Floating Rate Simple Interest Loan Servicing
Consumer Servicing Software…Commercial Servicing Software
The FLOATING-RATE module tracks rates on a daily basis, calculating interest on actual days, receipt date to receipt date, using U.S. Rule- Simple Interest.The complex calculations for periodic payments and payoffs are instantly available. Payments and late charges can be adjusted, as you require. FLOATING-RATE produces an interest calendar for multi year and automatically allows for leap years.
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Features
- Full Floating Index Calculations Allow for Daily Interest Rate Changes
- Up to 100 Different Indices
- Complex Calculations for Payoffs and Monthly Payments Made Easy
- 360/365 Over Actual Full Floating can be Available
- Loans can be Fully Amortizing, Partially Amortized or Interest Only
