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A Loan is Fully Paid but Continues to Bill Interest Amounts (Doc ID 2915399.1)

Last updated on MAY 20, 2024

Applies to:

Oracle Loans - Version 12.1.3 to 12.2.12 [Release 12.1 to 12.2]
Information in this document applies to any platform.

Symptoms

When creating a manual bill for the remaining amount of the loan, the amortization schedule still shows interest amounts for the remainder of the loan, and will bill those amounts if LNS: Loans Billing is run.


Steps to Reproduce:

Responsibility: Loan Agent
Navigation: Loans Dashboard

  1. Create a loan for $10,000
  2. Either before or after the loan is billed, create a manual bill for the remaining amount of the loan and pay that manual bill.
  3. Even though the customer has paid the balance of the loan, the loan remains in Active status and the amortization schedule shows interest amounts, but no principal.

Cause

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In this Document
Symptoms
Cause
Solution


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