Loan Screens > Account Information Screen Group > ARM Information Screen > ARM Detail tab > Lifetime Rates field group

Entry: User, numeric, 7 digits (not including the decimal)

F/M: Yes

Mnemonic: LNAMLO

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

This field contains the lifetime minimum rate allowed on this loan. It is a 7-digit field that should be entered as a rate, e.g., 7.00000.

Both the accrual rate and the payment rate use this field when calculating a new rate.

Note: If the Start Rate Below the Minimum Rate field has a checkmark and the last rate (rate with date farthest in the future) is below the rate in the Lifetime Minimum Rate Cap field, the system will allow the rate to remain below. See the Use Payment Cap field for more details.