- Table Name
- This field sets the Table Name for the specific Rate Table in your Rate Sheet.
- The left (
) and right ( ) arrows allow you to modify the position of the Rate Table in relation to other Rate Tables.
- The copy icon (
) in between the arrows allows you to duplicate the Rate Table.
- Description
- This text box allows you to note any details specific to the Rate Table.
- Product Name
- This field is automatically filled based on the Product Type selected in the Add drop down menu.
- Payment Type
- Rate Type
- This field allows the Rate Type to be specified and matches the types allowed by the Product Edit Screen.
- This can be:
- Fixed
- Floating
- Adjustable
- When Fixed is selected, the Spread Locked field will appear allowing you to set a Fixed rate based on a curve plus a spread. The Default Spread applies to the entire table, however you can override this Spread within individual cells.
- When Adjustable or Floating is chosen, additional fields will appear allowing you to set the following:
- Minimum Initial Rate
- Index
- Minimum Spread
- Floor/Cap
- Initial Period
- Adjustment Frequency
- Maximum Initial Adjustment
- Maximum Periodic Adjustment
- Maximum Lifetime Adjustment
- Note: If you have set a Minimum Initial Rate or a Minimum Spread, you may see an orange warning from Andi® letting you know that your Minimum Rate is in effect. This will display when you are meeting your target, and reminds you that you should be able to quote a lower initial rate or spread, but doing so would violate your Minimum Initial Rate or Minimum Spread.
- Collateral
- This field allows you to specify the collateral properties for the Rate Table.
- You can adjust the LTV (Loan to Value) and Recovery Rate for the collateral here. Note: If the Recovery Rate is set to 0%, changes in LTV will not affect the rate calculations.
- Target
- The target is pulled from the Product definition but can be adjusted by clicking on this field.
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- Origination Channel
- Clicking in the Origination Channel field will open a popup where you can select the one time cost that will be incurred by the bank at closing:
- Origination Channel
- The options listed here are fully configurable at the product level in the Administration Section.
- Additional Origination Expenses that the bank has to pay out, as:
- A percentage of fees paid by the borrower
- A percentage of the amount of the loan
- A dollar amount
- Some of these options may not be available since they are fully configurable at the product level in the Administration Section.
- Setting Up Origination and Servicing Channels
- Servicing Channel
- Clicking in the Servicing Channel field will open a popup where you can select the Annual cost that will be incurred by the bank at for the life of the loan.
- Servicing Channel
- The options listed here are fully configurable at the product level in the Administration Section.
- Additional Servicing Expenses that the bank will incur.
- Some of these options may not be available since they are fully configurable at the product level in the Administration Section.
- Setting Up Origination and Servicing Channels
- Fees
- Clicking in the Fees field will open a popup where you can enter fees that will be paid by the Borrower to the Bank.
- You can enter:
- Initial fees
- Paid one time only at closing
- Annual Fees
- Paid every year of the loan
- Discounts
- Clicking in the Discounts field will open a popup where you can enter any discounts that are offered for this specific product.
- Some of these options may not be available since they are fully configurable at the product level in the Administration Section.
- Options
- This field allows you to specify print grouping options for the columns in your Rate Table.
- Grouping Options:
- No Grouping
- Group by Maturity
- Group by Risk Rating
- Group by Expected Life
- There is also a checkbox to specify whether estimated APR is shown. If checked, the APR will display in parentheses to the right of the stated rate.
- Prepayment Option (Commercial Loan Rate Sheets)
- If enabled, Prepayment Option will display in the Details section with a dropdown menu.
- Available Prepayment Options:
- 5-4-3-2-1
- 3-2-1
- Yield Maintenance
- Funding Source
- This field allows you to select different funding packages for your rate sheet as long as you don’t have an override set on the product you’re pricing, and as long as you have multiple funding packages set up.
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