What Does the HELOC No Balance Due Date Roll Update Do?

What Does the HELOC No Balance Due Date Roll Update Do?

The Update advances the Due date on active HELOC loans in the draw period where the principal balance and the accrued interest amounts are zero and the transaction post date is greater then or equal to the loan due date.  The purpose if this update is to assure that HELOC loans that have not yet taken a draw, or have taken draws and repaid the principal, do not appear as delinquent loans while the payment amount is zero.


Environment:

Servicing Director Event Manager

ArticleNumber:

000054628

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