Toll Free 1-877-506-2744
How can we help?

Creating a Custom Schedule for Rates and Spreads

Print Friendly Version of this pagePrint Get a PDF version of this webpagePDF

PrecisonLender allows you the ability to define a custom schedule for fixed rates and floating and adjustable spreads. This can be helpful if you're pricing what is commonly called a step up loan or rate step up structure. This functionality must be enabled on the product page in administration.

 

When pricing an opportunity, select the chevron in the box next to 'Rate Type' to select the desired fixed, floating, or adjustable schedule.

Rate_Type.png

 

Fixed Rate Schedule

Once you select 'Fixed Schedule', a chevron will appear in the box next to 'Initial Rate.' 

Initial_Rate.png

 

Once you select the chevron, you can add additional entries for the rate schedule. The month column will equal the start month of the rate that is entered in the adjacent column. 

Fixed_Rate_Rate_Schedule.png

Adjustable and Floating Spread Schedules

Once you select 'Adjustable Schedule' or 'Floating Schedule,' a chevron will appear in the box next to 'Spread.' 

adjustable_rate_spread.PNG

 

For adjustable rate schedules, once you select the chevron, you'll notice that the first spread schedule will be locked to the month following the fixed period. You can add additional entries to the spread schedule after the fixed period.

Adjustable_Rate_Spread_Schedule.png

 

For floating rate schedules, you can add additional entries to the spread schedule starting with month one. Adjusting the spread in month one will also update the initial rate. 

The month column will equal the start month of the spread that is entered in the adjacent column.

 

 

Related Articles

Was this article helpful?
Have more questions?