Account Number

The primary identifier for ownership of an account at the customer level. It is a reference for all the loans associated with that customer.

Accrued Interest

Interest that has accrued during the prior Billing Cycle.

Approved Loan Amount

The original amount of funds that were approved for the customer.

Approximate Daily Interest

To find out how much interest accrues daily, use this formula: (Unpaid Principal x Interest Rate) ÷ 365 or 366 (number of days in the year) = Approximate Daily Interest.

Approximate Interest Due

Approximate Daily Interest x number of days in your billing period = Approximate Interest Due.

Auto Payment

A payment that is automatically drafted from the customer’s bank account on a recurring basis and applied toward their Earnest loan.


The amount of debt still owed on an account.

Billing Cycle

The period of time between the generation of billing statements. The Billing Cycle’s start and end dates may or may not be the same as the Billing Period’s start and end dates.

Billing Period

The interval of time during which bills are prepared. The Billing Period start and end dates may not be the same as the Billing Cycle start and end dates.

Capitalized Interest

Accrued interest that has been added to the Unpaid Principal balance. Since the interest that is capitalized gets added to the principal, the customer will accrue interest on a higher balance.

Current Amount Due

The Monthly Payment Amount or the remainder of the Monthly Payment Amount if an overpayment was received in a previous Billing Cycle.

Current Balance

Unpaid Principal + Unpaid Interest + Unpaid Fees, if applicable.

Disbursement Date

The date when funds of the Approved Loan Amount were sent out to pay off underlying loans as part of the refinance process.

Extra Payment

A payment received in excess of the Past Due Amount + Current Amount Due. See Overpayment.

Fees Assessed

The sum of the charges assigned in the prior Billing Cycle.

Last Payment Effective Date

The date the most recent payment was credited to the account within the last billing period.

Late Fee

A charge that is assessed if your payment is not made by the date presented on your billing statement to avoid such fee.

Loan Group Number

The numeric identifier utilized to distinguish a Loan/Billing Group.

Loan ID

The numeric identifier utilized to distinguish an individual loan.

Loan’s Outstanding Balance

Current Balance less the amount of an overpayment that has already satisfied the Past Due Amount and Current Amount Due (if applicable).

Monthly Payment Amount

The amount required each month to repay the loan according to the repayment schedule.

Monthly Payment

The amount required each month to repay the loan according to the repayment schedule.

Original Principal

The original approved loan amount.

Other Fees

A charge or charges assessed based on qualifying conditions that are disclosed on the promissory note.


A payment received in excess of the Past Due Amount + Current Amount Due.

Past Due Amount

The remainder of monthly payment amounts from previous Billing Cycles that have not been satisfied by the customer (this does not include fees).


A transfer of funds made by the customer to Earnest to be applied towards their loan.

Previous Statement Balance

The prior month’s billing statement’s “Current Balance”.

Principal Reduction

The amount of funds that have reduced the Unpaid Principal in the prior Billing Cycles.

Returned Check Fee

A charge that is assessed when a payment does not clear the bank for any reason, including insufficient funds, missing signature, or account closure.

Total Payment Due

Past Due Amount + Current Amount Due + Unpaid Fees. This is the amount the customer needs to pay in order to complete their repayment schedule by the projected date (by paying the fees, the remainder of the payment is the amount needed to satisfy the interest and/or principal expected in the repayment schedule).


A payment received that is insufficient to cover the Past Due Amount + Current Amount Due.

Unpaid Fees

Fees that were assigned to the customer in the past and have not been satisfied (this variable is NOT a factor in payment allocation).

Unpaid Interest

Overall interest that has accrued that has not yet been satisfied by the customer.

Unpaid Principal

The Original Principal (the original loan amount borrowed by the customer), less any prior reductions to the Original Principal, plus any interest that has been capitalized.