Navigation:  Loans > Loan Screens > Account Information Screen Group > ARM Information Screen > Rate Caps & Negative Amortization tab > Future Index Rate Pointers field group

This field group contains information about future index rate pointers.

 

 

The Pointer 1 and 2 fields (mnemonic MLPTR1/MLPTR2) contain future index rate pointers. They are used to update the Index Rate Pointer and the P/I Rate Pointer fields the night of the date entered in the corresponding Change Date field to the right of the Pointer field.

 

The Change Date fields (mnemonic MLDTE4/MLDTE5) contain the date when the Index Rate Pointer and the P/I Rate Pointer fields will be changed to reflect the corresponding Pointer. For example, if you enter “02-01-18” in this field, the night of 02-01-18 the system will update the Index Rate Pointer and the P/I Rate Pointer fields with the new corresponding Pointer (1 or 2).

 

These pointers should be valid rate pointers in the Interest Rate Table on the Loans > System Setup Screens > Interest Rate Table screen.

 

Update function 89 needs to be set to “daily” to use these fields.