December 2023 Release Notes

Issue Description

On running the LoanClosureDynamicJob, with the Adjust Deposit Amount In Payoff flag disabled, the system is neither creating a LPT of Tolerance type nor is it updating the loan status to Closed - Obligation met.

Example to Understand the issue

Resolution

The issue is now resolved and when the Can we say Pay off amount goes below Payoff Tolerance Amount, on executing the LoanClosureDynamicJob, the system is creating an LPT of Tolerance type and it is also updating the loan status to Closed - Obligation met.

When disbursal transaction exceeds 50,000 in the customer org, on attempting to reverse a disbursal transaction, the system is displaying the following error message:

Resolution

The issue is now resolved and the system is not displaying any error message on attempting to reverse a disbursal transaction.

Issue Description

The system is creating duplicate bills if an Additional Interest Component is added to the loan contract mid of loan cycle and the Add Interest To Bill flag is set to true.

Example to understand the issue

Resolution

The issue is now resolved and the system is not creating duplicate bills, when an AIC is added to the loan contract mid of loan cycle where the Add Interest To Bill flag is set to True in the Interest Components Details.

Issue Description

When creating a loan contract, the system is displaying the following error message if the number of Amortization Term is more than the number of Payment Term:

Example to understand the issue

Resolution

The issue is now resolved, and the system is not displaying any error message while creating a contract even if the number of Amortization Term is more than the number of Payment Term.

Issue Description

On selling the Investment Order (IO) to more than one investor, the system is not posting the Interest Accrued from Last Interest Posting Date to current date and hence, there is no Interest Posting Transaction generated for the selling IO. The value of this Interest Accrued is instead getting displayed in the Interest Remaining field. Also, the Income to be Collected flag for the sold investor remains set to false, resulting in no funds being allocated to the sold IO during the payout process.

Resolution

The issue is now resolved and the Interest Posting Transaction is getting created correctly for the sold Investment Order when selling to multiple investors.

Enhancement Description

The following new option is added to the Time Counting Methods to facilitate the accurate AMZ schedules calculation during the transition from leap year to non-leap year:

When you select this method, the system considers that a year has 365 days in a non-leap year and 366 days in a leap year. Thus, P x R/365 is calculated as the interest per day for non-leap year and P x R/366 as the interest per day for a leap year where P indicates the principal amount on which interest is to be calculated and R indicates the annual rate of interest.

The Actual Days (366) Exclude last day option differs from Actual Days (366) option in the calculation of number of days while transitioning from a leap year to a non-leap year or vice versa.

The Actual Days (366) Exclude last day excludes the last day of the leap year or the non leap year while calculating the number of days during the transition from leap year to non-leap year (or vice versa), whereas Actual Days (366) does not exclude the last day.

The following example elaborates the calculation of days using the Actual Days (366) Exclude last day option:

Consider the billing date is 15 th of every month. The number of days in one billing cycle from December 15, 2023, to January 15, 2024, is calculated as following:

As seen in the preceding table, the last day, December 31, 2023, is not considered as part of the non-leap year for calculation of the number of days. It is considered as part of the leap year.

Migration Script

While migrating to Q2 Loan Servicing December'23 version, go to https://github.com/cloudlending/neon-1/tree/v_4.4001_December23_Patch_Branch/UnmanagedCustomerScripts/TCMMigration and execute the following job codes:

global class UpdateLoanContractTCMJob extends clcommon.DynamicJob {

global static String jobName = 'UPDATE LOAN CONTRACT TCM';

global UpdateLoanContractTCMJob() {

super(jobName, getQuery(null));

}

global UpdateLoanContractTCMJob(List<Id> contractIds) {

super(jobName, getQuery(contractIds));

}

global override void doInitialize() {} // do nothing

global override String getRuntimeQuery() {

return getQuery(null);

}

global static String getQuery(List<Id> contractIds) {

String allowabledLoanStatuses = '\'' + loan.LoanConstants.LOAN_STATUS_ACTIVE_GOOD_STANDING + '\'' + ',' +

'\''+ loan.LoanConstants.LOAN_STATUSACTIVE_BAD_STANDING + '\'' + ',' +

'\''+ loan.LoanConstants.LOAN_STATUS_ACTIVE_MATURED + '\'';

String ns = 'loan';

mfiflexUtil.ExecutionContext ec = mfiflexUtil.ExecutionContext.getExecContext();

mfiflexUtil.ObjectCache loanOC ;

loanOC = ec.getObject('LoansJob');

if ( loanOC != null) {

ec.deleteObject('LoansJob');

