Base Rate Spread
On variable rate loans, the spread (the amount by which the current rate of the loan differs from the base rate being tracked) may be configured to be a value dependent upon the current balance of the loan, the original amount of the loan, or the size of the credit line approved. This grid between the size of the loan and the spread is configured in Loan Setup - Base Rate Spread.
Buttons on the top toolbar:
|Add||Creates a new base rate spread. Enter a name and description for the base rate spread, and click OK.|
|Delete||Deletes the selected base rate spread. You will not be allowed to delete a base rate spread if it is currently referenced on any existing loan accounts.|
|Modify||Opens the Modify Base Rate Spread dialog. Enter the new description and click OK.|
Base Rate Spread Elements
The lower half of the base rate spread window shows the list of base rate spread elements for the currently selected base rate spread schedule.
This window shows the effective principal range of each base rate spread, the spread that will be in effect for those balances, the day and time the rate was entered, and which NLS user entered it.
Buttons on the lower toolbar:
|Click this button to send the list of base rate elements to the printer. This printout will give you the entire schedule for the selected base rate spread.|
|Add||Creates a new Base Rate Spread Element. Base rate spread elements are used to define the spread based on the balance of principal (current, total, or credit amount). Enter the range amounts and the spread value. Click OK. When Show/Hide Corrections is set to “Show,” a check-mark will indicate which old rate entries have been superseded by the new spread value.|
|Show/Hide Correction||This button toggles between “Show” and “Hide” settings. When the display is set to show corrections, all entries will be displayed, with those that have been superseded, indicated by a check mark. When the display is set to hide corrections, the check marked entries will be removed, so that you can easily see the schedule as it is currently in effect.|