Navigation:  Loan Screens > Investor Reporting Screen Group > Investor Group Screen > Group Information tab > Service Fee field group

Use this field group to view and edit service fee information for the investor group being created/edited.

 

This information is copied over to the Investor Loan Basics tab on the Loans > Investor Reporting > Loan Investor Fields screen (if valid information is entered in the Investor fields on that screen). The value entered on that screen overrides any value entered in this field group for the selected customer loan.

 

 

The service fee is calculated according to the method specified in the Service Fee field.

 

Use the Service Fee Type field (mnemonic IGSFC/IGSFM) to indicate a service fee guaranteed rate roll option. Possible selections in this field are:

 

•Constant: The service fee is constant. When the loan rate is calculated, the next Guaranteed Rate is also calculated by subtracting the service fee from the next loan accrued rate.

 

•Minimum: The minimum service fee. After the next loan accrued rate and next Guaranteed Rate are calculated, the difference between the two rates is determined. If the difference is less than the minimum service fee, the next Guaranteed Rate is recalculated by subtracting the minimum service fee from the next accrued rate. If this option is selected, “9” or “10” must be selected in the Service Fee field.

 

Use the Service Fee Rate field (mnemonic IGSRTE) to indicate the rate to charge the investor for servicing the group being created/edited. Up to five decimal places can be specified for this rate. This rate can be negative. If "10" is selected in the Service Fee field, do not enter a value in this field. The value in this field is copied to the Service Fee Rate field on the Loan Investor Fields screen.