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Guaranteed Rate Cap field group |
  
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Navigation: Loans > Loan Screens > Investor Reporting Screen Group > Loan Investor Fields Screen > Rate Change Information tab >
Guaranteed Rate Cap field group
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Guaranteed Rate Cap field group |
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Use this field group to view and edit investor rate cap information for the selected customer loan account.
The fields in this field group are as follows:
Field |
Description |
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Mnemonic: LNICAP |
Use this field to indicate whether your institution wants to use a periodic guaranteed rate cap for the loan. This field must be marked in order to use the other fields in this field group. |
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Mnemonic: LNIPMX |
Use this field to indicate the maximum points per period that the Guaranteed Rate can be increased for the loan. |
Guaranteed Maximum Points Down
Mnemonic: LNIPMN |
Use this field to indicate the maximum points per period that the Guaranteed Rate can be decreased for the loan. |
Guaranteed Rate at Period Start
Mnemonic: LNIPSR |
This field displays the rate at the start of the rate cap period for the loan. This field must be manually entered the first time. For all subsequent rate cap periods, the system will update this field. |
Length of Guaranteed Rate Cap Period
Mnemonic: LNIPLN |
Enter the length (in months) of rate cap periods for the loan. |