Collect service fee on principal remaining

Instead of charging investors a service fee on total principal amount, lenders can charge service fee on just the principal remaining. Lenders can select the required option while setting up service fee calculation on an investment order.

If you are upgrading to CL Loan 2.3007 or later, you must do the following, to enable this option:

• Add Principal Remaining option to the Collect Service Fee On picklist in the Investment Order and Account objects. For steps to do this, refer to section Modify the Drop Down List.
• Add "Collect Service Fee on Principal Remaining" checkbox to the Fractionalization Parameters. For steps to do this, refer to section Modify Org Parameters.

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