}

loanOC = ec.createObject('LoansJob',

'Loan_Account__c',

ns);

String fields = 'Id, ' +

'Time_Counting_Method__c ';

loanOC.addFields(fields);

loanOC.addNamedParameter('tcm', loan.LoanConstants.TIME_COUNTING_ACTUAL_DAYS_366);

String whereClause = 'Loan_Status__c in (' + allowabledLoanStatuses + ')'

+ ' AND Invalid_Data__c = false AND Time_Counting_Method__c = :tcm';

if (contractIds!=null && contractIds.size() > 0) {

whereClause += ' AND Id IN :contractIds';

}

loanOC.setWhereClause(whereClause);

String query = loanOC.buildQuery().getQuery();

system.debug('query :: ' + query);

return query;

}

global override String getRuntimeQueryForPipelinedExecution(Set<Id> records) {

return null;

}

global override void doStart(Database.BatchableContext bc) {}

global override void doExecute(Database.BatchableContext bc, List<sObject> scope) {

List<loan__Loan_Account__c> loanAccountList = (List<loan__Loan_Account__c>) scope;

for (loan__Loan_Account__c loanAccount : loanAccountList) {

loanAccount.loan__Time_Counting_Method__c = 'Actual Days (366) Exclude last day';

}

update loanAccountList;

}

global override void doFinish(Database.BatchableContext bc) {}

}

global class UpdateLoanProductTCMJob extends clcommon.DynamicJob {

global static String jobName = 'UPDATE LOAN PRODUCT TCM';

global UpdateLoanProductTCMJob() {

super(jobName, getQuery());

}

global override void doInitialize() {} // do nothing

global override String getRuntimeQuery() {

return getQuery();

}

global static String getQuery() {

String ns = 'loan';

mfiflexUtil.ExecutionContext ec = mfiflexUtil.ExecutionContext.getExecContext();

mfiflexUtil.ObjectCache productOC ;

productOC = ec.getObject('LoansJob');

if ( productOC != null) {

ec.deleteObject('LoansJob');

}

productOC = ec.createObject('LoansJob',

'Loan_Product__c',

ns);

String fields = 'Id, ' +

'Time_Counting_Method__c ';

productOC.addFields(fields);

productOC.addNamedParameter('tcm', loan.LoanConstants.TIME_COUNTING_ACTUAL_DAYS_366);

String whereClause = 'Time_Counting_Method__c = :tcm';

productOC.setWhereClause(whereClause);

String query = productOC.buildQuery().getQuery();

system.debug('query :: ' + query);

return query;

}

global override String getRuntimeQueryForPipelinedExecution(Set<Id> records) {

return null;

}

global override void doStart(Database.BatchableContext bc) {}

global override void doExecute(Database.BatchableContext bc, List<sObject> scope) {

List<loan__Loan_Product__c> loanProductList = (List<loan__Loan_Product__c>) scope;

for (loan__Loan_Product__c loanProduct : loanProductList) {

loanProduct.loan__Time_Counting_Method__c = 'Actual Days (366) Exclude last day';

}

update loanProductList;

}

global override void doFinish(Database.BatchableContext bc) {}

}

Upgrade steps

Following steps are mandatory to add the Actual Days (366) Exclude the last day picklist value to the Loan_Product.

Following steps are mandatory to add the Actual Days (366) Exclude the last day picklist value to the Loan Contract.

Issue Description

On the Fiscal Year Information page, while trying to change the Fiscal Year Start Date from the default month of January to some other month, the system is displaying an error message as per the different scenarios explained as follows.

Example to understand the issue

Scenario 1

There are no records in the <Fiscal Year Settings> object and the user is trying to change the Fiscal Year Start Month by performing the following steps.

Scenario 2

There are records in the <Fiscal Year Settings> object and the user is trying to change the Fiscal Year Start Month by performing the following steps.

Resolution

The issue is now fixed. After you install the latest patch that contains this fix, perform the following steps to change the Fiscal Year Start Month for each of the preceding scenarios:

For Scenario 1

There are no records in the Fiscal Year Settings.

For Scenario 2

There are records in the Fiscal Year Settings.

To update Start Date and End Date in the Fiscal_Year__c object if the user is updating Standard Fiscal Year Month to any month other than January.

