Use Schedule Roll Template

This request allows you to apply a Schedule RollSchedule Roll - A customized payment schedule where payment periods, or groups of payment periods, can have different payment accounts and interest rates. template to a loan.

General

A schedule roll allows lenders to change payment schedules in separate payment periods. For example, a lender may want to offer 5% interest on the first three periods of a loan, but then 15% for the remainder of the loan. Here's what you need to know about this request:

  • Schedule rolls can only be made on accounts that are not activatedactivated - Activating an account will cause the calculations on the loan to take into account actual dates and payment history. An account that hasn’t been activated exists in an abstract piece of time with no sense of past or future..
  • LoanPro users can create and save schedule roll templates to quickly apply schedule roll terms to loans.
  • There are several pre-configured templates that are available for all users. (These templates are listed and explained below.)
  • Only one template can be applied to a loan at a time.

For an example of how schedule roll templates work within the UI, take a look at our Roll Schedule Templates article.

Pre-Configured Template Information
Template ID Name Description
1 Prorate 1st Payment Long Only This will make the first payment larger due to accruing more interest on a longer first period. This is available only on Lease loan types.
2 Prorate 1st Payment Short Only This will make the first payment smaller due to accruing less interest on a shorter first period. This is available only on Lease loan types.
3 Prorate 1st Payment All This will apply either of the options above depending on whether the first payment is short or long. This is available only on Lease loan types.
4 Smooth Payment Advanced This will smooth the payment amount over the number of periods you entered for the loan, and it will only work with a whole number loan term.
5 Smooth Payment Basic This will smooth the payment amount over the number of periods that is most simple for the system to calculate.
6 Smooth Payment Advance - No Round This will smooth the payment amount over the number of periods you have entered for the loan without applying a schedule round. This template will only work with a whole number loan term.

Database

For information on schedule roll database tables, see the following articles:

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Try It Instructions

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