4.1.7.3 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 value you assign to the new pattern must be unique. Also, the code must be mapped to the appropriate instrument records (PMT_PATTERN_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.