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

Entry: System, numeric

F/M: No

Mnemonic: LNAMRT or LNRATX

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

This field contains the rate at which interest is accrued on the loan. A rate of 12% would be displayed as “12.00000.” This is the interest rate on loans that use payment method 7 or payment method 6 with the Use ARM Fields checkbox checked.

File maintenance to this field is done on the ARM Rates & P/I Tables tab. The GOLDWriter mnemonic for this field is LNAMRT. However, LNRATX is the loan effective rate, which means if you use this mnemonic, the system will use the effective rate based on the type of loan (i.e., payment method 7 would use LNAMRT, LIP would use LNLRAT, and LNRATE would be used for all other loans).