Contents - Index

Accounts: Loan - Overall

This is used to control the main loan settings for the deal.

This shows how ALMSys internally disburses payments received. The loan payoff, as of the End Date calendar, is shown in green in the Ending column.

Information conveyed on this screen is controlled by the starting and ending calendars. All balance and distribution information will be shown for the date range provided by these calendars. When changing the calendars, always press the Calculate button to obtain the new results.

The total payments received for the date range are shown under the Period Paid heading in the middle of the screen. The distribution breakdown is also in this same box.

Based on the payment activity, the beginning and ending balances are shown on the left. Balance is calculated as Principal plus Interest plus oustanding Non-Capitalized costs (such as due on delivery items).

The last fully paid information is shown.

The = button above the End Date calendar will set the End Date equal to the Start Date. It will also recalculate the screen when pressed.

Interest Rate
This page is used to change the interest rate on a loan. This is available for active loans only. Rates may be changed for an effective date after the last payment made date. If the effective date is on or before the last scheduled payment for the loan, a new payment will be calculated for the remaining scheduled payment(s). This new payment is calculated from the amortization schedule's beginning principal balance for the first scheduled payment at or after the new rate's effective date, the current end value (normally zero), the remaining term (# of payments), and the new interest rate.

If you do not want the payment amount to be recalculated, then check the Do NOT recaclulate payment amount. Only change rate. box. (If the deal has a special amortization schedule, then this is your only option for a rate change.)

The current interest rate information is displayed at the top of the screen. After that, you will see one of two panels, depending on whether a rate change is pending.

Pending Panel
If an interest rate effective date has not yet arrived, then you will see this panel. You have the ability to delete (abort) a rate change, right up to the day before the change becomes effective. Once it becomes effective, it cannot be deleted.

Pending rate changes cannot be changed. If the pending rate or effective date needs to be changed, you must delete the pending change and then add a new rate change with the correct information.

New Rate Details Panel
This panel will display when there are no pending interest rates changes. To add an interest rate change:

1. Select the effective date for the change. Tomorrow's date will be defaulted in the field.

2. Provide the new rate. For example, a rate of 12.125% would be entered as 12.125. The rate must be from 0 to 999.99999.

3. Provide a reason for the change. This is not required, but recommended.

4. If you do not want the payment recalculated, then check the Do NOT recaclulate payment amount. Only change rate. box. 

5. Click the add the new rate button.

Whenever a rate is added or deleted, information regarding the change is added to the contact history for the deal.

Ledger Activity
This shows what ALMSys would export as ledger journal entries, based on the current values. 

Select the start date, the end date, and then click the Show Results button. Two grids will appear: one for detail entries and one that summarizes by ledger account. Tallies are shown at the bottom of the detail grid. If the Sum is not zero, then most likely you do not have ledger accounts assigned properly.