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Rate Caps

Rate caps are rate limits applied to loans and draws to ensure compliance with various regulations.

They prevent calculated interest rates (spread + index) from exceeding specified maximums. Rate caps can be applied to loans and line of credit draws. When multiple rate caps overlap on the same dates, the system automatically uses the lowest value to ensure compliance.

Operations

Get draw rate caps

Request

Security
oauth2(Required scopes: rates:list) or bearerAuth or apiKeyHeader
Path
personIdstring(AnyId)^ext-|^[A-Z][A-Z0-9]-[A-Z0-9]+-[A-Z0-9]+|^\d+$write-onlyrequired

A Borrower's unique identifier, tied to a person or a business. Can be Peach or a lender's external identifier.

loanIdstring(AnyId)^ext-|^[A-Z][A-Z0-9]-[A-Z0-9]+-[A-Z0-9]+|^\d+$write-onlyrequired

The unique identifier of the Loan we wish to retrieve. Can be Peach or lender's external identifier.

drawIdstring(AnyId)^ext-|^[A-Z][A-Z0-9]-[A-Z0-9]+-[A-Z0-9]+|^\d+$write-onlyrequired

The draw identifier.

GET
/people/{personId}/loans/{loanId}/draws/{drawId}/rate-caps
curl -i -X GET \
  'https://sandboxapi.peach.finance/api/people/{personId}/loans/{loanId}/draws/{drawId}/rate-caps' \
  -H 'Authorization: Bearer <YOUR_TOKEN_HERE>'

Responses

Success

Bodyapplication/json
Array [
createdAtstring, (date-time)

When the rate cap was created.

endDatestring or null, (date)(RateCapEndDate)

Rate cap end date in product timezone, inclusive. If null, applies until end of loan/draw.

idstring

The rate cap identifier.

maxRatenumber, (float), >= 0(RateCapMaxRate)

The maximum spread interest rate that can accrue.

If the calculated rate on a given day is greater than maxRate, then the system will cap the rate and accrue a maximum of maxRate on the loan. Else, we will use the calculated rate.

Format is decimal. For example, 0.36 is 36% annual rate cap.

rateCapReasonstring(RateCapReason)

The reason for maxRate. This is not used for any compliance logic, only for informational purposes.

  • MLA - Military Lending Act (36% cap for active duty military)
  • SCRA - Servicemembers Civil Relief Act
  • federal - Other federal regulations
  • state - State-specific regulations
  • other - Other regulatory or business reasons
Default:"other"
Enum:"MLA""SCRA""federal""state""other"
startDatestring, (date)(RateCapStartDate)

Rate cap start date in product timezone, inclusive.

updatedAtstring, (date-time)

When the rate cap was last updated.

]
Response
[
  {
    "createdAt": "2019-08-24T14:15:22Z",
    "endDate": "2019-08-24",
    "id": "string",
    "maxRate": 0,
    "rateCapReason": "MLA",
    "startDate": "2019-08-24",
    "updatedAt": "2019-08-24T14:15:22Z"
  }
]