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http://mifosforge.jira.com/browse/MIFOS-5494?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=72448#comment-72448
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sahadev k commented on MIFOS-5494:
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Gold Loans are usually repaid in one go or in a few, random instalments. . This
is unlike the existing loan products in MIFOS which are repayable in
instalments. So this products should calculate interest on daily declining
balance method . It should also allow part payments
> Support for Collateralized Loans (Pawn Shops, Gold Loans, etc)
> --------------------------------------------------------------
>
> Key: MIFOS-5494
> URL: http://mifosforge.jira.com/browse/MIFOS-5494
> Project: mifos
> Issue Type: New Feature
> Components: QuestionGroups/Surveys/PPI
> Reporter: Ed Cable
> Attachments: Collateral Management System.docx
>
>
> Across multiple regions many MFIs are branching out into collateralized loans
> or more of pawn-shop type functionality. Enhancements are needed to track
> the collateral assigned to the loan and the value of that collateral. In some
> regions, gold loans are most common but this work should be generic enough to
> accommodate all types of collateral.
> Attached is a functional specification shared by Vishwas of Conflux
> Technologies for a collateral management system.
> Input from Binny on Gold Loans: For gold loans: how the loan amount is
> computed, how is it related to gold prices, purity etc., interest calculation
> with example, and how it is different from regular micro-finance loans.
> To be Done:
> Objectives
> * Add features for defining Collateral Types and associating default values
> against collaterals
> * Add features for attaching Collaterals to Loan Products, capturing various
> properties of collaterals, calculate maximum permissible loan amounts etc
> This is being tracked as potential intern project:
> http://mifosforge.jira.com/wiki/display/RES/Google+Summer+of+Code+2012+Ideas#GoogleSummerofCode2012Ideas-CollateralManagementSystem
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