Servicing Guide

Published September 9, 2020

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Does SMDU calculate the "First Trial Payment Due Date" during the workout evaluation?

SMDU will automatically calculate the “First Trial Payment Due Date” during the evaluation if left blank; however, if you wish to enter the date you can either manually enter the date (MM/DD/YYYY) or click on the calendar icon to select the date (SMDU will not accept an odd due date or a due date more than two months in the future) 

  • Note: If a date is not provided by the servicer SMDU will base the “First Trial Payment Due Date” on the date of the evaluation by SMDU.

  • If the evaluation date is before the 16th of the current month, the “First Trial Payment Due Date” will be set for the first day of the next month. For example: A loan evaluated by SMDU on April 3, 2019, would have a first-trial payment date of May 1, 2019

  • If the evaluation date is on or after the 16th of the current month, the “First Trial Payment Due Date” will be set as first month following the next month. A loan evaluated by SMDU on on April 27, 2019, would have a first trial payment date of June 1, 2019.

For additional information please refer to the "Evaluate for a Workout" section of the SMDU UI User Guide.

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