Loan Fee Calculator
The Loan Fee Calculator screen allows the User to view the Borrower’s loan and collateral information in order to assess a fee, while also giving the flexibility to choose what values will be included in the fee calculation and how the fee will be calculated. Once the User has chosen the calculation parameters on the screen, the application will calculate the fee amount for the Borrower’s loan account. Once the calculated fee is displayed on the screen the User can then launch the existing DNA Fee Receipt, Deferred Fee Receipt or Loan Charge screens which display a message which includes the calculated fee amount so that the monetary transaction can then be posted to the Borrower’s loan account.
The new functionality will especially assist Loan Officers who need to review a Borrower’s loan and collateral information in order to assess a fee (such as a commitment or renewal fee), but want the ability to calculate the fee on a relationship-by-relationship basis. As every commercial loan is unique, this allows the user to effectively perform "relationship pricing" for their commercial loan portfolios.
The user has the flexibility to calculate a fee based on factors such as:
- Note Balance
- Over Credit Limit
- Overdue Principal
- Fixed Amount
- Credit Limit
- Unused Credit Limit
- Interest Rate
- Number of Days or Months that the fee calculation will be based on
- Percentage Rate inputted by the user (along with the Interest Base)
No additional requirements.