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

8.2.91.3 Data Verification Requirements and Suggested Defaults

Required Conditions:

NEXT_PAYMENT_DATE > AS_OF_DATE

Also included in NEXT_PAYMENT_DATE is the modeling of past due, delinquent, or non-term accounts if they are to be processed by the Cash Flow Engine.

For example, if the NEXT_PAYMENT_DATE defaults to 01-JAN-1900, the cash flow engine rolls the record by PMT_FREQ from that date until the maturity date.

NEXT_PAYMENT_DATE <= MATURITY_DATE

If REMAIN_NO_PMTS_C > 1, NEXT_PAYMENT_DATE < MATURITY_DATE

If REMAIN_NO_PMTS_C = 1, NEXT_PAYMENT_DATE = MATURITY_DATE

MATURITY_DATE <= NEXT_PAYMENT_DATE + (REMAIN_NO_PMTS_C * PMT_FREQ)

If the amortization type is an absolute pattern or payment schedule, the payment dates are predefined. The NEXT_PAYMENT_DATE on the detail record should always correspond to the relevant (next payment date after the AS_OF_DATE) predefined payment date information of the Absolute Pattern interface or PAYMENT_SCHEDULE table.

Suggested Default:

If the next payment date is unknown, set to either:

AS_OF_DATE + PMT_FREQ,

OR

NOTE MATURITY_DATE