Allow application of Upfront Loan Fees that are based on the outstanding loan
amount
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Key: MIFOS-3304
URL: http://mifosforge.jira.com/browse/MIFOS-3304
Project: mifos
Issue Type: New Feature
Affects Versions: Release 1.5.0.1
Reporter: Ryan Whitney
Priority: Major
Currently, if you create an upfront fee with a percentage based on loan amount,
you can't apply it after a payment is made. You will get this error:
"Applying this fee is currently not supported since it would require
recalculating the loan schedule after payments have been made."
A good feature would be to allow for the creation of a fee that is a percentage
for the oustanding loan amount, in case of penalties that are applied during
the loan cycle.
Scenario is this
1. Client has determined they want to repay their loan early (for example, they
want to repay within the first 10 weeks of a 50 week loan)
2. To recover some of the maintenance cost, the MFI would charge 2% of the
outstanding principal
There is a workaround, which is to create an upfront fee of a flat amount that
the MFI can edit, but auto-calculation of the fee would work.
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