The P&I isn’t calculating correctly on my ARM loan.

Solution

The margin table tied to the product type entered on the loan hasn’t been set up correctly. The margin table can be accessed from the PRODUCTS OFFERED (01.15.14.16.<PRODUCT TYPE>.<F7>.<TABLE NUMBER>) or from MARGIN-PMT-INT CONTROLS (01.15.14.17.<TABLE NUMBER>). Verify the adjustment periods and rates are set up correctly.

Once the table has been set up correctly, return to the MASTER RECORD (01.04.06) and key through Field 28 (Product Type) to pull in the changes made. Also, key through the Interest Controls box that appears after you have entered through Field 315 on the Loan Information (Field 28) screen.