How to Calculate Amortization Schedules

Use the What If Amortization screen to calculate amortization schedules. You can change amortization parameters and then calculate the corresponding values, including loan balance, maturity date, and P&I payment. Calculations are not saved in the database.
To access the What If Amortization Screen

Access the Customer Service application
Select other
Select what if Amortization

You can change amortization parameters and then calculate the corresponding values, including loan balance, maturity date, and P&I payment. Calculations are not saved in the database. The initial values in the fields are for the selected loan.

To change and view loan scenarios:

Access the Customer Service application
Select other
select what if Amortization
Select a parameter from the Calculate drop down list, under the Amortization Parameters
Change the amount, frequency, or both under Optional Curtailment (optional)
Select one or more of the following under Loan Data:

Interest method
Payment method
Due date

Select Calculate. Servicing Director calculates the P&I payment, maturity date, or balance
Select Am schedule to view a revised amortization schedule
Select clear to clear the loan's specific amounts and dates. The system adds a Due Date that is the next, first day of the month based on the user's computer system date and a Maturity Date that equals the Due Date + 30 years.
Select reset to restore the values for the selected loan
Select close

ArticleNumber:

000049601