Base Rate Tables

Base Rate Tables allow institutions to establish the base rates by which all loans are priced. The base rates established are used in conjunction with the appropriate pricing models to compute application rates according to business rules.

From the Base Rate Tables page, institutions are able to create and maintain base rates according to effective dates. When rates are changed, a new rate is added with the appropriate effective date for the new base rate. Discounts and premiums, based on specific pricing models, are automatically applied to the effective rate.

The Base Rate Tables topic includes the following attributes and instructions to assist administrators with creating and editing pricing base rate tables:

Base Rate Table Attributes
- General
- Rates
Creating Base Rate Tables
Editing Base Rates

Base Rate Table Attributes

Base Rate Tables consist of General and Rate attributes.

General

The general attributes include the basic information pertaining to the base rates. This information includes the following fields:

Fields

Description

Name

Enter the name of the base rate.

Description

Enter a brief description of the base rate.

Active

Select the check box to indicate the base rate is active.

Inactive base rates cannot be selected from the Base Rate drop-down in pricing models.

Rates

Rates attributes enable an institution to update the base rates that are called when Pricing Rules are executed. From attributes, add or delete rates.

When updating the Base Rate Table, users must enter an effective date.

If adding a new rate to an existing base rate, today and days prior cannot be selected.
If adding a new rate to a new base rate, today's date pre-populates.

Creating Base Rate Tables

To create Base Rate Tables click the Create button. A new base rate table pop-up window opens.
Define General attributes.
Add Rates attributes:
- Click the Add button to add a new Base Rate. A new row is added.
- Set the rate.
- Set the effective date.
Click Save and Close.

Editing Base Rates

To edit a base rate:

Select the base rate that requires updates from the listing.
Click Edit.
Make the desired updates to the base rate.
Once all updates are complete, click Save and Close.

While editing a base rate table, existing rates may be deleted. To delete a rate:

Select the rate that is to be deleted.
Click Delete.