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

Entry: User, checkbox

F/M: Yes

Mnemonic: LNRTSN

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

 

This field will only be file maintainable for interest-bearing loans (payment method 6). It is used for creating scheduled rate changes on interest-bearing 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 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.

 

Note: If you check this field, you cannot change the Frequency field.