+1
From: Ed Cable <edca...@mifos.org> Sent: Wednesday, June 5, 2024 7:57 PM To: Dev <dev@fineract.apache.org> Subject: [VOTE] Fineract Significant Improvement Proposal: [FSIP-3] Continue Enhancing New Progressive Loan Module to Support Interest-Bearing Loans Now that we've had sufficient time for discussion, it's time for a vote on the Fineract Significant Improvement proposal around continued enhancement to the progressive loan module. Only voting members of the PMC will count towards the three necessary +1 votes but as James noted we would like the entire community to vote to gauge the overall level of support. Please vote per our usual rules: +1 0 -1 This vote will be open for 72 hours . Thanks, Ed ---------- Forwarded message --------- From: James Dailey <jdai...@apache.org <mailto:jdai...@apache.org> > Date: Wed, Jun 5, 2024 at 2:38 AM Subject: Re: DISCUSS: Fineract Significant Improvement Proposal: [FSIP-3] Continue Enhancing New Progressive Loan Module to Support Interest-Bearing Loans To: <dev@fineract.apache.org <mailto:dev@fineract.apache.org> > Ed - Please call for a VOTE on this in order to complete the process of adopting the SIP. Minimally, it needs to be adopted by three voting members of the PMC but wider community support would be important as well. Create a new thread with the word [VOTE] in the header as is our practice, and record the vote. IF approved, then track progress and provide updates. Thanks On Tue, May 28, 2024 at 11:53 PM Bharath Gowda <bgo...@mifos.org <mailto:bgo...@mifos.org> > wrote: Hi, Yes the Interest rate remains the same for subsequent disbursements and there is no option to change the interest rate at the time of Disbursement. However, There is an option if the user wants to change the interest rate after disbursement from a specific Installments.the option is available under the "Reschedule" option. Regards, Bharath Lead Implementation Analyst | Mifos Initiative Skype: live:cbharath4| Mobile: +91.7019635592 <http://mifos.org/> http://mifos.org <http://facebook.com/mifos> <http://www.twitter.com/mifos> On Wed, May 29, 2024 at 11:57 AM It's NPE <croskc...@gmail.com <mailto:croskc...@gmail.com> > wrote: Hi, Ed, One question, "Initial configuration will be for the progressive loan to support Declining balance interest strategy, with daily interest calculation and interest recalculation which modifies the last installment of the loan based on whether there were early or late repayments.". Query: Will the interest rate remain consistent for each subsequent disbursement or will there be flexibility to change the interest rate for every new disbursal? On Wed, May 15, 2024 at 11:32 PM Ed Cable <edca...@mifos.org <mailto:edca...@mifos.org> > wrote: Hi all, I wanted to open up a discussion thread related to the ongoing enhancements that are occurring to the loan functionality within Fineract. There are major changes being proposed which continuedto extend off the existing enhancements that have gone into the new progressive loan calculations that were delivered in Fineract 1.9. The design and implementation of these changes at a technical level are being driven by Adam Saghy and Marta Jankovics - long-term active members of the community and the functional requirements by Bharath Gowda. Please view the details of the proposed changes, the goals of these changes, the alternatives that were considered and timeline for these changes if the Significant Improvement Proposal gets approved. Thanks to Adam for sharing a lot of the high-level technical details of our approach that I incorporated in the proposal. We look forward to the discussion and vote and will continue to share more documentation around the proposed changes including new enhancements and gradual enhancement/refactoring of the existing logic of the loan module. This proposal will result in valuable net new functionality and substantial progress on the much needed optimization of the loan module but it won't fully address the complete refactoring of the legacy loan module so want to get the community's input and give visibility into the near and long-term impact this would have on the community as well as the way community can get involved in future work. https://cwiki.apache.org/confluence/display/FINERACT/FSIP-3%3A+Continue+Enhancing+New+Progressive+Loan+Module+to+Support+Interest-Bearing+Loans Here's a brief summary of the proposal. We are proposing to add support for interest-bearing loan products for progressive loan schedule by continuing to develop on the recently merged progressive loan handling changes and moving it into a new externalized fineract-progressive-loan module. These changes are in support of an enterprise customer that has been sponsoring upstream contributions into Fineract to support the migration of its BNPL and installment lending products onto a new loan management system of record. This new module will aim to re-use existing logic from the legacy loan module by extracting it into separate methods or classes to reduce the complexity and improve the reusability. The legacy loan module is far too complicated to build these new loan capabilities onto but we also have decided not to build a completely separate and independent loan module that would lead to forked implementations. Our proposed approach will allow us to deliver a solution that meets the customer requirements while not breaking any existing functionality for the community. We will make substantial progress on the much-needed redesign and refactoring of the loan module and gradually and iteratively over time build out this enhanced loan module to ideally deprecate the legacy loan module. Thanks, Ed Cable President/CEO, Mifos Initiative edca...@mifos.org <mailto:edca...@mifos.org> | Skype: edcable | Mobile: +1.484.477.8649 Collectively Creating a World of 3 Billion Maries | http://mifos.org <http://facebook.com/mifos> <http://www.twitter.com/mifos> -- Ed Cable President/CEO, Mifos Initiative edca...@mifos.org <mailto:edca...@mifos.org> | Skype: edcable | Mobile: +1.484.477.8649 Collectively Creating a World of 3 Billion Maries | http://mifos.org <http://facebook.com/mifos> <http://www.twitter.com/mifos>
