Changing the Interest Rate in Servicing Director

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• Interest Methods Supported in Servicing Director.

  The following interest methods are supported in Servicing Director. Arrears—Standard Interest that is applied in arrears pays the interest for the previous month. For example, a payment due on 6/1/99 pays the interest up to 6/1/99 when the payment is ...

• Servicing Director Supported Interest Accrual Methods

  Servicing Director provides for several different interest accrual methods. Interest Methods are assigned at the loan level. These methods are: Arrears Interest that is applied in arrears pays the interest for the previous month. For example, a ...

• Default Interest

  Default loans calculate and accrue a default interest amount separate from the normal accrued interest amount. This default interest can be calculated on unpaid principal balance, total payment, partial payments, and unpaid principal portion of the ...

• Interest Accrual Methodology

  Interest Accrual Methodology- the calculation of the actual daily interest accrual amount is determined by the interest method assigned to the loan. Calculations will be done systematically as follows. Arrears Interest Method: Calculations is unpaid ...

• Setting up Interest Methods, Interest Days, and Principal and Interest

  When you want to set up payments for a loan, the payment records have to be set up with a valid combination of the fields Interest Method, Interest Days, and Principal and Interest Type. These fields are interdependent. System field validation ...