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#2254532 - 05/27/21 06:03 PM FFIEC APR Tool - help guides for interest-only
Banker K, CRCM Offline
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Joined: Jan 2010
Posts: 284
Oklahoma
Does anyone have a guide to inputting "interest-only" loans into the FFIEC's APR Tool? I am needing for both multiple advance draw loans with interest-only payments (like construction), and for fully/single advanced interest-only temp loans (like a bridge loan).
I have attempted inputting the latter type of loan and find various ways that could be input, and of course I'm getting error alerts.
The old system used to have a guide that I used...but the new systems doesn't flow the same way.

Thanks in advance.
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#2254539 - 05/27/21 06:23 PM Re: FFIEC APR Tool - help guides for interest-only Banker K, CRCM
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 76,933
Galveston, TX
The Help feature basically provides you with everything available.

A single advance loan whether it involves interest only or P&I payment is treated exactly the same. It would be all based on the payment streams that you enter. If you are using an actual/365 accrual method, the interest only payment over the course of the year would have something like 10 payment streams due to the different number of days in the months.
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