The MC OFFICE Software carries an Interest Paid To Date and Next Installment Due Date. We do this for C (consumer) type loans where interest is paid from date last paid to date payment is received. However, this method does not do away with installments. Partial payments are not carried as applied. Thus, we never consider this amount.

When we compute delinquent payments, we look to the Next Installment Due to compute the number of delinquent installments.

The MC OFFICE Software will NOT permit a payment of less than scheduled principal and interest. Whether the operator enters a regular payment (Tran Code 01) or a regular payment with a late charge (Tran Code 02), if the amount does not equal the scheduled payment of principal and interest, the software will suspense the entry. Therefore, when we consider installments due, it is actually the delinquent figure. The software will not permit an interest-only portion of a principal and interest payment. Thus, a 30-year loan cannot become a 60-year loan.