Navigation:  Loan Screens > Account Information Screen Group > Account Detail Screen > Payment Detail tab > Options field group > Use ARM Fields

Entry: User, checkbox

F/M: Yes

Mnemonic: LNRTSN

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

 

This field will only be file maintainable if the loan is payment method 6, daily simple interest. It is used for creating scheduled rate changes on simple interest loans. The default value is unchecked, which indicates that the ARM fields will not be used.

 

If this box is checked, the system will act like this is a payment method 7 loan (ARM). It is from these fields that scheduled rate changes are created. Even though you may access the ARM fields, the system will still use the simple interest calculations for the loan.