Payment Change Records When the Final Proof of Claim is Selected

Payment Change Records When the Final Proof of Claim is Selected

Here is what the Final (P_BankruptcyPOC_Final) does in regards to PaymentChange records.  
These steps only occur when the first Final is run. If you amend the POC, these steps do not get rerun. 
  1. All payment change table records for the loan are inserted into BankruptcyPaymentChange; this preserves this information and it may be viewed on the Proof Of Claim. Select the screen by clicking the Pmt Chg button. No process has been written at this time to restore these records should you need to roll back the Final.
  2. The escrow payment amount on the last PaymentChange record is saved to a variable field.
  3. The Loan.EscrowPmt is set to $0.00
  4. The PaymentChange.EscrowPmt is set to 0 for all PaymentChange records for the loan where the DueDate is less than the file date.
  5. A record is then inserted into the PaymentChange table with the due date immediately after the file date; if one exists, it is updated. The EscrowPmt amount is set to the saved amount from step 2. 
The escrow payment during pre-petition is set to $0.00 as all escrow that is due in prepetition is captured in the Escrow Deficiency and Escrow Shortage elements in the Bankruptcy POC Details.
 
For example, assume the following given a file date of 1/1/2018 and a loan due date of 7/1/2017: 
 
PC Due Dates InitialPC Escrow Pmt InitialPC Due Date after Final POCPC Escrow Pmt after Final POCComment
4/1/20171004/1/20170Updated. All PC records prior to file date have escrow pmt set to 0.
8/1/20171108/1/20170Updated. Same as above.
  2/1/2018110Inserted. First payment due after file date. Calculated by Post-pet Esc Analysis.
4/1/20181204/1/2018120No change.
 
Important Note: For arrearage claims you should have a Post-Petition Escrow Analysis that was run by the POC Calculation. You should finalize that analysis as this is a manual step. That will again change the EscrowPmt on the PaymentChange record (and all future records – in this case both the 2/1/2018 and 4/1/2018 due dates) to the new analysis amount.

Environment:

Bankruptcy

ArticleNumber:

000054345

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