Loan Screens > Account Information Screen Group > Account Detail Screen > Interest Detail tab > Index & Margins field group

Entry: User, alphanumeric

F/M: Yes

Mnemonic: LNRPTR

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

This field displays the rate pointer from the Interest Rate Table. A rate pointer allows rate changes on loans using the Interest Rate Table which allows prime sensitivity on loans. The Interest Rate Table is set up on the System Setup Screens in CIM GOLD and is user-defined. Rate pointer 255 indicates that the interest rate for this loan should never change.

This field is called Payment Rate Pointer/Index on ARM loans (payment method 7) and daily simple interest loans (payment methods 4 and 6) with the Use ARM Fields field checked. This field controls the rate at which the payment is to be calculated. Therefore, the rate pointer entered in this field should be the same as that entered in the Index Rate Pointer field on the Loans > Account Information > ARM Information screen for the loan unless you, in fact, want the payments to be calculated based on a different rate than the loan is accruing.

For payment methods 5 and 6, and LIP loans that are rate sensitive, when the rate is pulled from the rate table, the new rate becomes effective on the Effective Date found on the Interest Rate Table screen. If the effective date falls on a weekend or a holiday, the system will accrue interest up to the effective date and change the Date Last Accrued to the effective date. In addition, the system will write the effective date to history.