Funding Loan Applications

Description

This method funds a loan application. As a part of funding, it disburses the associated loan, and creates corresponding investment orders for bookings that are associated with the loan application. The status of the Loan Application is changed to Funded. Also, the status of the corresponding loan account changes to Active-Good Standing.

In CL Marketplace versions prior to 2.4010, only loan distribution transactions are created while funding the loan application, whereas if the disbursal occurs through CL Loan, all amounts are included in the disbursal distributions, for example, any pre-paid fees applicable on the contract. In CL Marketplace 2.4010 and later releases, the behavior is consistent with CL Loan's disbursal action behavior.

For more information, refer to Disbursement.

Definition

POST https://<domain>/services/apexrest/peer/v1/loanApplications/fund/*

Parameters

The table given below provides details of the request parameters used by this web service:

Fields	Type	Description
loanAppId*	String	This is used to identify the loan application. This should be passed in the URL as specified under the sample request The value that you pass is compared against a pre-defined attribute of the Loan Application (peer__Loan_Application__c) object which acts as the primary key You can define the attribute using the Loan Application ID Field of the API Configuration custom setting
amount	Decimal	This is the loan amount of the loan application which is to be funded This must be a positive integer If you pass null, Amount In Funding of the loan application is considered
fundingDate	Date	This is the date on which the loan is to be funded If you pass null, the current system date is considered
disbursalDate	Date	This is the new disbursal date of the loan application If you pass null, the expected disbursal date entered at the time of loan application is considered
term	Integer	This is the new term of the loan application This must be a positive integer If you pass null, the original term of the loan application is considered
interestRate	Decimal	This is the new interest rate of the loan application If you pass null, the original interest rate of the loan application is considered
firstRepaymentDate	Date	This is the new date of repayment of the first installment If you pass null, the original first repayment date of the loan application is considered
accountId	String	This is the ID of the borrower account and is a parameter related to SMS verification It is ignored, if SMS verification is disabled
sms_Token	String	This is the SMS token to be verified and is a parameter related to SMS verification It is ignored, if SMS verification is disabled
sms_Unique_Id	String	This is the unique ID related to the SMS token and is a parameter related to SMS verification It is ignored, if SMS verification is disabled
ipaddress	String	It is ignored, if SMS verification is disabled

Error messages

When you post a web service, you can receive the possible error messages as shown in the table below:

Error Code	Error Message	System.Label	Reason	HTTP Status Code
INVALID_INPUT	Unable to parse the Request parameters	UNABLE_PARSE_REQ_PARAMS	You will receive this error if the error occurs while parsing request parameters	400
INVALID_INPUT	Loan Application Id is null	LOAN_APPLICATION_ID_NULL	You will receive this error if the loan Application Id (loanAppId) is not specified in the URL	400
INVALID_INPUT	Unable to find the Loan Application	LOAN_APPLICATION _NOT_FOUND	You will receive this error if no record exists in the system for the Loan Application Id (loanAppId) specified in the URL	400
SMS_ERROR	SMS Parameters are not provided	NO_PARAMS_SMS	You will receive this error if the parameters required for SMS verification are not specified in the request parameters	401
SMS_ERROR	SMS verification failed.	INCORRECT_SMS	You will receive this error if the SMS verification has failed	401
SMS_ERROR	SMS has been resent maximum allowed times	MAX_RETRY_SMS	You will receive this error if the maximum limit of SMS retries has been reached	401
SMS_ERROR	SMS has already been verified	VERIFIED_SMS	You will receive this error if the SMS has been verified already	401
SMS_ERROR	SMS verification has been timed out	TIMEOUT_SMS	You will receive this error if the SMS has timed out	401
API_EXCEPTION	Loan Application cannot be funded	CANNOT_FUND_LOAN_APP	You will receive this error if the loan application cannot be funded due to insufficient funding. The Funding threshold can be set using the Minimum Funding Percentage in Auto Portfolio Admin Params custom settings.	500
API_EXCEPTION	<exception_message>	NA	You will receive this error if any validation fails or any unexpected error occurs during the processing of the request, the system will raise the exception.	500

