At the beginning of each month, Keystone calculates the payment status for all homeowners with active mortgages for the prior 24 months. This information is shown on the Payment Status History tab, which is located on the Mortgage/Payment Information screen.
You can review the history for the Total, Principal, or Escrow payments by choosing one of those options in the Status pane.
If you double-click one of the months in the Prior Payments History field on the Payments Due/Schedule tab it will bring you to this tab. The record corresponding to the month you double-clicked will then be selected automatically. If you or the homeowner feel that something is in error, this information gives you the tools to diagnose whether a problem exists.
If you double-click one of the Date Due values on the Payment Status History tab, it will take you to the Payments screen, with the first entry for that date selected automatically. This also helps you analyze potential problems raised by the homeowner.
|
Field Name |
Type |
Description |
|
Date Due |
Read-only |
Shows when that particular payment was due. The Date Due is sorted in descending order with the most recent entry at the top. |
|
Monthly Pmt. |
Read-only |
The expected monthly payment amount for that particular month. If a homeowner's monthly payment has been adjusted some time during the past 24 months, you'll see that reflected as a change in the expected monthly payment starting in the month it was adjusted. |
|
Paid-to-Date Expected |
Read-only, calculation |
Calculated as the total amount expected to have been paid as of this date. You can view this for the total, principal, or escrow amount by choosing the corresponding option in the Status pane. This is calculated using your payment plan from the Principal and Escrow histories. |
|
Paid-to-Date Actual |
Read-only, calculation |
The actual total amount paid as of this date. You can view this for the total, principal, or escrow amount by choosing the corresponding option in the Status pane. |
|
Amount Past Due |
Read-only, calculation |
The difference between the Paid-To-Date Expected value and the Paid-To-Date Actual value. Negative values indicate the homeowner is ahead on their payments. |
|
Mths. Past Due Unadj. |
Read-only, calculation |
Takes the Amount Past Due, divides it by the Monthly Pmt., then rounds it down to the nearest month. Example: On 1/1/2008, the Monthly Pmt. was $325 and the Amount Past Due was $690. 690 divided by 325 is 2.1. Therefore, the Months Past Due Unadjusted is set to 2. The homeowner is given the benefit of any doubt by not considering any fractions of months (0.1 in this case). |
|
Mths. Past Due Adj. |
Read-only, calculation |
This represents the number of months that will be reported to the Credit Bureaus if you are using KeyCredit. The number of months shown here reflects only the total payment, as this is what is required for Metro 2 credit reporting standards. This field does not appear when you select Principal or Escrow in the Status pane. The Metro 2 standard only accepts values between 0 and 6. Months past due that are negative (payments that are ahead) or over six months late are modified to fit Metro 2 reporting standards. |
Use the Status options list to toggle the history detail between Total, Principal, or Escrow. The latter two options allow you to look at either just the principal history or just the escrow history for the homeowner.
The option of displaying the breakdown of the principal and escrow history is provided as a convenience to you. These are not used for reporting credit status. Therefore, these displays do not include a Mths. Past Due Adj. field. (see above)