Issue Description

While making a loan disbursal, the system is allowing to select inactive Bank Accounts and make the disbursements. The system must not allow the user to do a disbursement to a bank account which is currently not active.

Expected Behavior

Only the bank accounts which are marked as active should be available to select in the Bank Account field in the Loan Disbursal Transaction.

Resolution

This issue is fixed. Now, if a user tries to save a disbursal transaction where an inactive Bank Account is selected, the system is throwing the following error message and not allowing to save such a disbursement:

Issue Description

After a contract is written-off and a Payoff Quote is generated for a future date, the Interest Remaining is getting calculated for the days from the Transaction Date to the Payoff Quote date.

Example

Let us say a contract is created, approved, and disbursed. Let us say two bills are generated and the first bill is paid. After this, let us say that the contract is written-off and a Payoff Quote is generated for a future date of 6/15/2022. The Transaction Date is 5/30/2022. The Principal Balance is $952.97, Interest Remaining is $46.34 and Interest Per Diem is $0.93. The number of days between the Transaction Date and the Payoff Quote date is 16 days.

Actual Result:

Total Payoff Amount = 952.97 + 46.34 + 0.93 * 16 = 1,014.14.

Expected Result:

Total Payoff Amount = 952.97 + 46.34 = 999.31

Reason

When a Payoff Quote is generated, the unpaid interest amount (Interest Remaining) was getting added to the Total Payoff Amount if the Payoff Quote date was greater than the Transaction Date irrespective of the loan Status.

Expectation

When the status is Closed-Written off, while generating the Payoff Quote with a payoff date greater than the Transaction Date, the unpaid interest (Interest Remaining) must not get added to the Total Payoff Amount and the unpaid interest field value must be zero.

Resolution

This issue is fixed, and now when the status is Closed-Written off, while generating the Payoff Quote with a payoff date greater than the Transaction Date, the unpaid interest (Interest Remaining) is not getting added to the Total Payoff Amount and the value of the Interest Remaining on the Payoff Quote is zero.

Issue Description

The system is not displaying the following expected pop-up error message after selecting Preview while attempting to reschedule a loan contract with uncleared payments.

Resolution

The issue is now fixed by modifying the logic such that after selecting Preview, while attempting to reschedule a loan contract with uncleared payments, the system is displaying the required pop-up message.

Before the fix, if the loan contract had multiple uncleared payments, the system would display only one LPT in the error message. But after the fix, the pop-up error message is updated such that it will list out all the uncleared LPTs as follows:

Issue Description

The system is unable to create a backdated disbursal transaction for transaction date that is after the contract creation date and before the expected disbursal date.

Example to understand the issue

System is not permitting this transaction and is displaying the following error message:

Resolution

The issue is now fixed and the system is now able to create a backdated disbursal transaction for transaction date that is after the contract creation date and before the expected disbursal date.

Issue Description

The system is unable to clear an LPT which has multiple charges as some of the charges do not have a Last Accrual Date (LAD).

If multiple charges are applied at once, only the charges with an LAD is getting processed correctly. The system is ignoring the charges without an LAD.

Example to understand the issue

Resolution

This issue is now resolved and the system is clearing the LPTs with multiple charges too.

Issue Description

On a day six months before the maturity date, if a loan with (n-1) Interest Only (IO) periods, where n is the number of terms, is rescheduled, by extending the maturity date by one year, the system is displaying the following error message:

Example to understand the issue

Resolution

The issue is now fixed, and the system can now successfully reschedule a loan by extending the maturity date by one year.

Issue Description

If an unpaid capitalized charge is present on the contract, and an existing payment is reversed, Fees Remaining field is updated with this unpaid charge instead of updating the Fees Capitalized field.

This unpaid capitalized charge is not getting cleared from the Fees Remaining even after the charge is waived off.

Example to understand the behavior after the fix

Resolution

The issue is now fixed and during payment reversal, the unpaid capitalized charge amount is getting added to the Fees Capitalized field correctly.

Issue Description

On performing a rescheduling action on a loan contract, the system is calculating the balloon payment (nth payment) amount incorrectly and in turn is also updating the EMI amount incorrectly.

Example to understand the issue

Resolution

The issue is now resolved and on performing a rescheduling action on a loan contract, the system is calculating the balloon payment (nth payment) amount correctly.

