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http://mifosforge.jira.com/browse/MIFOS-3304?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]
keithwoodlock updated MIFOS-3304:
---------------------------------
Component/s: Loan Account
Fix Version/s: (was: Mifos Backlog)
Unscheduled
> Allow application of Upfront Loan Fees that are based on the outstanding loan
> amount
> ------------------------------------------------------------------------------------
>
> Key: MIFOS-3304
> URL: http://mifosforge.jira.com/browse/MIFOS-3304
> Project: mifos
> Issue Type: New Feature
> Components: Loan Account
> Affects Versions: Release 1.5.0.1
> Reporter: Ryan Whitney
> Assignee: pmqueue
> Priority: Major
> Labels: lightmf
> Fix For: Unscheduled
>
>
> 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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