Need LNS: Mass Update Floating Rate Loans to Update by Date or Installment
Last updated on NOVEMBER 21, 2017
Applies to:Oracle Loans - Version 188.8.131.52 and later
Information in this document applies to any platform.
You need 'LNS: Mass Update Floating Rate Loans' to update loans by date or installment.
The LNS: Mass Update Floating Rate Loans program updates by installment only. It is currently not possible to update by date.
If the installment date is 01-May to 31-May, and the interest rate changes on 20-May from 3% to 4%, the system should calculate 19 days at 3% (May 1-19), and 12 days at 4% (May 20-31).
Currently, the system will calculate 4% for the entire installment, as the rate change is by installment only.
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