Issue Description

The system is displaying the following error message during investor payout for contracts with 1000 plus active investors

Resolution

This issue is now fixed and the system is not displaying an error message during investor payout for contracts with 1000 plus active investors

Issue Description

The system is displaying an incorrect Last Transaction Timestamp due to the due to the variations in user timezones and the organization's timezone.

Following is an example of the issue:

The Salesforce database stores datetime field values in UTC format, while the UI displays them according to the timezone of the user viewing it. In this case, when last transaction timestamp takes the date value from the organization's system date and the time value from Salesforce UTC, it is resulting in an incorrect combination. Consequently, displaying an incorrect value.

Resolution

The issue is fixed, the last transaction timestamp field is now populating based on the timezone of the viewing user (company timezone).

Issue Description

When the loan is rescheduled from the Reschedule page with the Disable Autocheck Maintain Delinquency flag unchecked and the system is not displaying the following alert message is instead incorrectly generating the preview.

Resolution

The issue is now fixed and the system is displaying the alert message on the Reschedule page even when the Disable Autocheck Maintain Delinquency flag is unchecked.

Issue Description

The system is not reverting the value of the Reverse Amount for the Next Due field to the previous value after a Payoff LPT reversal.

Example to understand the issue

Resolution

The issue is now fixed and the system is reverting back the value of the Reverse Amount for the Next Due field to the previous value after a Payoff LPT reversal.

Issue Description

The system is applying multipleMotor Early Payoff Fees charges to a single loan for multiple payoff payments. Instead the system must apply the payoff penalties as follows:

Example to understand the issue

Scenario 1

Let us consider a scenario where the user creates an excess LPT to pay the payoff charge.

Scenario 2

Let us consider a scenario where the user creates an LPT of exact amount to pay the payoff charge.

Resolution

The issue is now resolved and the system is not charging multiple Motor Early Payoff Fees charges to a single loan for multiple payoff payments.

Issue Description

After an upgrade, the Lightning Experience is displaying the following errors:

Resolution

The issue is fixed now by modifying the logic such that the UI appears as expected.

Issue Description

The system is not clearing a payoff loan payment transactions on a loan contract and is displaying the following error message, when there is a frozen fee configuration on payoff fees.

Resolution

The issue is now fixed and the system is now clearing the payoff loan payment transactions on loan accounts with a frozen fee configuration without an error message.

Issue Description

On adding a pre-paid fee while disbursing a refinanced contract, the system is creating duplicate distribution of Refinanced Distribution Type and is displaying the following error message:

On regenerating distributions, the system is adding one more duplicate distribution of Refinanced Distribution Type to the list.

Example to understand the issue

Resolution

The issue is now fixed and the system is not is creating duplicate distribution of Refinanced Distribution Type.

Issue Description

When the contract status is Closed-Obligation Met, all the investors have become inactive, and the user runs the Investor Payout Job, the system is displaying the following error message:

Resolution

The issue is now fixed and the system is not displaying the error message.

Issue Description

If a payoff LPT transaction is created to payoff the loan on a non-billing date, the system calculates the regular interest and the additional interest components for the loan, but does not post them on a non-billing date. Then on the payoff date, the system generates the Interest Posting Excess-Payoff and Additional Interest Excess-Payoff and these components are paid off by the payoff amount.

The system is generating a Loan Transaction Summary for Interest Posting Excess-Payoff transaction but not for Additional Interest Excess-Payoff transaction.

Resolution

The issue is now fixed and the system is generating a Loan Transaction Summary both for the Additional Interest Excess-Payoff transaction and the Interest Posting Excess-Payoff transaction.

Issue Description

When a loan is paid off, the remaining amount on the Investment Order is getting calculated incorrectly. The remaining amount must be updated to zero.

Example to understand the issue

This issue is occurring because the investors with null priority are not getting picked up by the Investor Payout Job.

Resolution

This issue is fixed now, and the Remaining Investment Amount is getting calculated correctly.

Issue Description

For a back-dated payment, when the Investor Payout job is run, the system is calculating the Interest Accrued even after the IOs are sold.

Resolution

The issue is now fixed, and the system is not calculating the Interest Accrued for sold off IOs.

Issue Description

In the lightening mode, go to Servicing Configuration> Batch Jobs > Data Import> View Batches and select the required batch. On the Process Interface Records page although the system is displaying a record number in the Eligible Records on selecting Show/Refresh records the system is not displaying any records

Resolution

This issue is now fixed, and the system is displaying the records from the data imports.

Issue Description

After a successful execution of the DAGs, no confirmation email is received at the registered email ID.

Resolution

This issue is fixed as a confirmation email is now successfully received at the registered email ID upon successful execution of the DAGs.

Issue Description

For a back-dated payment, when the Investor Payout job is run, the system is calculating the Interest Accrued even after the IOs are sold.

Resolution

This issue is fixed and the internal logic has been modified to prevent interest from accruing for the sold off IOs when the Investor Payout job is run.

Issue Description

On attempting to process 180 payments, the LoanPaymentTxnClearingDynamicJob is failing and the system is displaying the following error message:

Resolution

The issue is now fixed by modifying the logic such that LoanPaymentTxnClearingDynamicJob is not failing and the system is not displaying any error message.

Issue Description

The system is displaying the following error message when a user is trying to create a contract with the disbursal date and payment start date both falling on a business holiday as per the Business Hours Holiday:

Example to understand the issue

Resolution

The issue is now fixed and the system is not displaying any error when the user creates a contract with the disbursal date and payment start date both falling on a business holiday.

Issue Description

The system is displaying a Null reference error when attempting to reverse an adhoc payment LPT.

Following is an example of the issue:

Resolution

The issue is fixed. Adhoc payment LPTs can now be reversed without any error.

Issue Description

The system is allowing for rescheduling to take place with the Reschedule Balance set at Principal Remaining. A pop- up message must be displayed only when the Reschedule Balance is set to Principal Remaining and Maintain Delinquency is set to False. The system must not display a pop-up message for any other combinations.

Resolution

This issue is fixed now and the system now displaying the required pop-up message.

Issue Description

During mid-cycle internal transfers or deposit to loan transfers, the system is creating excess payoff IPT. This is occurring when a payment of amount higher than the payoff balance amount is made toward the loan in the middle of the billing cycle.

In this scenario, the system is incorrectly identifying the internal transfer LPT as a payoff LPT, resulting in the generation of an additional IPT for the interest accrued up to the current date. Although the contract status remains in the active state, the surplus IPT is appearing on the statements.

An example explaining this issue

Resolution

The issue is fixed, now after the deposit-to-loan transfer, the deposit value is adjusted to reflect the transaction, ensuring that the correct comparison is made with the write-off amount.

Issue Description

When we use the API loan.PayoffQuote().getPayoffAmount() for getting the total payoff without creating the Payoff Quote record the system is the system is not considering the deposit amount in the loan while calculating the payoff and hence, the payoff amount is getting calculated with an incorrect value. For example, say there is a Deposit Amount of $5,000 in the loan, then this amount must get deducted from the Payoff Amount when Adjust Deposit in Payoff = True. However, the system is not considering this Deposit Amount and hence the Payoff Amount is calculated incorrectly.

Resolution

The issue is now fixed. The system is now considering the deposit amount and hence, calculating the payoff correctly.

Following fixed issues are ported to 4.4001.76 December'23 patch.

Issue Description

The system is unable to send notification as the Twilio integration was failing and the following error message was returned from the API.

Resolution

This is because the end point of the concerned API that was used to send the SMS was deprecated in Twilio.

Issue Description

After a backdated payment reversal in a loan where adjustment entry is enabled, with Maintain Delinquency set to True, the system is rescheduling the loan based on an incorrect Principal Remaining during a schedule Preview or Save.

Example to understand the issue

Resolution

The issue is now fixed and after a backdated payment reversal, the system is considering the correct value of Principal Remaining while rescheduling the loan with Maintain Delinquency set to True.

Issue Description

In a loan where adjustment entry is enabled, after a second disbursal reversal on the same day, the system is not updating the schedules as per the first disbursal balance, and it still remains the same as second disbursal balance.

Example to understand the issue

Resolution

The issue is now fixed by modifying the logic such that that in a loan where adjustment entry is enabled, multiple events, such as disbursal, disbursal reversal, and rate change, are occurring on the same day, then the system behaves as follows:

Issue Description

While updating the next Floating Rate Revision Date for Quarterly frequency of floating rate frequency, the backdated first funding on the contract is considering disbursal transaction created date instead of actual funding date.

Floating Rate Revision Date is a field whose value must get calculated in the future.

Therefore, as a part of the fix, if a user has not defined the Floating Rate Revision Date during the first disbursal, then the system calculates the future Floating Rate Revision Date from the first disbursal date considering the Floating Rate Revision Frequency.

