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

Entry: User, checkbox

F/M: Yes

Mnemonic: LNRTSN

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

 

This field will only be file maintainable if the loan is a daily simple interest (payment method 4 or 6). 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 field is checked, the system will act like this is an ARM loan (payment method 7). 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.