As announced in our product release notes, we are introducing an optional enhancement to the APR calculations in ConformX that aligns more closely with the methodology used by the FFIEC’s official APR tool. While our current calculation method remains fully compliant with regulatory standards (see 12 CFR Part 1026 Appendix J), this update ensures even greater consistency with the tool published by various government agencies.
This change specifically affects how “odd days time” is used in the APR calculation. The new method calculates per diem days by counting forward from the “odd days interest from date” to the end of the month—mirroring the FFIEC tool’s approach. Importantly, this update does not change how “odd days time” is used in per diem interest calculations, which will continue to follow the existing method. A difference should only be seen on loans with a per diem interest credit.
To support this enhancement, we’ve added a new setting: “APR Odd Days Time Interval Calculation Type.” This setting allows for a controlled transition to the new method and includes the following options:
This update will be available upon request. If you would like to review this change in testing environments, please contact your Client Relationship Manager.
Necessary Actions:
No immediate action is required. However, testing is recommended to confirm that the APR displayed on documents aligns with the expected values.
To test existing functionality:
You may import test loans without modifying any settings. This will validate that the current APR calculation remains consistent.
To test the new calculation method:
Coordinate with your Docutech Client Relationship Manager to enable the new setting in the ConformX UAT environment:
“APR Odd Days Time Interval Calculation Type” → Months Measured Back and Days Measured Forward (FFIEC APR Tool Method).
Once enabled, test how this setting affects the APR calculation.
This optional enhancement to the APR calculations in ConformX will be available for use on Production with the software release on August 1, 2025. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.
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