Event 42, LIP Rate Change Letter |
  
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Navigation: Appendix A - Merge Field Descriptions (Loans) >
Event 42, LIP Rate Change Letter |
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Event 42 will generate an LIP rate change letter if the LIP rate changes are based on either a rate change date or rate sensitive loans. This letter will only create if the LIP method code is 1 or 101.
Merge Field |
Field Mnemonic/ Calculation |
Description |
|---|---|---|
LIP NEXT RATE |
LNLNXT |
Next LIP rate |
LIP NEXT INDEX |
LNLNPR |
Base index used to calculate the next LIP interest rate |
LIP PREVIOUS INDEX |
LNLPIN |
Base index used to calculate the current LIP interest rate |
LIP RATE CHANGE DATE |
LNLCHD |
Effective date of the next LIP rate change |
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