Creating a loan account (CL Contract)

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Creating a loan account (CL Contract)

Description

This web service creates a Loan Account for the marketplace. It commits an object of type Loan Account(loan__Loan_Account__c) to the database.

Definition

POST
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https://<domain>/services/apexrest/peer/v1/loanAccounts

Parameters 

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

Fields
Type
Description

borrowerId*

 String

  • This is the identity of the borrower.

  • The value that you pass is compared against a pre-defined attribute of the Account object which acts as the primary key

  • You can define the attribute using the  Account ID Field of the  API Configuration custom setting
loanProductId* String

  • This is the identity of the loan product.

  • The value that you pass is compared against a pre-defined attribute of the Loan Product object which acts as the primary key

  • You can define the attribute using the  Loan Product ID Field of the  API Configuration custom setting

loanAmount*

 Decimal

  • This is the amount for the loan.

  • It must be a positive decimal.

firstInstallmentDate*

 Date

  • This is the first payment date for the loan

expectedDisbursalDate*

 Date

  • This is the expected disbursal date of the loan

term*

 Integer

  • This is the term for the loan. 

  • It must be a positive integer

interestRate

 Decimal

  • This is the interest rate of the loan.

  • If you pass null, the default interest rate from the Loan Product is considered

purpose

 String

  • This is the purpose of the loan

  • This must be a predefined value in the system 

  • Loan purposes can be defined in the  Administrative Setup of Lending Core. The page for defining a new loan purpose is<domain>/apex/loan__loanPurpose

frequencyOfPayment

 String

  • This is the frequency of loan payment 

  • This should be one of the following {Daily, Weekly, Bi-weekly, Semi-Monthly, Monthly, Bi-Monthly, Quarterly, Semi-Annual, Annual, SinglePmt}
interestOnlyPeriod Integer

  • This is the number of payments for which only the Interest is considered and after that, it considers both the Principal and Interest.

  • This must be a non-negative integer
balloonPayment Decimal

  • This is the heavy payment to be paid at the end of the schedule
ach Boolean

  • This should be true if recurring ACH is to be set up. ACH defaults with the first payment date and payment amount
bankId String

  • This is the Id of the Bank for ACH payments

  • If you pass null, the borrower's bank id is considered.
eodAccrualType String

  • This parameter is used to calculate the end of the day interest and holds one of the two values: 

    • Accrual Through Date

    • Accrual To Date
eodFeeAccrual Boolean

  • This parameter is used to enable EOD fee accrual.

  • If true, the fee accrual job is run as part of the end of the job process.

Error messages

When you use this 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 an error occurs while parsing Request parameters

400

INVALID_INPUT

Account Id is null

ACCOUNT_ID_NULL

You will receive this error if the Borrower Account Id (borrowerId) is not specified in the Request Parameters

400

INVALID_INPUT

Unable to find the Account

ACCOUNT_NOT_FOUND

You will receive this error if no record exists in the system for the Borrower Account Id (borrowerId) specified in the Request Parameters

400

INVALID_INPUT

Loan Product Id is null.

LOAN_PRODUCT_ID_NULL

You will receive this error if no record exists in the system for the Loan Product Id (loanProductId) specified in the Request Parameters

400

INVALID_INPUT

Loan amount is not valid

LOAN_AMOUNT_NOT_VALID

You will receive this error if the Loan amount is either null or a nonpositive number

400

INVALID_INPUT

Term is not valid

TERM_NOT_VALID

You will receive this error if the Term is either null or a nonpositive number

400
INVALID_INPUT One of the dates is null DATE_NULL You will receive this error if the first payment date(firstInstallmentDate) and/or expected disbursal date(expectedDisbursalDate) is/are null

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
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https://na11.salesforce.com/services/apexrest/peer/v1/loanAccounts
Example 1
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{
    "borrowerId" : "001G000001KY8by",
    "loanProductId":"a1gG00000019OFe",
    "loanAmount":10000,
    "term":12,
    "expectedDisbursalDate":"2012-12-22",
    "firstInstallmentDate":"2013-01-09"
}
Example 2
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{
    "borrowerId" : "0016g000007sR4d",
    "loanProductId" : "a8B6g000000gKyS",
    "loanAmount" : 10000,
    "term" : 10,
    "interestRate" : 10,
    "purpose" : "a8D6g000000PVfJ",
    "expectedDisbursalDate" : "2017-08-01",
    "firstInstallmentDate" : "2017-09-01",
    "eodAccrualType" : "Accrual To Date",
    "eodFeeAccrual" : true
}

Sample response

This sample response contains the newly created loan account for the given borrower. The sample response that you will receive is as shown below:

Sample Response
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{
    "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/a1WG00000050d9yMAA"            
            },
            "loan__First_Installment_Date__c": "2013-01-09",
            "RecordTypeId": "012G0000000rvE4IAI",
            "loan__Fee_Set__c": "a12G0000001MbEDIA0",
            "loan__Repayment_Procedure__c": "Equal Monthly Installments",
            "peer__Origination_Fee__c": 200,
            "loan__Disbursal_Date__c": "2012-12-22",
            "loan__Interest_Type__c": "Fixed",
            "loan__Loan_Status__c": "Partial Application",
            "loan__Expected_Disbursal_Date__c": "2012-12-22",
            "loan__Expected_Repayment_Start_Date__c": "2013-01-09",
            "loan__Loan_Amount__c": 10200,
            "loan__Account__c": "001G000001KY8byIAD",
            "peer__Note_Type__c": "a3PG00000000iBbMAI",
            "loan__Last_Installment_Date__c": "2013-12-09",
            "loan__LA_Amortization_Enabled__c": false,
            "loan__Contractual_Interest_Rate__c": 9.1,
            "loan__Pre_Bill_Days__c": 0,
            "loan__Interest_Rate__c": 9.1,
            "loan__Number_of_Installments__c": 12,
            "loan__Frequency_of_Loan_Payment__c": "Monthly",
            "loan__Contractual_Due_Day__c": 9,
            "loan__Overdue_Interest_Rate__c": null,
            "loan__Loan_Product_Name__c": "a1gG00000019OFeIAM",
            "loan__Write_off_Tolerance_Amount__c": 0,
            "loan__Grace_Period_for_Repayments__c": 0,
            "loan__Branch__c": "a1zG0000000LezuIAC",
            "Id": "a1WG00000050d9yMAA",
            "loan__Interest_Calculation_Method__c": "Declining Balance",
            "loan__Delinquency_Grace_Days__c": 0,
            "loan__Time_Counting_Method__c": "Month and Days",
            "loan__Interest_Only_Period__c": null,
            "loan__Balloon_Payment__c": 0
        }
    ]
}

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