Creating An Amortization Schedule For An Adjustable Rate Loan; Creating An Amortization Schedule For An Arm With Negative Amortization - Calyx Point 7 User Manual

Marketing tools
Complete the
4
fields.
Click the Calculate button to display the payment schedule.
5
Click the Monthly Sch button to view a monthly payment schedule.
6

Creating an amortization schedule for an adjustable rate loan

To create an amortization schedule for an adjustable rate loan:
Open a prospect or borrower file.
1
Select Marketing > Amortization Schedule.
2
If you have created a loan program template, click Loan Program to select one.
3
Complete the
4
fields.
Complete the
5
will change for the first adjustment. (For example, enter
from 6% to 8%)
In the
6
adjustment for the remainder of the loan (for example, every six months).
In the
7
In the
8
ceiling to which the note rate can adjust.
In the
9
program of your lender. To show a worst case scenario, leave the Index field blank.
10 The
11 Click the Calculate button to display the payment schedule.
12 Click the Monthly Sch button to view a monthly payment schedule.

Creating an amortization schedule for an ARM with negative amortization

To create an amortization schedule for an ARM with negative amortization:
Open a prospect or borrower file.
1
Select Marketing > Amortization Schedule.
2
If you have created a loan program template, click Loan Program to select one.
3
Complete the
4
fields.
In the
5
for the first change to occur.
412
,
Loan Amt Note Rate
Term is the amortization time period. Due In is the length of the loan.
Therefore, a 30-year amortized loan with a balloon payment after five
years should be:
360/60
Term/Due In:
,
1st Pmt Date Loan Amt
field. The first adjustment cap is the percent that the loan
1st Adj Cap
field, enter the number of months between each rate
Adj Period__mths
field, enter the percent that the loan will change each period.
Adj Cap__ mths
__% field, enter the difference between the starting note rate and the
Life Cap
and
Margin __% Index
field is optional. Use the
Floor
,
1st Pmt Date Loan Amt
__ % field, enter the maximum percentage that the rate will increase
1st Adj Cap
,
Term___mths, Due In__mths
Tip
, ,
Note Rate Term___mths
__% fields, enter those values based on the loan
field to indicate a minimum interest rate.
Floor
, ,
Note Rate Term___mths,
, and
1st Pmt Date
, and
Due__mths
% for a loan that will change
2
and
Due __mths
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