There are a couple important changes to MLP’s behavior when the Control Report is enabled.
In the Payoff Calculator dialog:
- “Pay Off This Loan” will record the payment (defaulting the payment’s custom field to indicate settlement as entered on the Portfolio Settings dialog), and then record a principal adjustment record marked with the settlement value to bring the principal balance to exactly zero.If you subsequently modify this loan, make sure to delete any principal and interest adjustments at the end of the loan so MLP will adjust the real balance of the loan, and not the already adjusted balance. If you notice more than one set of principal and interest adjustments at the end of the loan, just delete them all and MLP will make a new adjustment record to zero out the balance.
- “Pay This Loan with New Loan” will mark the payoff payment as a “refi” (or the equivalent based on your Portfolio Settings). The payoff payment will then be included in the Refinance line of the Loan Control Report instead of the Settlement or Regular Payment sections.
Aside from this, all calculations are indifferent to the Loan Control Report’s settings.