Major changes or additions to the FFIEC Federal Disclosure Computational Tool: (most recent first)

December 15, 2022

• The following functionality has been updated:
• A user may now enter the bank-disclosed Total of Payments (TOP), which is a regulatory requirement, so the user can compare the bank-disclosed amount to the amount calculated by the tool.
• A clear/cancel button has been added to allow the user to remove the account information previously added for the loan, in order to improve the user experience.
• The tool now assists the user with data entry by highlighting or notifying the user of potential data entry errors for scenarios related to:
• Entering a negative number for Amount Financed; and
• Entering a negative number for Amount Financed and a positive payment stream.

June 3, 2021

• The following functionality has been updated:
• For all loans, the business logic was removed for the “Actual Days (365/365)” interest accrual option and “Actual Days” payment frequency that prevented a user from entering a date range that resulted in equal months.
• For all loans, the formula for the number of odd days during a leap year was updated.
• For all loans, the loan results page will now display the label “Whole Months (360/365)” instead of “Actual Days (360/365)” when the Interest Accrual Type is “Whole Months (360/365).”
• For single advance/single payment construction loans, the Actual Days Between First and Last Dates field in the calendar dialogue window for the Construction Interest was updated.