Appendix A - Merge Field Descriptions (Loans) > Event 27, Loan Balloon Payment Letter

This letter will print when there is a "1" in the Action Code field on the Letters & Actions tab, and the date of the action code is today’s date. Action code 1 stops all activity on the loan. This letter can be generated from 1 to 99 days before the balloon date. You must inform FPS GOLD of the number of days (01–99) prior to the balloon date the letters should be generated.

➢ FPS GOLD Only: Miscellaneous Parameters 1-2 store the number of days prior to the balloon date to create the letter.

➢FPS GOLD Only: If the first two digits of the Miscellaneous Parameters field are left blank, the balloon letter will generate on the balloon date.

Merge Field	Field Mnemonic/ Calculation	Description
ROUND RATE E T Q	LNRRND	Round rate to the eighth, tenth, or quarter.
TOTAL DUE AT BALLOON DATE	LETT01	Total amount due at balloon date. (Amortizes payments to balloon date. Also adds late charges, fees, subsidies, and negative interest, then subtracts escrow/reserve balance. Accrues interest to the balloon date. Payment method 5 loans include the current and prior finance charges. Note: When the payments are amortized, the system makes pseudo-payments so the principal balance used is the amortized balance instead of the current principal balance.

Merge Field

Field Mnemonic/ Calculation

Description

ROUND RATE E T Q

LNRRND

Round rate to the eighth, tenth, or quarter.

TOTAL DUE AT BALLOON DATE

LETT01

Total amount due at balloon date. (Amortizes payments to balloon date. Also adds late charges, fees, subsidies, and negative interest, then subtracts escrow/reserve balance. Accrues interest to the balloon date.

Payment method 5 loans include the current and prior finance charges.

Note: When the payments are amortized, the system makes pseudo-payments so the principal balance used is the amortized balance instead of the current principal balance.