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Navigation: Loan Screens > Account Information Screen Group > Account Detail Screen > Interest Detail tab > Index & Margins field group >
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Entry: User, drop-down list
F/M: Yes
Mnemonic: LNRRND
Screen: Loans > Account Information > Account Detail > Interest Detail tab
Use this field to indicate the value to which the interest rate calculated by the system will be rounded according to the to the rounding rule indicated in the Round Rate field. Possible selections in this field are:
No Rounding
Eighths (1/8ths) - GOLDWriter mnemonic LNRRND
Quarters (1/4ths) - GOLDWriter mnemonic LNRRTQ
Sixteenths (1/16ths)
Tenths (1/10ths) - GOLDWriter mnemonic LNRR10
For example, if "Up" is selected in the Round Rate field and "Quarters (1/4th)" is selected in this field, a calculated rate of 8.01684% will be rounded up to 8.25000%. If "No Rounding" is selected in this 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 Round Rate field:
Next Rate (on the Loans > Account Information > ARM Information screen)
Next Guaranteed Rate (on the Loans > Investor Reporting > Loan Investor Fields screen)
Next P/I Rate (on the ARM Information screen)