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  1. Apache Fineract
  2. FINERACT-167

Implementation of loan foreclosure functionality

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    Details

    • Type: New Feature
    • Status: Open
    • Priority: Major
    • Resolution: Unresolved
    • Affects Version/s: None
    • Fix Version/s: None
    • Component/s: Loan
    • Labels:

      Description

      On foreclosure of the active loan application, the following things should happen,

      1) Repay total loan outstanding principal amount.

      2) Repay total Interest amount (accrued and due) till Foreclosure date.

      3) Repay total Fee, Charges or Penalties due, if any till Foreclosure date.

      4) Accounting entries will be made as per product configuration for interest and loan portfolio payments.

      5) Future installment Interest, Fee, Charge, or Penalty, if any, is waived off (there won’t be any accounting entries for these transactions).

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              • Assignee:
                Unassigned
                Reporter:
                vishwanath Vishwanath R
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                Dates

                • Created:
                  Updated: