Error encountered when changing Principal Payment Start Date - 'Principal Payment Start Date - Payment Start Date must be later than Last Bill Due Date'
(Doc ID 2560072.1)
Last updated on DECEMBER 03, 2019
Applies to:Oracle Loans - Version 12.1.3 and later
Information in this document applies to any platform.
When attempting to change the principal start date of a loan in Interest Rate tab, the following error occurs.
Principal Payment Start Date - Payment Start Date must be later than Last Bill Due Date.
Example Loan -
1. Create a Direct Loan
2. Loan Start Date 01-JAN-2019
3. Loan Term 12 Months
4. Funded Amount 30,000.00 USD
5. Amortization Method Separate Schedules
6. Principal Payment Start Date 01-Mar-2019
7. Interest Payment Start Date 01-Feb-2019
8. Approved the Loan
9. Made the Disbursement of the loan on 01-JAN-2019.
10. Loan Status becomes "Active: Fully Funded"
11. Submitted the concurrent request - LNS: Billing for the Due Dates - 01-FEB-2019 (Payment Number 1) and 01-MAR-2019 (Payment Number 2)
12. Now the borrower approaches the lender to extend the Principal Payment Start Date to 01-JUL-2019
13. The user is attempting to add a new row for Principal Start Date - 01-JUL-2019 and click apply
Error Message is shown: 'Principal Payment Start Date - Payment Start Date must be later than Last Bill Due Date.'
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