Variable Loan Financial Details
Purpose
Allows the entry of initial loan components. Liability entries will be posted to the account associated Dealer for Payout per the rules defined on the selected Dealer profile
Access
Variable Loan Account |
Dialog Details
Details Specific Fields
Field | Explanation |
Cost Items | There may be between 1 and 15 of these displayed The field names are defined on the Variable Loan Control Details dialog |
Related Articles
Variable Loan Account Fields
Variable Loan Account Fields Field Explanation [LOACC_ARR+LETFEE] Arrears and letter fee This is the current (arrears) balance plus the letter fee generated during the letter run [LOACC_ARR+LETFEE+ACRINT] Total of arrears plus the letter fee and ...Fixed Loan Finance Details
Purpose To provide a breakdown of the loan cost items and allows the management of instalments Timing The Finance details may be accessed at any time. Instalments may be altered during the life of the loan. It is recommended that if further funds are ...Variable Loan Account Details
Purpose Variable Loan accounts are used to manage any loan where terms and conditions change over the life of the loan. Common changes may be interest rates, repayment amounts or maturity dates. Timing Variable Loan Accounts may be viewed at any ...Variable Loan Account Type Setup
Purpose Account Types are to differentiate the types of Variable Loans provided. Examples may be: Interest only compounding Interest only repayable Principal and interest Or the distinction may be by product offering: Revolving Credit Mortgage ...Variable Loan Dealer Profile Details
Purpose A dealer profile will replicated the cost items set up on the Variable Loan Control Details, and allows the set up of rules on which components of a loan will post to the dealer system. At least one dealer profile must be set up, as this is a ...