Can we use Arrears for Insurance Payments so that they Align with Arrears Rent payments?
Last updated on OCTOBER 05, 2017
Applies to:Oracle Lease and Finance Management - Version 12.2.6 and later
Information in this document applies to any platform.
Loan contracts are booked with the loan payments (principal and interest) in arrears. When an insurance policy is added the insurance payment streams are in advance. The result is a mismatch in the payments, especially at the start when only insurance is billed and the end when only the principal and interest bill. Is there a way to make the insurance payment also in arrears so that the payment dates for that match the principal and interest dates?
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