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Context Engine Glossary – Next Payment

Updated 3 months ago by Megan Hill

General

The context engine is a large database of retrievable variables, available for use throughout LoanPro software.

These are the variables for next payment:

Name

Variable

Description

Next Scheduled Payment Fees

[[v('next-scheduled-payment-fees')]]

Displays the amount of the next scheduled payment expected to go towards fees.

Next Scheduled Payment Escrow

[[v('next-scheduled-payment-escrow')]]

Displays the amount of the next scheduled payment expected to go towards escrow.

Next Scheduled Payment Discount

[[v('next-scheduled-payment-discount')]]

Displays the amount of the next scheduled payment expected to go towards discount.

Next Scheduled Payment Principal

[[v('next-scheduled-payment-principal')]]

Displays the amount of the next scheduled payment expected to go towards principal.

Next Scheduled Payment Interest

[[v('next-scheduled-payment-interest')]]

Displays the amount of the next scheduled payment expected to go towards interest.

Next Scheduled Payment Amount

[[v('next-scheduled-payment-amount')]]

Displays the next scheduled payment amount on an account.

Next Scheduled Payment Date

[[companyFormatDateTime('next-scheduled-payment-date')]]

Displays the next scheduled payment date on an account.

Next Payment Fees

[[v('status-next-payment-fees')]]

Displays the amount of the next forecasted payment expected to go towards fees.

Next Payment Escrow

[[v('status-next-payment-escrow')]]

Displays the amount of the next forecasted payment expected to go towards escrow.

Next Payment Discount

[[v('status-next-payment-discount')]]

Displays the amount of the next forecasted payment expected to go towards discount.

Next Payment Principal

[[v('status-next-payment-principal')]]

Displays the amount of the next forecasted payment expected to go towards principal.

Next Payment Interest

[[v('status-next-payment-interest')]]

Displays the amount of the next forecasted payment expected to go towards interest.

Next Payment Amount

[[v('status-next-payment-amount')]]

Displays the next forecasted payment amount on an account.

Next Due Date

[[companyFormatDateTime('status-next-payment-date')]]

Displays the next forecasted payment date on an account.

The difference between a scheduled payment and a forecasted payment, is that a forecasted payment better takes into account the current history on a loan (i.e. late payments, unpaid escrow, due fees, etc.) when calculating the forecasted breakdown of a payment. The difference between the two can better be seen in the Reports > Transactions section of an account. The scheduled payments appear in white, and the forecasted payments are shown with a dark yellow background underneath the scheduled payments in the transactions report.

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