The scheduled unpaid principal balance (UPB) of the mortgage as of the Funding Date or the issue date of the associated security.
Valid Values:
Valid format is “#########.##”; for example, enter $250,219.53 as “250219.53” (do not enter commas).
When to Use:
Required for all loans.
How to Use:
For fixed-rate mortgages, enter the scheduled unpaid principal balance (UPB) of the Mortgage as of the Funding Date.
For ARM mortgages, enter either the scheduled or the actual UPB of the Mortgage as of the Funding Date.
The scheduled UPB must include reductions for:
The principal due in the Funding Date month (even if not collected) and all prior months.
The principal portion of any advanced (prepaid) installments received prior to the Funding Date.
Any partial prepayments (curtailments) received on or before the Delivery Date.
For loans sold for Cash through Cash-Released Xchange® and Co-Issue XChange®, ensure the following: When the Funding Date is after the 10th of the month, and LPIDD is the first of the following month, you must:
1. Amortize the loan down by one principal payment and ensure the Loan Acquisition Scheduled UPB Amount (Sort ID 385) reflects the same and,
2. Advance the Last Paid Installment Due Date (LPIDD) (Sort ID 440) to the first of the following month.
Example
Incorrect = Funding Date is 3/11/24 and LPIDD is 03/01/24
Correct = Funding Date is 3/11/24 and LPIDD is 04/01/24
