13.2 Create Payment Patterns

You create payment patterns to capture the repayment behavior of instruments that are too complex to be accommodated through the use of the standard instrument table fields.

To create the payment pattern, do the following:

1. Navigate to the Payment Pattern summary page.
2. Click Add icon. The Add Payment Pattern page is displayed.
3. Enter a Code value for the new payment pattern. You can also click Generate Code Option in Code field to generate the code automatically.

   Note:

   The code, also known as an amortization type code, is a numeric internal identifier for the payment pattern. The code value must be a number between 1000 and 69999. The code value you assign to the new pattern must be unique. In addition, the code must be mapped to the appropriate instrument records (AMRT_TYPE_CD field) to connect the instrument to the appropriate pattern.
4. Enter the Name for pattern.
5. Enter a brief Description for the pattern.
6. Select the Pattern Type: Absolute, Relative, or Split.
7. Select the Payment Type: Conventional, Level Principal, or Non-amortizing.

   Note:

   The Payment Type option is not available for Split Payment Pattern type.

   The selection of the payment pattern type made in the previous step determines the information you must provide to successfully define that pattern type. See:

   • Defining Absolute Payment Patterns
   • Defining Relative Payment Patterns
   • Defining Split Payment Patterns
8. Click Save.

Note:

The Payment Pattern Details page displays the specifications associated with the Absolute Payment Pattern Type, which is the default Payment Pattern Type value. Should you decide to change this value for any of the other two alternatives, Relative or Split, the system will refresh the payment specifications corresponding to the new Pattern Type. Although you can change your selection of the Pattern Type at any point in this procedure, sometimes this might cause loss of data related to any prior selection