Payment schedule revision during business holidays

If the payment date falls on a business holiday, lenders can choose to move the payment date ahead or prior to the next available working day. This behavior is set at the product level using two fields - Schedule Adjustment Method and Move Schedule Across Months.

The "Move Schedule Across Months" specifies the system behavior for payments falling on the first or last day of the month. For more information on adjusting payment schedules, refer to section Creating a Simple Loan Product.

Upgrading customers need to add the Schedule Adjustment Method and Move Schedule Across Months field to the following layouts of the Lending Product object:

• Amortization Based Loan Product Layout
• Line of Credit Product Layout
• Loan Product Layout

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

Recommended layout