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

Entry: User, drop-down menu

F/M: Yes

Mnemonic: LNRDUP

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

Use this field to indicate how the interest rate calculated by the system is rounded in relation to the value indicated in the To Nearest field. Possible selections in this field are:

Up - The system will round up to the nearest value indicated in the To Nearest field. For example, if "Up" is selected in this field and Quarters (1/4th) is selected in the To Nearest field, a calculated rate of 8.01684% will be rounded up to 8.25000%.

Down - The system will round down to the nearest value indicated in the To Nearest field. For example, if "Down" is selected in this field and Eighths (1/8th) is selected in the To Nearest field, a calculated rate of 8.18947% will be rounded down to 8.12500%.

Nearest - The system will round to the nearest value indicated in the To Nearest field. For example, if "Nearest" is selected in this field and Sixteenths (1/16th) is selected in the To Nearest field, a calculated rate of 8.03125% will be rounded up to 8.06250% and a calculated rate of 8.03124% will be rounded down to 8.00000%.

If "No Rounding" is selected in the To Nearest field, then the rate will remain as calculated by the system.

The following field values are rounded using the parameters set up through this and the To Nearest field:

Interest Rate

Next Rate (on the Loans > Account Information > ARM Information screen)

Accrual Rate

Next Guaranteed Rate (on the Loans > Investor Reporting > Loan Investor Fields screen)

Next P/I Rate (on the ARM Information screen)