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Loan Information System Glossary

Loan Information System Glossary

Current Interest Rate: The rate of interest currently being charged on your loan.

Current Loan Balance: The remaining principal balance on your loan. (What you still owe.)

Curtailment: Additional payment against the oustanding principal balance.

Hazard/Flood Insurance Paid Year-to-Date (YTD): The amount of premiums KHC has paid so far this year on your behalf for homeowner's insurance (hazard) or flood insurance coverage.

Interest Paid YTD: The amount of interest you have paid on your loan this year.

Late Charges Due: The amount of late charges that you have not yet paid and have been added to your loan because some of your regular monthly payments have been late.

Late Charges Paid YTD: The amount of late charges you have paid this year.

Loss Draft Balance: The amount of any homeowner's/flood insurance payments for damage claims that KHC is holding until repairs on your home have been completed.

Maturity Date: The date the final payment is due on your loan.

Miscellaneous Insurance: The amount of monthly premiums you are paying for life insurance, accidental death insurance or disability insurance.

Negative Amortization Paid YTD: A condition created when the payments you are making are not enough to pay the interest due on the payments. This condition causes the amount you owe to increase.

Original Loan Amount: The amount borrowed.

Principal & Interest: The portion of your monthly payment that is applied to repayment of the principal (amount borrowed) and interest due.

Principal Balance: The remaining loan amount. (This is not a payoff amount)

Principal Paid YTD: The amount you have paid this year toward the principal balance.

Payment History: An accounting of all transactions that have taken place on your loan.

Remaining Term: The number of months remaining until you reach your loan maturity date.

Returned Check Balance: The amount of fees you owe for the processing of returned checks or insufficient funds on an automatic draft payment.

Subsidy Balance: The amount of money KHC is holding to pay the government's portion on a subsidized loan or the remaining amount of funds KHC has on hand if your loan was a "buy down" loan.

Tax & Insurance: That portion of your payment that is deposited to your escrow account (an account in which KHC holds your payments for tax and insurance until they are due).

Tax & Insurance Balance: The total amount of funds KHC is holding in your escrow account for payment of your tax and insurance bills as they become due.

Taxes Paid YTD: The total amount of real estate taxes KHC has paid on your behalf for the year.

Total Payment Amount: The total of all the items needed to make a full payment. This could include principal and interest payments, tax and insurance payments or miscellaneous insurance payments.

Unapplied Balance: The amount of funds KHC is holding in your account that has not yet been applied as a payment. KHC may be waiting on additional funds or instructions from you regarding application of the funds.