 360 day interest. The Regulation Z disclosure includes insurance calculations. Keyword: MD
CDI Coverage Level	Click the down arrow to select the rate the system should use when calculating credit disability insurance (CDI) premiums. The rates appear on the 130 Report Rules. The valid options are: J - Joint CDI coverage. Use the joint rate. S - Single CDI coverage for the owner of the loan. Use the single rate. C - Single CDI coverage for the co-borrower of the loan. Use the single rate. Blank - CDI was not selected. System default. Keyword: LJ
CDI Premium Payment Method	Click the down arrow to indicate how the member will pay the credit disability insurance (CDI) premium. The CDI Option field must specify Y, O, or C. The valid options are: L - Pay CDI premium by loan add-on. This option is not valid for loans with 360 day interest. The amount of the premium is added to the member's loan for which the premium is calculated. The member’s loan is debited and the accounts payable GL (801900) is credited. Interest due on the loan which must be determined for premium calculation, is added to the Finance Charges Calculated But Not Collected (FCCBNC) field on the Loans - Interest/Charges tab. The interest paid-to-date is advanced to the current business date. If a loan is delinquent, the loan add-on will still be allowed. The credit union is responsible for stopping a member's coverage if a loan is delinquent. S - Pay CDI premium by share withdrawal. The amount of the premium is withdrawn from the member's lowest numbered share account. The member’s share account is debited and the accounts payable GL (801900) is credited. If the member's available share balance is less than the amount required for premium payment, the calculated premium appears on the 130 Report with a message indicating the premium was uncollectible from the share account. Portico will not attempt to obtain the funds from any other share accounts. Blank - CDI was not selected. Keyword: DS
CDI Owner Birth Date	The birth date of the owner of the loan. Click the down arrow to select the date from the pop-up calendar or enter the date in MM/DD/YYYY format. The date must be entered to calculate CDI insurance in all cases except for single co-borrower coverage. When viewing an existing loan with CDI insurance, the birth date will automatically display in the field when required. Portico masks birthdates. You can click inside the field to show the birthdate. When you tab out of the field, the birthdate is masked. The birthdate will remain unmasked as long as the field has focus. Portico logs each time a user clicks inside a field to view a birthdate in the View Sensitive Data Audit report. If joint insurance is selected and neither borrower is the owner of the loan, then the CDI Owner Birth Date field must be used if Joint to Single to None (J/S/N) coverage is not selected. If Joint to Single to None coverage is selected and neither borrower is the owner of the loan, then the CDI Owner Birth Date field and CDI Co-Borrower Birth Date field must contain valid dates. Keyword: DB
CDI Co-Borrower Birth Date	The birth date of the co-borrower on the loan. Click the down arrow to select the date from the pop-up calendar or enter the date in MM/DD/YYYY format. The date must be entered to calculate insurance when the CDI Coverage Level field is Single-Co-Borrower, or when the CDI Joint to Single to None check box is selected. When viewing an existing loan with CDI insurance, the co-borrower birth date will automatically display in the field when required. Portico masks birthdates. You can click inside the field to show the birthdate. When you tab out of the field, the birthdate is masked. The birthdate will remain unmasked as long as the field has focus. Portico logs each time a user clicks inside a field to view a birthdate in the View Sensitive Data Audit report. If joint insurance is selected and neither borrower is the owner of the loan, then the CDI Owner Birth Date field must be used if Joint to Single to None (J/S/N) coverage is not selected. If Joint to Single to None coverage is selected and neither borrower is the owner of the loan, then the CDI Owner Birth Date field and CDI Co-Borrower Birth Date fields must contain valid dates. Keyword: JD
CDI Joint to Single to None	Select this check box to elect joint to single to none insurance coverage on the loan. When one of the borrowers has reached the maximum age, the coverage will automatically change to single coverage. If the second borrower reaches the maximum age before coverage is completed, then premiums are no longer calculated and posted. If not selected, when the owner of the loan reaches maximum age, coverage is no longer calculated and posted. For loans with a Credit Disability Coverage Option field of T, V, or W, the system will no longer calculate and post premiums when the first borrower flagged on the Loan - Borrowers/References tab reaches maximum age. Keyword: CF
CDI Election Date	The date that credit disability insurance was elected on the loan. For “what if” calculations where credit disability insurance has been elected, Portico will use the effective date from the Basic Calculation group box as the election date. If credit disability insurance is not elected, the date will be blank. For existing loans, the Election Date field will display the date in the Coverage Elected field on the Loans – Insurance tab.
Truncated Coverage	Indicates how credit disability insurance will be determined and calculated when elected for closed end loans. For “what if” calculations where credit disability insurance has been elected, Portico will automatically select the check box based on the Support Truncated Coverage for Level Rate Insurance check box on the Credit Union Profile - Loans tab. For existing loans, the Truncated Coverage check box will display the option that corresponds with the value from the Truncated Coverage Processing field on the on the Loans – Insurance tab. The valid values for the tri-state check box are: Blank: No insurance has been elected. (System default for loans with no insurance elected.) Unchecked: For the level rate credit disability insurance, maximum months insured and maximum duration term are not supported. For closed-end loans, the level rate credit disability insurance premium calculation will not consider maximum months insured, nor maximum duration term. Checked: Both maximum months insured and maximum duration term is supported. For closed-end loans, level rate credit disability insurance eligibility and premium calculation will consider maximum months insured and maximum duration term.

