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TERM IS NOT CORRECT BASED ON ISSUE DATE AND MATURITY DATE - FIS IBS Code Connect

TERM IS NOT CORRECT BASED ON ISSUE DATE AND MATURITY DATE - FIS IBS Code Connect

Owned by Travis Walter
Feb 10, 2023
1 min read

Error Message:

TERM IS NOT CORRECT BASED ON ISSUE DATE AND MATURITY DATE

Problem:
The Loan Issue Date (LNIssDte) + the Loan Term (LNTerm) in months, is not equal to The Loan Maturity Date (LNMatDte)

Solution:
The Loan Issue Date (LNIssDte) + the Loan Term (LNTerm) in months, must be equal The Loan Maturity Date (LNMatDte).

If the loan issue date and the maturity date are correct, than change loan term to match the correct number of months between the two dates

Example:

Incorrect Scenario:

  • Issue Date (LNIssDte): 1/1/22

  • Maturity Date (LNMatDte): 1/1/23

  • Loan Term (LNTerm): 13 months

In this example, the loan term is incorrect because the difference between 1/1/23 and 1/1/22 is 12 months, not 13 months

Correct Scenario:

  • Issue Date (LNIssDte): 7/1/22

  • Maturity Date (LNMatDte): 7/1/23

  • Loan Term (LNTerm): 12 months

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