Major changes or additions to the FFIEC Federal Disclosure Computational Tool for 2021: (most recent first)
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.
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Last Modified: 06/08/2021 3:00 PM