Loan Amortization

This utility generates an amortization schedule for an installment loan or line of credit draw. The atOrigination field is where you specify various loan or draw-specific inputs such as the start date, amount to be financed, and duration.

You can specify generic loan type configurations as part of the request body (or omit these fields and use the default configurations). Alternatively, you can use predefined loan type configurations by passing in a loanTypeId. For a line of credit draw, you can also pass in a loanId in place of a loanTypeId. When a loanId is provided, the amortization calculation will reference the configurations of the loan type associated with the loanId, and will also use the line of credit start date and rates associated with the loanId if these fields are not passed in.

When generating an amortization schedule from a predefined loan type, you can pass in either a personAddress or personAddressId to check the amortization output against any existing rate caps associated with the loan type.

Note for the "Predefined Line Of Credit" option only:

• If the loan type is configured to accrue interest as accrualMethod=compoundWithFees, there is a known limitation to the draw amortization calculation logic.
• The draw amortization calculation will be done using the compound method and not compoundWithFees. To ensure that the system calculates interest accurately, amortized draws should NOT include any fees.