April 2024 Change Record
New features
The following table lists the new features added to Q2 Loan Servicing User Guide for Simple Loans for the April 2024 release:
| Serial Number | Feature | Link to the section |
|---|---|---|
| 1 | Calculation and Application of Payoff Fees during Payoff |
Apply Prepayment Penalty Fee
Note:
The new feature is documented as part of the existing topic, Apply Prepayment Penalty Fee. |
Enhancements
The following table lists the new enhancements made to the existing features in the Q2 Loan Servicing User Guide for Simple Loans for the April 2024 release:
| Serial Number | Feature | Enhancement | Link to the section |
|---|---|---|---|
| 1 | Automatic Interest Adjustment | Regular payment satisfies the Adjusted Interest Capitalized value before other interest values. | Automatic Interest Adjustment > Example: Regular payment when there is some Adjusted Interest Capitalized value within the loan |
Documentation enhancements
The following table lists the enhancements made in the documentation of the Q2 Loan Servicing User Guide for Simple Loans Guide in the April 2024 release:
| Serial Number | Topic | Link to the section | Remarks |
|---|---|---|---|
| 1 | Time Counting Methods | Interest Calculations using Time Counting Methods | This topic has been updated with additional examples and information to make it more elaborate and easy to understand. |
Q2 Loan ServicingUser Guide for Simple Loans