Wraparound calculator

Two obligations, calculated independently

A wraparound position joins two notes without blending them. The wrap note is the buyer’s obligation to the holder. The senior note is the holder’s obligation to the senior lender. OwnerNote replays each note on its own dates, rate, day-count convention, scheduled payment, and immutable transaction history before presenting pair-level figures.

The scheduled payment spread is the wrap scheduled payment minus the senior scheduled payment. The dated net position is wrap cash received minus senior cash paid in the pair window. Net equity compares the two engine-produced payoff amounts as of the same read date. These signed results can be negative; a negative result is a position, not malformed input.

The link-date window

The pair cash window is open on the left and closed on the right: transactions after the link date and through the read date count. A transaction effective on the link date is pre-link history and is excluded symmetrically. At the link date itself, the dated net position is therefore zero.

Reversal timing is dated. Before a reversal’s own effective date, the original transaction counts; on and after that date, the original is excluded. The reversal is not a separate negative cash item. An original outside the pair window stays outside even if it is reversed later.

Admission and verification

The engine first verifies that the wrap scheduled payment can cover the senior scheduled payment and that the wrap principal covers the senior balance at the link date. If admission fails, this page returns a complete error and displays no partial pair figures. It does not substitute a stated balance or approximation.

This is tracking and calculation software, not loan servicing or legal, tax, or accounting advice. Verify both underlying agreements, both ledgers, and the parties authorized to act before relying on the output. Financial histories travel in the request body and are not encoded into the result URL.

Start by confirming that the wrap and senior notes describe the same collateral and that the link date reflects the intended economic handoff. Enter the wrap note’s terms in the first fieldset and the senior obligation in the second; do not paste a combined balance into either side. Each ledger can include payments, principal curtailments, and dated reversals. An entry on the link date belongs to pre-link history, even when it is displayed in a source statement. A later reversal changes whether the original counts from the reversal’s date onward; it does not create an extra cash receipt or payment.

Review the grid by its “Through” date. The grid uses the wrap note’s due-date schedule as its presentation axis, while the dated net position remains the authoritative read for an arbitrary as-of date. A final partial interval is still a valid read when the selected date falls between wrap due dates. If the pair fails admission, correct the underlying facts rather than treating a negative result as an error or replacing an engine figure with a hand calculation. Keep copies of the agreements and source statements so both parties can reproduce the same input set.