For example,

If a user has defined the Floating Rate Revision Date, the system then updates the future Floating Rate Revision Rate by considering the Floating Rate Revision frequency from the defined Floating Rate Revision Date and not the first disbursal date.

For example,

Resolution

The issue is now fixed and the system is updating the Floating Revision Rate Date correctly.

Issue Description

When a backdated disbursement is reversed, the system is throwing a null pointer exception.

Resolution

The issue is now resolved, and the system is not displaying a null pointer exception for a backdated disbursement reversal.

Issue Description

LoanDepositPaymentCreationDynamicJob is run for 50,000 loan contracts that have 360 terms with FloatingRateInterestRevisionJob and every contract has undergone three reschedulings, then the system is displaying the following error message:

Resolution

The issue is now fixed andLoanDepositPaymentCreationDynamicJob is running without displaying any error.

Issue Description

The system is failing to update the interest rate as per the Floating Rate Interest in the Interest Rate Schedule attached to the contract when the disbursement occurs several days after the contract creation.

Resolution

The issue is now fixed and the system is updating the interest rate as per the Floating Rate Interest in the Interest Rate Scheduleattached to the contract when the disbursement occurs several days after the contract creation.

Issue Description

In a loan where adjustment entry is enabled, when a backdated floating index rate change is reversed, the system is not updating the value of Last Rate Change Date field on the contract correctly.

Resolution

The issue is now fixed and the system is updating the Last Rate Change Date on the contract correctly after a backdated floating index rate change reversal.

Issue Description

During payment creation, if the Adjusted Interest Non-Capitalized field is empty (null value), the system is displaying a Null pointer exception.

Resolution

This issue is now fixed and the system is not displaying a NullPointerException during a payment creation.

Issue Description

The system is displaying a Null reference error when attempting to reverse an adhoc payment LPT.

Following is an example of the issue:

Resolution

The issue is fixed. Adhoc payment LPTs can now be reversed without any error.

Issue Description

After a contract is written-off and a Payoff Quote is generated for a future date, the Interest Remaining is getting calculated for the days from the Transaction Date to the Payoff Quote date.

Example

Let us say a contract is created, approved, and disbursed. Let us say two bills are generated and the first bill is paid. After this, let us say that the contract is written-off and a Payoff Quote is generated for a future date of June 15, 2022. The Transaction Date is May 30, 2022. The Principal Balance is $952.97, Interest Remaining is $46.34 and Interest Per Diem is $0.93. The number of days between the Transaction Date and the Payoff Quote date is 16 days.

Actual Result:

Total Payoff Amount = $952.97 + $46.34 + $0.93 * 16 = $1,014.14.

Expected Result:

Total Payoff Amount = $952.97 + $46.34 = $999.31

Reason

When a Payoff Quote is generated, the unpaid interest amount (Interest Remaining) was getting added to the Total Payoff Amount if the Payoff Quote date was greater than the Transaction Date irrespective of the loan Status.

Expectation

When the status is Closed-Written off, while generating the Payoff Quote with a payoff date greater than the Transaction Date, the unpaid interest (Interest Remaining) must not get added to the Total Payoff Amount and the unpaid interest field value must be zero.

Resolution

This issue is fixed, and now when the status is Closed-Written off, while generating the Payoff Quote with a payoff date greater than the Transaction Date, the unpaid interest (Interest Remaining) is not getting added to the Total Payoff Amount and the value of the Interest Remaining on the Payoff Quote is zero.

Issue Description

For a batch size of 200, Start of Day job and Interest Posting job are failing with an exception Too many DML rows.

Resolution

The issue is now fixed and Start of Day job and Interest Posting job are working without displaying an exception.

Issue Description

On the reschedule page, when the setting of the Maintain Delinquency flag is switched from True to False or vice verse, the system is calculating the amortization schedule correctly only for the initial setting, but it is not updating the amortization schedule with the update in the Maintain Delinquency flag.

Example to understand the issue

Resolution

The issue is now fixed, and the system is generating the updated amortization schedule correctly even after the settings of the Maintain Delinquency flag are changed.

Issue Description

When a charge is waived off, the Transaction Amount in an LPT is getting calculated incorrectly.

This is because the waived charge is getting incorrectly considered in the bill. The waived charge should not satisfy the fee against the bill when the fee is not included in the bill.

Example to understand the issue

Resolution

This issue is fixed, the charge is not getting considered in the bill and the Transaction Amount is getting calculated correctly.

