1. Cash Flow Engine Reference Guide
  2. Cash Flow Dictionary
  3. Cash Flow Columns
  4. Current Payment (CUR_PAYMENT)
  5. Data Verification Requirements and Suggested Defaults

8.2.38.3 Data Verification Requirements and Suggested Defaults

  • If AMRT_TYPE_CD = 100, 400, 500, 600, 710, 800, 840 or is a conventionally-amortizing payment pattern, CUR_PAYMENT should include principal and interest.
  • If AMRT_TYPE_CD = 820, 801 or is a level Principal-Amortizing payment pattern, CUR_PAYMENT should include principal only.
  • If AMRT_TYPE_CD = 700, 802, 850 or is a simple interest-amortizing payment pattern, CUR_PAYMENT can be 0.
  • For AMRT_TYPE_CD <> Simple Interest AMRT_TYPE_CDs, CUR_PAYMENT must have the same sign as CUR_BOOK_BAL.
  • CUR_PAYMENT must be the same sign as the CUR_BOOK_BAL and CUR_ PAR_BAL fields.
  • If AMRT_TYPE_CD = 600 (Negative Amortization) and PMT_DECR_LF <> 0, CUR_PAYMENT should be greater than or equal to ORG_PAYMENT_AMT * (1 - PMT_DECR_LF/100).
  • If AMRT_TYPE_CD = 600 (Negative Amortization) and PMT_ INCR_LF <> 0, CUR_PAYMENT should be less than or equal to ORG_PAYMENT_AMT * (1 + PMT_INCR_LF/100).
  • CUR_PAYMENT can be validated by performing the following calculations:
  • For conventionally amortizing and Rule of 78s: CUR_PAYMENT = (CUR_BOOK_BAL* (CUR_GROSS_ RATE/((12/PMT_FREQ[in months]) *100))) / (1 - ((1+(CUR_GROSS_ RATE /((12/ PMT_FREQ [in months])*100))) ^-(REMAIN_NO_PMTS_ C)))
  • For leases: [(CUR_PAR_BAL x (1+r)^n) - RESIDUAL_AMOUNT] x [r/((1+r)^n -1)]
  • For fixed-rate accounts: CUR_PAYMENT = (ORG_BOOK_BAL* (CUR_GROSS_ RATE/((12/PMT_FREQ[in months]) *100))) / (1 - ((1+(CUR_GROSS_ RATE /((12/ PMT_FREQ [in months])*100))) ^-(ORG_TERM/PMT_ FREQ [in months])))
  • For Level Principal records: CUR_PAYMENT = CUR_BOOK_BAL / REMAIN_NO_PMTS_C
  • For Annuities: CUR_PAYMENT = (MATURITY_AMOUNT – CUR_PAR_BAL) / REMAIN_NO_PMTS_C
  • For fixed-rate accounts level principal records, the following should also be true: CUR_PAYMENT = ORG_BOOK_BAL/ (ORG_TERM/ PMT_FREQ [in months])
  • For balloon records, the calculated remaining number of payments in the amortization term (CRPAT) must be calculated first. This is demonstrated in the Remaining Number of Payments (REMAIN_NO_PMTS_C) section. The following calculation is used:

    CUR_PAYMENT = (CUR_BOOK_BAL* (CUR_GROSS RATE/((12/PMT_FREQ[in months]) *100))) / (1 - ((1+(CUR_GROSS_ RATE /((12/ PMT_FREQ [in months])*100))) ^-(CRPAT)))

  • For fixed-rate accounts, the following should be true:

    CUR_PAYMENT = (ORG_BOOK_BAL* (CUR_GROSS_ RATE/((12/PMT_FREQ[in months]) *100))) / (1 - ((1+(CUR_GROSS_ RATE /((12/ PMT_FREQ [in months])*100))) ^-(AMRT_TERM/PMT_ FREQ [in months])))