Payment Amount Changes To The Same Amount As The First Payment For All Payments On Amortization Schedule (Doc ID 2162534.1)

Last updated on JULY 31, 2017

Applies to:

Oracle Loans - Version 12.1.3 and later
Information in this document applies to any platform.

Symptoms

On : 12.1.3 version, Oracle Loans

ACTUAL BEHAVIOR
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Payment Amount changes to the same amount as the first Payment for all Payments on Amortization Schedule.
If  the first payment on the Amortization schedule is different from the rest of the payments on the schedule, all payments change to the same amount as the first payment after the billing is run (LNS: Billing).

EXPECTED BEHAVIOR
---------------
The amortization of the payments should stay the same as the Original Amortization and not change to be all the same as the first payment when running the first billing

 

STEPS
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Responsibility: Loans Agent
1. Create a new loan > Save and Add Details
2. Go to Interest Rates tab and change the Payment Start Date to a future
date and select option Service Based On Approved Amounts
3. Approve loan
4. Run LNS: Billing
5. Re-query the loan and check the Amortization Tab, Payment field > Payment
Amount does not change to the same amount as the first Payment for all Payments on Amortization Schedule

Cause

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