For credit life insurance (CLI) coverage, complete the following fields:

Field	Description
CLI Loan Type	The loan type from which to extract the credit life insurance (CLI) contract number. The contract number appears in the Contract field on the Loan Profiles - Additional Information tab. If this field is left blank, CLI insurance premiums will not be included in the Truth in Lending calculation. Keyword: LT
CLI Coverage Level	Click the down arrow to select the rate the system should use when calculating credit life insurance (CLI) premiums. The rates appear on the 485 Report Rules. The CLI Loan Type field must contain a valid value. The valid options are: J - Joint CLI coverage. Use the joint rate. S - Single CLI coverage for the owner of the loan. Use the single rate. C - Single CLI coverage for the co-borrower of the loan. Use the single rate. Blank - CLI was not selected. System default. Keyword: SJ
CLI Premium Payment Method	Click the down arrow to indicate how the member will pay the credit life insurance (CLI) premium. The CLI Loan Type field must contain a valid value. The valid options are: L - Pay CLI premium by loan add-on. This option is not valid for loans with 360 day interest. The amount of the premium is added to the member's loan for which the premium is calculated. The member’s loan is debited and the accounts payable GL (801910) is credited. If a loan is delinquent, the loan add-on will still be allowed. The credit union is responsible for stopping a member's coverage if a loan is delinquent. S - Pay CLI premium by share withdrawal. The amount of the premium is withdrawn from the member's lowest numbered share account. The member’s share account is debited and the accounts payable GL (801910) is credited. If the member's available share balance is less than the amount required for premium payment, the calculated premium appears on the 485 Report with a message indicating the premium was uncollectible from the share account. Portico will not attempt to obtain the funds from any other share accounts. Blank - CLI was not selected. Keyword: LS
CLI Owner Birth Date	The birth date of the owner of the loan. Click the down arrow to select the date from the pop-up calendar or enter the date in MM/DD/YYYY format. The date must be entered to calculate CLI insurance in all cases except for single co-borrower coverage. When viewing an existing loan with CLI insurance, the birth date will automatically display in the field when required. Portico masks birthdates. You can click inside the field to show the birthdate. When you tab out of the field, the birthdate is masked. The birthdate will remain unmasked as long as the field has focus. Portico logs each time a user clicks inside a field to view a birthdate in the View Sensitive Data Audit report. If joint insurance is selected and neither borrower is the owner of the loan, then the CLI Owner Birth Date field must be used if Joint to Single to None (J/S/N) coverage is not selected. If Joint to Single to None coverage is selected and neither borrower is the owner of the loan, then the CLI Owner Birth Date field and CDI Co-Borrower Birth Date field must contain valid dates. Keyword: DO
CLI Co-Borrower Birth Date	The birth date of the co-borrower on the loan. Click the down arrow to select the date from the pop-up calendar or enter the date in MM/DD/YYYY format. The date must be entered to calculate insurance when the CLI Coverage Level field is Single-Co-Borrower, or when the CLI Joint to Single to None check box is selected. When viewing an existing loan with CLI insurance, the co-borrower birth date will automatically display in the field when required. Portico masks birthdates. You can click inside the field to show the birthdate. When you tab out of the field, the birthdate is masked. The birthdate will remain unmasked as long as the field has focus. Portico logs each time a user clicks inside a field to view a birthdate in the View Sensitive Data Audit report. If joint insurance is selected and neither borrower is the owner of the loan, then the CLI Owner Birth Date field must be used if Joint to Single to None (J/S/N) coverage is not selected. If Joint to Single to None coverage is selected and neither borrower is the owner of the loan, then the CLI Owner Birth Date field and CDI Co-Borrower Birth Date field must contain valid dates. Keyword: DJ
CLI Joint to Single to None	Select this check box to elect joint to single to none insurance coverage on the loan. When one of the borrowers has reached the maximum age, the coverage will automatically change to single coverage. If the second borrower reaches the maximum age before coverage is completed, then premiums are no longer calculated and posted. If not selected, when the owner of the loan reaches the maximum age, coverage is no longer calculated and posted. For loans with a Credit Life Coverage Type field of G or H, the system will no longer calculate and post premiums when the first borrower flagged on the Loan - Borrowers/References tab reaches maximum age. Keyword: LF
CLI Election Date	The date that credit life insurance was elected on the loan. For “what if” calculations where credit life insurance has been elected, Portico will use the effective date from the Basic Calculation group box as the election date. If credit life insurance is not elected, the date will be blank. For existing loans, the Election Date field will display the date in the Coverage Elected field on the Loans – Insurance tab.
Truncated Coverage	Indicates how credit life insurance will be determined and calculated when elected for closed end loans. For “what if” calculations where credit life insurance has been elected, Portico will automatically select the check box based on the Support Truncated Coverage for Level Rate Insurance check box on the Credit Union Profile - Loans tab. For existing loans, the Truncated Coverage check box will display the option that corresponds with the value from the Truncated Coverage Processing field on the on the Loans – Insurance tab. The valid values for the tri-state check box are: Blank: No insurance has been elected. (System default for loans with no insurance elected.) Unchecked: For the level rate credit life insurance, only maximum months insured is supported on the loan. Maximum duration term is not supported. For closed-end loans, the level rate credit life insurance premium calculation will consider maximum months insured, but insurance eligibility will not consider maximum duration term. Checked: Both maximum months insured and maximum duration term is supported. For closed-end loans, level rate credit life insurance eligibility and premium calculation will consider maximum months insured and maximum duration term.

