34 docs tagged with "loans"

When a mortgage is rescheduled or refinanced, accrued interest that has not yet been applied is typically written off. The Carry Forward feature...

You can change the interest rate at account level for the following loan products:

When a client finishes repaying a loan, the account balance goes to zero due and you can close that loan account.

To close an account:

In the UK banking environment, *compound interest with daily rest* is a prevalent method for calculating interest on various financial products,...

To set up a product with equal interest-only installments, select **Product Type: Interest Only Equal Installments Loan**.

Expenses cover the different expense categories for the investment pool. For example, within a real estate investment pool you may have income...

Every loan account you create in Mambu is an instance of a loan product that has been created before. So, the terms that were set for the product...

To delete a loan account you must have the **Delete Loan Accounts** (`DELETE_LOAN_ACCOUNT`) permission. You may delete a loan account that has been...

When a loan account has been approved, the loan is ready to be disbursed.

Dynamic mortgage products are a type of capital repayment loan featuring equal installments and interest that is calculated on the **principal** +...

The "Edit Schedule" option is available for a loan account under the **More** options button, if the setup at the product level allows for it. For...

To learn more about the various configuration options when setting up this loan type, refer to [Configuring an Equal Installment Interest-Only...

Fee capitalization allows lenders to incorporate the fee directly into the loan's principal balance. When a fee is added to a loan, lenders have the...

An *ID template* is a representation of a type of ID document. For more information, see [ID Templates](/docs/id-templates).

Sometimes, the time between the mortgage payments isn't a perfect, standard interval. This often happens in two key situations:

In the **Internal Controls** section of the **Creating a new loan product** form, you can set up automatic internal controls for loans, such as the...

Approve a loan account of an individual client if the client has at least 5 years of service at at the current working place, the loan amount is...

Fees can be applied to loan accounts after being created or activated under each product.

A *penalty* is a fee that your organization may charge clients when a specific term of the loan contract is violated. Penalties are applied after the...

With *Configuration as Code* (CasC), you may batch configure your loan risk levels configuration via the API using YAML. For general information on...

Loan securities are used by organizations to secure or guarantee a part of the loan amount. If those loans are not repaid, the organization will be...

Extract all the loans in arrears along with the late installments. Calculate the total late principal, late interest, late fee, late penalties, and...

Peer to peer lending differs from traditional lending on how the loans are funded. While in traditional lending it's the financial institution that...

When you *pay off* a loan, you make a prepayment that covers the whole amount due as of a given date, when the client wants to fully pay their loan...

You can process single, partial, custom or bulk repayments. These may be entered in the present or backdated.

Loan accounts that do not meet the criteria for offering a loan can be rejected, as long as the loan state is `Pending Approval` or `Partial...

:::note Payment Holidays

When working with clients you may wish to view their loan history in order to come to a decision on whether to approve or disapprove a particular...

Revolving loans are mostly created the same way as other loan products. For more information, see [Setting Up New Loan...

When you *terminate a loan*, the total outstanding principal plus all accrued charges become due immediately (as of the termination date).

It's uncommon to use more than two decimals in daily life. In order to show usable values we truncate and round interest to display a whole number or...

Loan accounts that are still in the approval process can be withdrawn from the process by the client or the organization, as long as the loan state...

To write off a loan account: