Admin - Default Values

The Default Values tab under Admin will be an area that provides the ability to apply default values across the Bryt. 
To change any of the default values shown on this page, you'll want to click the 'Edit' button and change the corresponding default value fields. 

Default Interest Rate
To change the default interest rate that's set when creating a loan using the loan creation wizard, you'll want to navigate to your Admin tab and click on the 'Default Values' tab on the left-hand list.

From there, you'll want to click on the 'Edit' button to enter the default interest rate you'd like to set for your loans (when you create new loans).

Once you've entered the interest rate you want to set by default from now on click on 'Save Changes'. 

Now when you create a loan you'll see the interest rate automatically set to that previously entered default interest rate from the Default Values tab. 

Default Amortization (Loan Creation Wizard)
If you have set parameters for all of your loans, you can set the loan's terms and amortization by default to automatically configure a fully amortized loan.
Note: You can always change the number of terms and amortization as you work through the loan.
To change the default term/amortization number that's set when creating a loan using the loan creation wizard, you'll want to navigate to your Admin tab and click on the 'Default Values' tab on the left-hand list.

Click the 'Edit' button to be able to enter the default amortization number you'd like to set for your loan creation process.
Note: If you do interest-only loans, this wouldn't help since the loan creation process requires a set number of terms which will reflect as a matching number on the page where you would want to set your loan to interest-only (entering a zero). 

Once you've entered your desired default amortization number, click 'Save Changes'. 

 You will now see the default Amortization entered by default upon seeing the 'Interest Rate, Amortization, and Payment Information' screen. 

Default Investor (Investments Module Only)
This default value option for investment module users will help if you assign a single investor to all of your new loans.
You'll want to navigate to the Admin - Default Values tab and click on the 'Edit' button to be able to edit the default values shown below: 

You'll want to click on the blue text '(add default)', which will prompt the ability for you to search your contacts and assign a default investor at 100% funding for any new loans that are created and set In Service. 

Once you've selected a contact, you'll see the option to '(remove)' them if you've selected the wrong contact. 

Once you're done, click the Save Changes button. Going forward you'll have the selected contact be the 100% investor on any new loans you set In Service.

Default Late Fees
This option will allow you to predefine your loan late fees. If you have the investments module you'll be able to preset your servicer/investor split. 

By default 'No Late Fees will be charged' is selected but by selecting the other three late fee options of percentage, flat fee, or per day late - you'll see additional corresponding fields and a servicer/investor payout split percentage (only if you have the investments module). 

Once these values are set by clicking 'Save Changes' they will reflect on any new loans you create.