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#1668481 - 02/22/12 09:01 PM Laser Pro, Silverlake and Reimbursement
J Hunt Offline
100 Club
Joined: Feb 2002
Posts: 132
Phoenix, AZ
Below is the reimbursement based on APRWIN.
When trying to generate a new amort schedule to provide the borrower, we cannot get to same adjusted payment amount.
Does anyone have guidance they can provide on how to get Laser Pro and Silverlake to come up with the same payment schedule?
We are providing lump sum payment to borrower of $30.21 and need to adjust the remaining 34 payments to $395.32 each.
Thanks!

Adjusted APR = 8.625% APR Adjustment as of Final Payment Date = ($615.90)
Original Payment Amount = $417.37 Adjusted Payment Amount = $395.32 # of payments = 36
Lump Sum/Payment Reduction Method: Payments 1&2 = ($30.21)
Lump Sum Method: Payments 1-36 = ($482.79)

Finance Charge Adjustement = ($473.33)

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#1668589 - 02/22/12 11:17 PM Re: Laser Pro, Silverlake and Reimbursement J Hunt
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,912
Galveston, TX
Why would you need LaserPro to recreate this calculation?
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1668590 - 02/22/12 11:06 PM Re: Laser Pro, Silverlake and Reimbursement rlcarey
J Hunt Offline
100 Club
Joined: Feb 2002
Posts: 132
Phoenix, AZ
We were working on generating a revised amort schedule, which would be generated from Laser Pro.
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#1668624 - 02/23/12 12:52 AM Re: Laser Pro, Silverlake and Reimbursement J Hunt
Richard Insley Offline
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Richard Insley
Joined: Oct 2000
Posts: 10,082
Toano, VA
When you do a LS/PR reimbursement on a simple interest loan you must do more than simply reimburse for the sins of the past and reduce future payments. You must also write down (charge-off) a portion of the principal balance, reduce the contract interest rate, or apply some combination of the two. You've already discovered what happens if one of these steps is not taken--the loan no longer pays off on the final payment.

Before using LaserPro (or any other document generator) to produce an amortization schedule, you'll have to back into the IR or LA that combines with your reduced PMT. I'd use Excel to calculate the IR or LA haircut.
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#1668706 - 02/23/12 02:07 PM Re: Laser Pro, Silverlake and Reimbursement Richard Insley
J Hunt Offline
100 Club
Joined: Feb 2002
Posts: 132
Phoenix, AZ
Thanks Richard! We were able to do those adjustments and then generate the appropriate amort schedule.
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