Navigation:  Loan Screens > Investor Reporting Screen Group > Investor Group Screen > Group Information tab > Guaranteed Rate

Entry: User, numeric, 7 digits

F/M: Yes

Mnemonic: IGGRT

Screen: Loans > Investor Reporting > Investor Group > Group Information tab

 

Use this field to indicate the guaranteed yield rate promised to the investor on the group being created/edited.

 

The value in this field is copied to the Current Guaranteed Rate field on the Loans > Investor Reporting > Loan Investor Fields screen for each loan as it is sold. If the value in this field falls below the value in the Current Guaranteed Rate field on the Loan Investor Fields screen, the system will short the Service Fee and credit the investor's interest.

 

WARNING: The system examines the Loans > Investor Reporting > Loan Investor Fields screen first in all reports and calculations. When determining the Guaranteed Rate, the system will use the value on this screen if sufficient information is not found on the Loan Investor Fields screen.

 

For Multiple Investors

Enter a value in this field at the time the loan is sold to the investor. This will allow the system to calculate a weighted average rate on the multiple investor group record tied to that group. Afterward, sell the loan to the multiple Investor master number and Group number.

 

After the loan is sold, the Current Guaranteed Rate field on the Loan Investor Fields screen is used to calculate payments online and the Investor Remittance Report - Multiple (FPSRP045).