Issue Description

The system is displaying the following errors when the user is trying to reverse an LPT for a parent record with more than 200 child records assigned directly to a list:

Resolution

The issue is now fixed by modifying the logic and the system is not displaying an error when the user is trying to reverse an LPT for a parent record with more than 200 child records assigned directly to a list.

Issue Description

In a loan with fee included, if a bill is paid during the pre-bill days, the bill is getting satisfied with a lesser payment amount.

Example to understand the issue

Resolution

This issue is fixed now, and the bill is getting satisfied with the correct amount even when the payment is done before or after the bill due date.

Fixed Version

This issue has been fixed in the following version:

Issue Description

ExcessForAmzBasedLoans job is failing and displaying the following error message, while creating a payments for Closed-Written-off contracts:

Resolution

The issue is now fixed and the loan contracts with the Closed -Written -off or Closed- Obligation Met statuses are not being considered for the execution of the ExcessForAmzBasedLoans job.

Issue Description

When LPTs are created for investor loan accounts, the Paid to Investor flag is being set to true incorrectly even though the LPT is not creating ILTID.

Example to understand the issue

Resolution

The issue is fixed now, by adding a condition that ensures that the Paid to Investor flag is not set to true if the amount is not paid to the investor.

Issue Description

During the interest waive off, on selecting 100% as waive percentage, the system is incorrectly displaying waive amount as the total regular interest posting amount + total additional interest posting amount, instead of displaying only the total regular interest posting amount.

After completion of the waiver action activity using the percentage field on the Waiver Action page, the regular interest is getting waived off, but the system is still displaying the additional interest as the Excess on the loan.

Example to understand the issue

Resolution

This issue is now fixed, and the system is displaying only the total regular interest posting amount, after completion of the waiver action using the percentage field on the Waiver Action page.

Issue Description

As the Excess for Amortization Based Loans job is not checking the status of contract, the system is creating Excess LPT every day after a loan payoff. Ideally, the system must not create excess LPTs for a closed contract.

Resolution

The issue is now fixed, and the system does not create Excess LPTs after the Loan is Closed -Obligation met status.

Issue Description

After an upgrade, the system is displaying the value in a different format than usual. Normally, the system displays two digits after the decimal point, for example, $77.10 or $77.00. However, it is currently only displaying one digit after the decimal point $77.1 or $77 and is ignoring the last zeros after the decimal point.

Resolution

This issue is now fixed. The system is now displaying the zeros after a decimal point.

Issue Description

During a reschedule, the system is displaying the following error message:

Resolution

This issue is now fixed, and user can reschedule without any issue.

Issue Description

When a paid charge is waived and then the reversal of paid charge is tried, the charge is not getting marked as unwaived and the system is not displaying a message.

When a reversal of a waived paid charge is tried, the system must not allow it and must display a validation message.

Resolution

This issue is fixed, and the system now displays the following message when you try to reverse the waiver of a paid charge:

"Paid charge waiver reversal is not allowed."

Issue Description

Previously, even when the Start Date on the Interest Rate Schedule matched the Disbursal Date, the system would display an error message on the Interest Rate Schedule page. This is because the system was incorrectly validating the Interest Rate Schedule’s Start Date by comparing it to the Expected Disbursal Date rather than the Accrual Start Date resulting in the following error message:

Resolution

This issue is now fixed. The Start Date of the rate schedule is now validated by comparing it to the Accrual Start Date rather than the Expected Disbursal Date. Thus the error message is only displayed if the Interest Rate Schedule Start Date is greater than or equal to the Accrual Start Date.

Following are the various scenarios to understand the system behavior before and after the fix:

Issue Description

With Enable Adjustment Entry flag set to true, on an LPT reversal, the system is updating the Interest Accrued and the Excess incorrectly.

Example to understand the behavior after the fix

Resolution

This issue is now fixed, and the logic is modified to support loans with Enable Adjustment Entry set to true for LPT.

If a regular LPT is reversed, Excess decreases. Conversely, if an Excess Type LPT or Refund LPT is reversed with Enable Adjustment Entry flag set to true, Excess increases because these LPTs are sources of input for Excess. In all other scenarios, in accordance with the original logic, the system will not update the Excess for an LPT reversal.

Issue Description

Following issues related to waiver and payment reversal are observed:

Resolution

These issues are fixed, and the system is working as expected.

Issue Description

If the Interest Remaining is negative before the user does a backdated disbursement, the system ignores the negative Interest Remaining amount and treats it as zero when performing the backdated disbursement.

