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Step Rate (Promotion ) Loans Have Wrong Repayment Schedule (Doc ID 2745827.1)

Last updated on JANUARY 23, 2021

Applies to:

Oracle Financial Services Lending and Leasing - Version 14.5.0.0.0 and later
Information in this document applies to any platform.

Symptoms

On : 14.5.0.0.0 version, Production Support-SET

ACTUAL BEHAVIOR
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Step rate (Promotion ) Loans have wrong repayment schedule, when uses the Calculate Payment Option on Contract screen


EXPECTED BEHAVIOR
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System should display the correct repayment schedule when user use the calculate payment option on contract screen.

STEPS
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The issue can be reproduced at will with the following steps:
1. Setup IRT Promotion based loan i.e 5 Year (60 term ) 5.45%, and then Next 15 years 6.4%
2. Use Tools to calculate the payments, Copy to the contract, it copies correctly as 60/180 payments schedule
3. Then Use the Calculate Payment Option on Contract screen, Repayment schedule changed from 60/180 payments to 239 and 1 payment schedule

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, users cannot use calculate payment option in contract screen for repayment schedule.

Cause

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In this Document
Symptoms
Cause
Solution


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