I do not, but it's PxRxT, Principal x Rate x Time and know if you're looking at actual-365, or 30-360, or something else specified in your Note.
I can tell you that the letter of the law, literally, is under Sec. 3937(a)(3). "The amount of any periodic payment due from a servicemember under the terms of the instrument that created an obligation or liability covered by this section shall be reduced by the amount of the interest forgiven under paragraph (2) that is allocable to the period for which such payment is made."
This paragraph says that you will review each periodic payment and forgive the interest accrual which exceeds 6 percent. PxRxT.
I can see doing this in your audit process to verify what was done,
Last edited by Andy Z; 06/22/18 09:09 PM.
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AndyZ CRCM
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