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Base Rate Tables allow institutions to establish the base rates by which all loans and/or interest-bearing account products are priced. The base rates established are used in conjunction with the appropriate Pricing Models to compute rates according to business rules. From the Base Rates Tables page (System Management > Origination > Base Rate Tables), 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 base rate tables:

• Base Rate Table Attributes       
  • General
  • Rates
• Creating an Managing Base Rate Tables
  • Creating Base Rate Tables
  • Editing Base Rates
• Base Rate Index Fields

Base Rate Table Attributes

The following attributes are defined for all base rate tables.

General

The General attributes include the basic information pertaining to the base rates.

The following attributes are defined within the General tab: 

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 enable the base rate table. Inactive base rates are not available to select within the Base Rate drop-down when creating or editing a pricing model.

Rates

Rate attributes enable an institution to add and manage the base rates that are called when Pricing rRules execute during the application process. 

The  and  buttons within the top of the tab provide the ability to assign and remove the rates associated with a base rate table.

Creating and Managing Base Rate Tables

Creating Base Rate Tables

• To create Base Rate Tables click . A new base rate table pop-up window opens.
• Define the General attributes.
• Once all General attributes are defined, navigate to the Rates tab to perform the following actions:

  Add Base Rate

  To add a base rate:

  • Click  to add a new Base Rate. A new row appears within the grid.

     

  • Enter the rate under the Rate column.
  • Under the Effective Date column, assign an effective date for the rate.

    When updating or creating a 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.

  •  Click .

  Delete a Base Rate

  To remove a base rate:

  • Highlight the desired rate within the grid, and click .
  • A message appears to confirm that the base rate should be deleted. Click Yes to remove the base rate, or No to retain the rate and return to the Rates tab.

• Upon completion of all attributes, click . The newly created base rate table populates within the grid in the Base Rate Tables page, and is available to assign to a Pricing Model.

Editing Base Rates

To edit a base rate:

• Double-click the desired base rate table within the gird, or highlight the base rate table and click .
• Within the window that appears, ,make the desired updates to the base rate table.
• Once all updates are complete, click .

Base Rate Index Fields

Each pricing model is assigned a default base rate table in System Management > Origination > Pricing Models; however, if desired, system administrators can also configure the following lookup fields to appear in a rule or screen to update the base rate used to price a loan or account product in an individual application:

• Application > Loan Base Rate Index
• Application > Account Products > Account Base Rate Index

This functionality ensures that each application is not restricted to only using the default base rate assigned to the pricing model for the application type. For example, the Loan Base Rate Index field and/or Account Base Rate Index field can be added to a rule in System Management > Origination > Rules Management to automatically set the value of the  when certain conditions are met in an application. System administrators can also add the  field to an Application screen, or the  in System Management > Origination > Screens to allow users to manually update the base rate for the loan, or each account product during the application process. 

 

When configured to appear in a screen, the Loan Base Rate Index field and Account Base Rate Index field are set to the Default Base Rate Table assigned to the pricing model; however, the value can be changed by selecting a new base rate from a drop-down that lists all active base rate tables assigned to the pricing model.

 

When the pricing model executes for the application, rather than using the default base rate table for pricing, the system looks at the value in the Loan Base Rate Index field, or Account Base Rate Index field, to determine which base rate to use when pricing the loan and/or account product(s) on the application in progress.

Restricting Editability of the Base Rate Index Fields

By default, the Loan Base Rate Index field and Account Base Rate Index field are only editable pre-decision; however, this can be modified by a system administrator in System Management > Origination > Editability.

Additionally, system administrators can also restrict specific users and/or security groups from editing the fields through rules. If desired, an Editability rule can be authored in Rules Management to determine which users and/or security groups are permitted to edit the Loan Base Rate Index field and Account Base Rate Index field during the application process.

Reference the table below for an overview of the Entity and Rule Logic to use to author an Editability rule for this purpose:

Entity	Template	Example Rule Logic
Application	Set Field Editability
Application.AccountProducts	Set Field Editability

 

 

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