8.2.10.3 Data Verification Requirements and Suggested Defaults

• All accounts require a valid AMRT_TYPE_CD as listed earlier.
• If the AMRT_TYPE_CD <> 700 or is not a simple interest amortizing schedule or pattern record, CUR_PAYMENT and ORG_PAYMENT_AMT must be valid. If CUR_PAYMENT and/or ORG_PAYMENT_AMT value is too small or equal to 0, the cash flow engine may generate erroneous cash flows, depending on the AMRT_TYPE_CD selected.
• If the record defaults to AMRT_TYPE_CD 999, or if it cannot find a match in PAYMENT_SCHEDULE or PAYMENT_PATTERNS, the cash flow engine processes the record as AMRT_TYPE_CD 700.
• Suggested defaults in the following table are dependent on basic knowledge of product characteristics:

  Table 8-7 Suggested defaults for Product Characteristics

  Loan Type	Suggested AMRT_TYPE_CD
  Non-amortizing, such as Certificates of Deposit	700
  Fixed amortizing, such as short term consumer loans	100
  Variable-rate amortizing, such as adjustable-rate mortgages	500

• Rule of 78s instruments is implicitly fixed.
• If AMRT_TYPE_CD = 710, REPRICE_FREQ = 0.

Oracle Funds Transfer Pricing

Any invalid AMRT TYPE code will default to 700 (Non-Conventionally Amortization Value).