Example to understand the behavior after the fix

Resolution

The issue is now fixed by modifying the Enable Adjustment Entry logic to consider the negative Interest Remaining while performing the backdated disbursement.

Issue Description

For a loan contract where Enable Adjustment Entry flag is set to true, upon creating the following transactions in the following order on April 12, 2023, for a Transaction Date of April 10, 2023:

and then reversing them in the following order on the next day, April 13, 2023:

it was observed that until the reversal of the backdated interest, the total interest due (balance interest) on the loan was correct. However, after reversing backdated principal payment, total interest due is incorrect.

This is because, after reversing the backdated principal payment, the Excess field is displaying an incorrect value resulting in the total payoff amount due on the contract getting reduced by the excess amount.

Resolution

This issue is fixed, and the system is working as expected when a principal payment is reversed in a loan where Enable Adjustment Entry flag is set to true.

Enhancement Description

Earlier, the system supported automatic interest adjustment for backdated transactions such as backdated payments, backdated payment reversals, and backdated interest waivers.

As part of this patch, the system supports automatic interest adjustment for backdated rate change as well.

This means that you can now perform a backdated rate change before an LAD.

This enhancement can be availed by making a backdated rate change via the RateChange page that can be accessed by going to Loan Quick Menu > Loan Actions > Rate Change.

If a contract has a floating rate attached to it, and when the system encounters the date of floating rate revision, FloatingRateInterestRevisionJob job runs automatically. If this job fails dues to any reason, then the floating rate revision does not take place. In such scenarios, on the next day, when this job runs as part of the SOD, the floating rate gets changed using automatic interest adjustment (adjustment entry).

(Note: When there is a floating rate in the contract, then the interest rate changed using the UI is not honored. To change the floating rate, you must add it in the floating rate schedule for the required date.)

Enhancement Description

Earlier, the system supported automatic interest adjustment for backdated transactions such as backdated payments, backdated payment reversals, and backdated interest waivers.

As part of this patch, the system supports automatic interest adjustment for backdated rate change reversals as well, as long as the reversal occurs as the final LAD event on the loan. However, if you want to reverse a rate change before any other LAD event on the loan, then you must do so by providing the previous interest rate on the intended back date.

Enhancement Description

Earlier, the system supported automatic interest adjustment (Adjustment Entry) for backdated transactions such as backdated payments, backdated payment reversals, and backdated interest waivers.

As part of this patch release, the system supports the automatic interest adjustment for backdated disbursements and backdated principal adjustments as well.

This means that you can now do a backdated disbursement or backdated principal adjustment before an LAD.

This enhancement can be availed by making a backdated disbursement or a backdated principal adjustment via the UI.

Enhancement Description

Earlier, the system supported automatic interest adjustment (Adjustment Entry) for backdated transactions such as backdated payments, backdated payment reversals, and backdated interest waivers.

As part of this patch release, the system supports the automatic interest adjustment for backdated disbursement reversals as well.

What this means is that, earlier, before this enhancement, you could reverse the disbursal transaction only if the disbursal was the final LAD event in the contract. The system did not allow you to reverse a disbursal transaction that was done before any other LAD event. As part of this enhancement, the system allows you to reverse the disbursal transaction that occurred before any LAD event except the first disbursal done on the loan. You can reverse the first disbursal on the loan only if there is no other LAD event on the loan. You cannot reverse a disbursal if the Principal Remaining on the loan is smaller than the disbursal transaction the user wants to reverse. After a disbursement reversal, the system archives all the existing repayment schedules and generates a new one. Reversal of Principal Adjustment Add also behaves in the same way as disbursal reversal.

Issue Description

The system is displaying the following error while generating a future dated payoff quote:

Example to understand the issue

Resolution

The issue is now fixed and the system is not displaying any error while generating a future dated payoff quote.

Enhancement Description

A new method called the adjustLoanAmount is added to AbstractLoanAction class.

adjustLoanAmount

This method is used for the for the adjustment of the loan amount.

Method signature

Method parameters

Usage/How to Invoke

loan.LoanActionFactory lAFactory = new loan.LoanActionFactory();

loan.AbstractLoanActions abstractLoanActions = lAFactory.getLoanActionsAPI();

labstractLoanActions.adjustLoanAmount(Id loanId,

Decimal loanAdjAmount,

Date transactionDate,

Date drawPeriodEndDate,

String reference)