Loan Screens > Account Information Screen Group > ARM Information Screen > ARM Detail tab > P/I Payment field group

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

F/M: No

Mnemonic: LNAMNI

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

This field contains the rate on which the next P/I was calculated. This field is only informational. File maintenance to this field will not affect the P/I calculations.

If there has been one or more P/I change calculations and the loan is delinquent, the system will find the accrual rate that was in effect at the time of the P/I calculation and use that rate, along with any margin or cap limits, to calculate the Next P/I Rate. This will only happen if the month of the accrual rate calculation is the same as the month of the P/I calculation.

Note: New P/I calculations that are not coordinated with a rate change will not use periodic or lifetime cap limits.