Waived interest payment type

You can waive off the accrued interest on a loan or LOC contract using the Waive Interest loan action. The payment transaction with Payment Type of "Waived" is created for the interest waiver.

If you are upgrading to CL Loan 2.4008 or later, you must add the Payment Type field to the Loan Payment Transaction custom object.

For steps to do this, refer to section Modify the Page Layout.

Recommended layout