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Loan Payment Recalculation

By Fiserv

This DNAapp provides the flexibility for loan accounts to have the contractual payment amounts recalculated either on advance, on rate change, on advance and/or rate change, or on demand.

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Meta information

Platform

DNA

Category

Consumer Lending

Overview

This application provides the flexibility for loan accounts to have the contractual payment amounts recalculated either on advance, on rate change, on advance and/or rate change, or on demand. The calculations can vary by product and payment amounts can be calculated using percentages, varying terms, and multiple types of tiered processes. Additionally, minimum payment amounts may also fluctuate. This application supports the use of an alternate payment amount and also considers Non Financed Debit Protection Premiums (SINS) included in the calculated total monthly payment.  

 

Benefits

This application enables financial institutions to configure payment recalculations using a variety of methods for simple interest loans based on product/account settings.

App Information

Version
1.4.0.3 - Published April 2024
Developer Website

Support

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Specs

DNAapp Type: Batch Application

Developed with DNAcreator™

Technical Name - PS_LOANPMTRECALC

DNAX File Name: ps_loanpmtrecalc.dnax 

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