For any client using PrecisionLender’s Cost of Funds, you’ll notice two changes to the FTP calculation on loans in the upcoming release.
- Amortization term will be floored to Maturity which is consistent with the rest of the application.
- Scheduled Draws will start at month 1 instead of month 2.
This will affect all loans that go through Relationship Awareness after the release. It will not retroactively affect existing loans. If you are using your own Cost of Funds, you will be unaffected by this change.
Please reach out to our support team at firstname.lastname@example.org if you have any questions.