Navigation:  Loan Screens > Account Information Screen Group > ARM Information Screen > ARM Detail tab > Periodic Rate Caps field group > Delay Cap

Entry: User, checkbox

F/M: Yes

Mnemonic: LNDCAP

Screen: Loans > Account Information > ARM Information > ARM Detail tab

 

If this checkbox is not checked (default), the periodic rate caps will be used when calculating new rates. If a checkmark is displayed, the system will ignore the periodic rate caps when calculating new rates until the calculation is for the rate effective on the date in the Start of Accrual Period field.