Funded Amount of Loan Appears Under the 'Payment' Column in the Amortization Table Even When Not Yet Billed
(Doc ID 2966700.1)
Last updated on AUGUST 14, 2023
Applies to:Oracle Loans - Version 12.1.3 and later
Information in this document applies to any platform.
A loan has been funded for partial amount and not yet billed. When querying the Amortization Schedule, the funded amount is listed under the 'Payment' column and appears to reduce the loan.
Responsibility: Loans Responsibility
Navigation: Origination tab
1. Created a Loan and save
2. Modify the Term and Amount. For instance, increase the loan amount from 20,000 to 25,000
3. The Check box "Service Based On Approved Amounts" is checked and the FIRST_PAYMENT_DATE = LOAN_MATURITY_DATE
4. Loan gets funded for a partial amount. For instance 1,000
5. Click on the Amortization Schedules tab
6. The funded amount of 1,000 is listed under the 'Payment' column of the Amortization Schedule, and appears to reduce the Loan amount, although it is not billed yet
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