Click Calculate to calculate Truth in Lending. Click Reset to clear the fields and re-calculate Truth in Lending.

The Calculation Results group box displays the following information:


Loan Balance Results	The principal amount due on the loan. The loan balance may be zero through $999,999,999.99. This field is calculated by the system and is not maintainable. Length: 12 numeric including decimal
Prepaid Amount Results	The total amount of any finance charges or fees. This amount is included in the calculation of the loan's APR. The prepaid finance charges can equal or exceed zero. This field is calculated by the system and is not maintainable. Length: 12 numeric including decimal
Amount Requested	The amount to be given to the member. This amount is the difference between the loan balance and prepaid amount. This field is calculated by the system and not maintainable. Length: 12 numeric including decimal
Type of Calculation	The type of Truth in Lending calculation: A1 - Installment loan where the loan balance and number of payments are given and the payment amount is calculated. A2 - Installment loan where the loan balance and payment amount are given and the number of payments is calculated. A3 - Installment loan where the payment amount and number of payments are given and the loan balance is calculated. B1 - Single-payment loan where the loan balance is given and the payment amount is calculated. B2 - Single-payment loan where the payment amount is given and the loan balance is calculated. C1 - Residual (balloon) payment loan where the loan balance, amortization term, and number of payments are given and the payment amount and residual amount are calculated. C2 - Residual (balloon) payment loan where the loan balance, number of payments, and residual amount are given and the payment amount is calculated. C4 - Residual (balloon) payment loan where the payment amount, amortization term, and number of payments are given and the loan balance and residual amount are calculated. C5 - Residual (balloon) payment loan where the loan balance, payment amount, and number of payments are given and the residual amount is calculated. The value in this field is determined by the system and is not maintainable.
Total CDI	The total amount of credit disability insurance (CDI) premiums that will be paid during the life of the loan. This field is calculated by the system and is not maintainable. Length: 14 numeric including decimal
Total CLI	The total amount of credit life insurance (CLI) premiums that will be paid during the life of the loan. This field is calculated by the system and is not maintainable. Length: 14 numeric including decimal
Total Interest	The total amount of interest to be paid on the loan. This amount includes the interest due plus any finance charges entered in the Prepaid Amount field. This field is calculated by the system and is not maintainable. Length: 14 numeric including decimal
Total Repay	The total amount to be repaid on the loan. This amount includes principal, interest, pre-paid finance charges and any insurance premiums. This field is calculated by the system and is not maintainable. Length: 14 numeric including decimal
Annualized Rate	The annualized interest rate used to calculate the actual cost of borrowing money. This amount includes any finance charges entered in the Prepaid Amount field. If the Flat Payment check box is checked, this field will display 00.000. This field is calculated by the system and is not maintainable. Length: 6 numeric including decimal
Final Payment Amount	The final loan payment amount. This amount will transfer to the Residual Payment Information dialog box as the final payment amount on a residual loan. This field is calculated by the system and is not maintainable. Length: 12 numeric including decimal
Final Payment Date	The date the final payment on the loan is due. This date will transfer to the Residual Payment Information dialog box as the final payment date on a residual loan. This field is calculated by the system and is not maintainable.