Adjustable Rate Pending Adjustment Error
Results of the Amortization would cause a zero or negative ending principal balance.
Root Cause:
This could be because the maturity date is with in a year (12 months), and the remaining principal balance is low.
Environment:
Adjustable Rate Mortgage
Workaround:
Delete the Pending Adjustment In the Pending Adjustment screen via the ARM application
- Customer Service select Dates,
- Move the First Payment date to a year later (temporarily)
Manually calculate this ARM to do this go to the - ARM application
- select Other then select Calculate ARM
- enter the index rate for the loan.
- Calculate
If you no longer have an error message let your end of day run, this should produce a ARM letter.
For further assistance please contact Support.
ArticleNumber:
000043182