helpLet me illustrate... - Support: sr #104427, Implement variable loan rate

 
 

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sr #104427: Implement variable loan rate

Submitted by:  Greg Chicares <chicares>
Submitted on:  Thu Jul 14 11:57:13 2005  
 
Category: CalculationsStatus: None
Priority: 1 - LaterSeverity: 1 - Wish
Assigned to: NoneOpen/Closed: Open

Thu Jul 14 11:57:13 2005, original submission:

The difficult issue here is determining the VLR's effect on
guaranteed values. One answer is that the VLR is unbounded, so
guaranteed values cease to exist as soon as a loan is taken.
Another answer is that the VLR is limited by state usury laws,
in states that have usury laws and apply them to the VLR; that
would call for behavior that varies by state, and would lead
to the first answer in many states. Yet another approach: pick
the highest usury limit in any state, and deem that to limit
VLR in all states. Anyone who uses this feature would want to
get legal advice in any case.

Greg Chicares <chicares>
Project Administrator

 

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Follow 2 latest changes.

Date Changed By Updated Field Previous Value => Replaced By
Wed Sep 27 13:32:33 2006chicaresPriority5 - Normal=>1 - Later
Thu Apr 27 19:55:42 2006wboutinCategoryNone=>Calculations

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