Since Manager “Manager does not calculate mortgage payment schedules. Nor does it automatically increment liabilities.” Adding a Mortgage - #2 by Tut
What is the best practice using Payment Rules for mortgage payments which comprise of Principal, Interest, Escrow?
The best I got so far is since the Escrow amount stays the same (until it changes) I set that as an exact amount. For Principal and Interest amounts I set those as exact amounts as on the date of the last Escrow change. This allows me to run the rule but since the Principal and Interest amounts change in each payment, then I have to edit each payment separately to reflect each specific payment.
Thoughts?..Any better way?
Thanks.