Key Takeaways Partial payments clear current-period fees before outstanding interest, leaving that interest to age forward as a new delinquency...
Key Takeaways Consumer installment loans require Periodic/360 interest accrual; applying commercial accrual settings miscalculates every payment from day one. Consumer...
Key Takeaways Skipping the prorate period when a consumer installment loan closes mid-month charges the borrower a full period of...
Key Takeaways A single Admin-level toggle controls whether interest accrues on the payoff date itself: the wrong setting produces a...
Key Takeaways Three documents should be auto-sent with every loan creation: a welcome letter, an amortization schedule, and an ACH...
Key Takeaways Check your 30-day delinquency bucket weekly: a borrower who appears twice in a row is trending toward default,...
Key Takeaways The accrual method must be set per loan at setup: Actual/360 for bridge and hard money, Periodic 30/360...
