Subsequent ARM Notices and ARM Notices Letter

Subsequent ARM Notices and ARM Notices Letter

 When generating a Subsequent ARM notices or an ARM notices letter, the following must be true:

  • There must be a valid index rate.  This is based on there being a record in the Index Table that corresponds to the Look Back Period Date.  You get the Look Back Period Date by subtracting the Look Back Period from the Next Rate Change Date. 
  • The Transaction Posting Date must be greater than or equal to the Next Rate Change Date minus the Letter Lead Days.
  • Example: Next Rate Change Date = 7/1/2014, Lookback Period = 45 (days). Calculated date is 5/15/2014. The Effective Begin Date and Effective End Date must cover the period of 5/15/2014.
  • Example: Effective Begin Date = 04/20/2014, Effective End Date = 05/25/2014. Therefore this Index would cover the period of 5/15/2014 and would be selected.

ArticleNumber:

000051419

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