Improvements
New support for enabling the scaling factor on fixed, tax-exempt loans
PrecisionLender has added support for a fixed rate scaling factor for both spread locked loans and loans configured with rate lock days.
Note: Please contact your Customer Enablement/Success Partner or the PrecisionLender Support team to enable this feature for your institution.
Product Administration
At the Commercial Product level, the Administrator can now enable the fixed rate scaling factor for Spread Lock, Rate Lock, or both. In addition, there is a separate default fixed rate scaling factor percentage field to be used specifically for fixed rate loans.
Notes:
- The Allowable Fixed Rate Scaling Factor Options and Default Fixed Rate Scaling Factor fields in Product Admin are only visible if the Fixed checkbox has been selected under Allowable Rate Types.
- PrecisionLender automatically enables Spread Lock under Allowable Fixed Rate Scaling Factor Options. You will need to deselect the Spread Lock option if you do not wish to enable the fixed rate scaling factor for spread-locked loans on the selected product. Alternately, if your institution would like to enable the fixed rate scaling factor for rate lock days, you must select the Rate Lock option.
- You can set the scaling factor to use for fixed rate lock loans in the Default Fixed Rate Scaling Factor field. When enabled, the value is set to 100% by default.
Pricing UI
When pricing a commercial loan with a Rate Type of Fixed where the Tax Exemption Option selected is a Tax-Exempt option (is not set to Not Tax Exempt), the Relationship Manager (RM) will see the below UI with the scaling factor included (note the product being priced would need to have Rate Lock selected as one of the Allowable Fixed Rate Scaling Factor Options).
Likewise, if Spread Locked is selected by the RM when pricing, the system will display the below UI as it did with the scaling factor included.
Assumptions
The Assumptions dialog now includes the new Allowable Fixed Rate Scaling Factor Options.
Additional Improvements
- Added the LCR Counterparty data from commercial loan accounts to be available within opportunity event data (if your institution has LCR Counterparties enabled within Administration > Universal Assumptions).
Bug Fixes
- Fixed an issue where, when a new LCR Counterparty Type was added, that same LCR Counterparty was being erroneously added to the Capital Factors table on the Universal Assumptions page.