Workout Terms

The Workout Terms section of the Bankruptcy Cramdown Details page contains information around the modification's terms and includes the following fields.

The table below provides a brief description of each data field in the Workout Terms section:

Field Name

Field Type

Description

Type

Text

Describes the type of workout term.

Values that appear under this section include:

Type	Description
Gross UPB	The total dollar amount of the gross unpaid principal balance on the loan. Includes the interest-bearing UPB and non-interest bearing UPB (if the loan had been previously modified and there was a partial principal forbearance), if applicable.
Interest Bearing UPB	The dollar amount of the post workout interest-bearing unpaid principal balance amount based on the post workout terms of the loan.
Non-Interest Bearing UPB	The dollar amount of the portion of the gross UPB that is not amortized and will not produce interest. It is still part of the outstanding balance that the borrowers owe to Freddie Mac post workout.
Interest Rate	The contractual interest rate on the loan at the time of workout eligibility determination.
Remaining Term	The remaining term (in months) of the loan at the time of workout eligibility determination.
P&I	Monthly principal and interest payment (principal and interest constant) on a mortgage at the time of workout eligibility determination.
Delinquent Interest	The dollar amount of the interest owed on a loan as a result of non-payment--calculated from the DDLPI through the end of a set period.
PITIAS	The dollar amount of the monthly housing expense payment used by the Servicer in evaluating the Borrower’s eligibility. It includes the existing monthly principal and interest payment as well as the monthly pro-rata amounts for taxes, property insurance, HOA/ Condo/ Co-op dues, and any monthly escrow shortage payments.
HTI Ratio	The pre workout ratio of the monthly housing debt payments of the primary residence and the total monthly income amount of the borrower. The monthly debt payments include principal, interest, taxes, insurance (except MI), association dues and any escrow shortage amount (PITIAS).
Maturity Date	The date that the mortgage is due to mature based on the origination date and the mortgage term at the time of workout eligibility determination.

Current Terms

Displays the current mortgage terms prior to the workout.

Proposed Terms

Displays the proposed workout mortgage terms.

Post Workout Terms

Displays the post workout mortgage terms.

The final workout terms display in this column.

P&I Change %

Percentage

This ratio is the difference between the pre-workout and post workout P&I amount.

Other Post Workout Details

MTMLTV

Numeric

The post workout Loan to Value (LTV) ratio expressed as a rate that is adjusted for Mark to Market analysis.

Trial Period (From/To)

Date

(MM/DD/YYYY)

The date range for the Trial Period.

The Trial Period From Date indicates when the Trial Period goes into effect; also referred to as the beginning of the Loan Modification Trial Period or Trial Period Start Date.

The Trial Period To Date indicates the scheduled end date for the modification trial period.

If not applicable, the field will show '-- to --'.

Note: The Trial Period range can be three or four months depending on whether a interim month has been inserted.

Interest Rate Change Date

Date

(MM/DD/YYYY)

The date that the new interest rate of the modification is effective.

This is one month prior to the Modification Effective Date

First Payment Due Date

Date

(MM/DD/YYYY)

The date that the new payment of the modification is effective.

Upon evaluation, Resolve uses the first payment due date (month after the interest rate effective date) of prior settled workouts with deferred principal and interest (P&I) payments to determine eligibility.

Pre-Cramdown Modified Gross UPB

Currency

Resolve's calculated post modification capitalized gross UPB amount.

Total Write Off

Currency

The total amount to be written off.

UPB Write Down

Currency

The amount of principal that the bankruptcy court either discharges and/or is no longer subject to the lien.

Arrearages/Capitalization

Suspense/Restricted Escrow

Currency

The total dollar amount of funds that are currently being held in an account on behalf of the borrower that have not yet been allocated.

Borrower Contribution

Currency

The dollar amount that the borrower has contributed towards the delinquent UPB, interest and/or fees in a workout with Freddie Mac.

Monthly Escrow Shortage

Currency

The dollar amount that the borrower is currently required to pay each month for the Actual Escrow Shortage at the time of evaluation.

Escrow Advances

Currency

The dollar amount of advances made by the Servicer prior to evaluation and any advances that will be made during the Trial Period to pay property taxes or insurance premiums.

Legal Fees/Cost

Currency

The dollar amount of fees that have been paid or are due for legal services associated with a delinquent loan.

Property Preservation

Currency

The dollar amount of all outstanding fees and costs incurred by the Servicer in order to preserve and protect the property.

Total Capitalized Arrears

Currency

The cumulative dollar amount required to bring the loan current.

Includes Legal Fees, Property Preservation Costs, Escrow Advances, Delinquent Interest, Suspense/Escrow Balances and Borrower Contributions.

Projected Escrow Shortage

Currency

Total estimated escrow amounts due once the loan has been modified that cause the balance to drop below the targeted escrow balance.

Submission Notes

Text

Notes entered by the Servicer in the workout Comments data field providing further details about the workout (e.g., submitted with an exception review request).