Incorrect Beginning Balance Calculated for a Loan When Updating or Adding a Custom Amortization Schedule (Doc ID 2988608.1)

Last updated on MAY 20, 2024

Applies to:

Symptoms

The beginning balance for a loan is incorrectly calculated after attempting to update or add a custom amortization schedule.

This happens when the terms of the custom amortization schedule do not match the original terms of the loan in question.

Responsibility: Oracle Loans
Navigation: Loans Dashboard > Servicing > Payments > Amortization Schedule - Current >

1. Click the Upload Button > Upload Custom Schedule > Choose File > select Spreadsheet with the edited Amortization Schedule > Click the Upload Button
2. The beginning balance changes to zero, or it has an incorrect value
3. Other amounts that may be incorrect are: Unpaid Principal, Unpaid Interest, and Ending Balance

Changes

 The terms of the custom amortization schedule do not match the original terms of the loan

Cause

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