+1
> On 5 Jun 2024, at 16:26, Ed Cable <edca...@mifos.org> wrote:
>
> 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://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://mifos.org/> <http://facebook.com/mifos>
> <http://www.twitter.com/mifos>
>
