Navigation:  Loan Screens > Investor Reporting Screen Group > Loan Investor Fields Screen > Rate Change Information tab > Guaranteed Rate field group > Current Guaranteed Rate

Entry: User, numeric, 9 digits

F/M: Yes

Mnemonic: LNIGRT

Screen: Loans > Investor Reporting > Loan Investor Fields > Rate Change Information tab

 

This field displays the rate (yield) guaranteed to the investor for the selected customer loan account.

 

For payment method 0, 5, 9, 10 (fixed or rate-sensitive), or 6 (fixed or rate-sensitive) loans, this field is file maintainable.

 

For payment method 5, 9, 10 (rate-sensitive,) or 6 (rate-sensitive) loans, this field will automatically be updated the night of the loan rate roll. This rate will be calculated by subtracting the Service fee from the interest rate.

 

The loan must be indicated as Sold and include valid Investor numbers in order for this field to be updated. If the loan is indicated as Pledged, the guaranteed rate does not change.

 

WARNING: When determining the guaranteed rate, the system will use the value in the Guaranteed Rate field on the Loans > Investor Reporting > Investor Group screen if sufficient information is not found in this field.