Jump to main content

# For modification transactions, what amount is defaulted to the Modification New Advance Amount and Pay Down Amount in the Note section of the Loan Modification Agreement on the Document Data page?

The amount defaulted to these fields is the difference between the Current Balance and the Loan Amount from the Calculations page. If the Current Balance is greater than the Loan Amount, Pay Down Amount is used. If the Current Balance is less than the Loan Amount, Modification New Advance Amount is used.

These amounts will stay current based on the values on the Calculations page until the amount is changed on the Document Data page within the Loan Modification Agreement.