Transaction Type 97 (Extended Loan Activity Record) is an extended LAR that includes the date of payment. This date must be included in reporting for all daily simple interest mortgage loans and actual/actual biweekly loans. This transaction must be reported in addition to a Transaction 96 for these mortgage loan types. The interest accrual is driven by the date of payment. Record specifications and descriptions for Transaction Type 97 are shown in the following table.
A Transaction Type 97 is used along with a Tran 96 to report Daily Simple Interest loans.
For more information see Investor Reporting Manual Chapter 2-03, Reporting a Transaction Type 97 (Extended Loan Activity Record) (01/18/2017).