10.7.3 Defining Payment Patterns

In a user-defined payment pattern, you can assign a unique amortization type code to a set of payment events, which may include some of the following customized features:

• Changes in payment frequency
• Seasonal payment dates
• Nonstandard or variable payment amounts

Once you create a payment pattern, you can use it by entering the payment pattern code as the amortization type code for the instrument.