Sample Request

The sample request to be sent is as shown below:

POST https://na11.salesforce.com/services/apexrest/peer/v1/loanApplications/fund/a2qG00000009Ohf

{  
   "amount":15000
}

Sample Response

This sample response contains the newly created loan application for the given borrower. The sample response is as shown below:

{  
   "status":"SUCCESS",
   "response":[  

   ],
   "errorMessage":null,
   "errorCode":"NO_ERROR",
   "content":[  
      {  
         "attributes":{  
            "type":"loan__Loan_Account__c",
            "url":"/services/data/v30.0/sobjects/loan__Loan_Account__c/a1WG00000050ZueMAE"         },
         "loan__Ach_Debit_Day__c":23,
         "loan__First_Installment_Date__c":"2014-07-23",
         "loan__ACH_Debit_Amount__c":1311.77,
         "loan__Interest_Rate__c":9,
         "loan__Fee_Set__c":"a12G0000001MbEDIA0",
         "peer__Origination_Fee__c":294.11764705882354,
         "loan__Number_of_Installments__c":12,
         "loan__ACH_Start_Date__c":"2014-07-23",
         "peer__VAT__c":true,
         "Name":"LAI-00012476",
         "loan__Loan_Status__c":"Approved",
         "loan__Expected_Disbursal_Date__c":"2014-06-23",
         "loan__ACH_End_Date__c":"2015-06-23",
         "loan__Loan_Product_Name__c":"a1gG00000019OFeIAM",
         "loan__ACH_Next_Debit_Date__c":"2014-07-23",
         "peer__Disbursement_Schedule__r":{  
            "totalSize":3,
            "done":true,
            "records":[  
               {  
                  "attributes":{  
                     "type":"peer__Disbursement_Schedule__c",
                     "url":"/services/data/v30.0/sobjects/peer__Disbursement_Schedule__c/a3SG00000009SjHMAU"                  },
                  "Name":"DST-000000234",
                  "peer__Name_of_Entity__c":"Loan Disbursement",
                  "peer__Reference__c":"Loan Disbursement",
                  "peer__Amount__c":14705.882352941177,
                  "peer__Loan_Account__c":"a1WG00000050ZueMAE",
                  "Id":"a3SG00000009SjHMAU",
                  "peer__Loan_Disbursal_Transaction__c":"a1ZG00000003ehHMAQ"               },
               {  
                  "attributes":{  
                     "type":"peer__Disbursement_Schedule__c",
                     "url":"/services/data/v30.0/sobjects/peer__Disbursement_Schedule__c/a3SG00000009SjIMAU"                  },
                  "Name":"DST-000000235",
                  "peer__Name_of_Entity__c":"VAT Deposit",
                  "peer__Reference__c":"VAT Deposit",
                  "peer__Amount__c":44.87,
                  "peer__Loan_Account__c":"a1WG00000050ZueMAE",
                  "Id":"a3SG00000009SjIMAU",
                  "peer__Loan_Disbursal_Transaction__c":"a1ZG00000003ehHMAQ"               },
               {  
                  "attributes":{  
                     "type":"peer__Disbursement_Schedule__c",
                     "url":"/services/data/v30.0/sobjects/peer__Disbursement_Schedule__c/a3SG00000009SjJMAU"                  },
                  "Name":"DST-000000236",
                  "peer__Name_of_Entity__c":"Origination Fee Deposit",
                  "peer__Reference__c":"Origination Fee Deposit",
                  "peer__Amount__c":249.24764705882353,
                  "peer__Loan_Account__c":"a1WG00000050ZueMAE",
                  "Id":"a3SG00000009SjJMAU",
                  "peer__Loan_Disbursal_Transaction__c":"a1ZG00000003ehHMAQ"               }
            ]
         },
         "loan__Expected_Repayment_Start_Date__c":"2014-07-23",
         "Id":"a1WG00000050ZueMAE",
         "loan__Loan_Amount__c":15000
      }
   ]
}