Mihaly Dallos created FINERACT-1721:
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Summary: Loan Delinquency Classification
Key: FINERACT-1721
URL: https://issues.apache.org/jira/browse/FINERACT-1721
Project: Apache Fineract
Issue Type: New Feature
Reporter: Mihaly Dallos
h2. *Loan Delinquency Classification and bucket configuration*
Loans which aren't payed back can be differentiated by how long they are
overdue. These ranges are called Delinquency buckets.
When the delinquency bucket is configured at the product level, there should be
a verification at certain period to check and update the loan account’s
{{delinquency classification field}} according to the configuration done at the
loan product level.
*Notes/Validations:*
* certain time period configuration should be flexible, user should be able to
set it to run daily, or run weekly.
* when none of the product configured bucket values matches, system should set
the {{delinquency classification field}} to null at the loan account level
A new field to be introduced at the Loan Account level called "Loan Delinquency
Classification". At the product level, a new configuration is needed with
Overdue days range (min and max) and the corresponding classification name.
This attribute to be displayed both on the screen and in the Get Loan
APIs.{*}{*}
h3. *Delinquency Classification Job*
A new daily batch job (or step) should be introduced to update the delinquency
buckets of the overdue loan daily. With each day overdue is aging and bucket
update may be needed.
h3. *Real time update*
When a loan account receives credits on the overdue outstanding payments,
his/her bucket may change with that. Delinquency classification of the loan
should be checked and correct in Real-time when new transactions are made on
the loan account
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