# API – Loan Setup Collections

### General

This article shows a list of all collection options for the loan setup.

#### Interest Rate Type

This is a list of all options for loan interest rate types.

- loan.rateType.annually
- Annual interest rate

- loan.rateType.biweekly
- Bi-weekly interest rate. A biweekly interest rate of 1% is the same as an annual interest rate of 26%

- loan.rateType.monthly
- Monthly interest rate. A monthly interest rate of 1% is the same as an annual interest rate of 12%

- loan.rateType.semiannually
- Semi-annual interest rate. A semi-annual interest rate of 1% is the same as an annual interest rate of 2%

- loan.rateType.semimonthly
- Semi-monthly interest rate. A semi-monthly interest rate of 1% is the same as an annual interest rate of 24%

- loan.rateType.weekly
- Weekly interest rate. A weekly interest rate of 1% is the same as an annual interest rate of 52%.

#### Loan Class

This is a list of all Loan Class types. This is usually the same as the collateral type.

- loan.class.carLoan
- This is for car loans

- loan.class.consumer
- This is for consumer loans

- loan.class.mortgage
- This is for Real Estate loans

- loan.class.other
- This is for other loans

#### Loan Type

This is a list of all loan types.

- loan.type.creditLimit
- This is for credit limit loans

- loan.type.flooring
- This is for flooring loans

- loan.type.installment
- This is for installment loans

- loan.type.lease
- This is for leases

#### Loan Payment Frequency

This is a list of payment frequency options.

- loan.frequency.annually
- Payments are due once a year

- loan.frequency.biWeekly
- Payments are due once every other week

- loan.frequency.custom
- Payments are due at a custom interval

- loan.frequency.monthly
- Payments are due once a month

- loan.frequency.quarterly
- Payments are due once a quarter

- loan.frequency.semiannually
- Payments are due twice a year

- loan.frequency.semiMonthly
- Payments are due twice a month

- loan.frequency.single
- Only a single payment will come due on the loan (full amount of loan due)

- loan.frequency.weekly
- Payments are due once a week

#### Loan Calculation Type

This is a list of all options for loan calculation type.

- loan.calcType.interestOnly
- This is for interest-only loans.

- loan.calcType.rule78
- This is for Rule-78 loans (please note that these loans are illegal in many areas; check with the laws in the jurisdiction where your company resides before accruing interest based on the rule of 78s)

- loan.calcType.simpleInterest
- This is for simple interest loans

- loan.calcType.simpleIntLocked
- This is for simple interest locked loans. Simple interest locked means no more and no less than the originally calculated interest amount will come due on the loan.

#### Days in Year

This is a list of all options for Days in Year calculations:

- loan.daysInYear.actual
- Use the actual number of days in a year

- loan.daysInYear.frequency
- Use a number of days in a year that is calculated based on the payment frequency (number of days in a payment period * number of payment periods in a year).

#### Interest Application

Here is a list of interest application methods.

- loan.interestApplication.betweenPeriods
- Interest is applied between periods

- loan.interestApplication.betweenTransactions
- Interest is applied between transactions made on the loan

#### Beg/End

Here’s a list of Beg/End options

- loan.begend.beg
- Interest is paid in the beginning of a payment period

- loan.begend.end
- Interest is paid in the end of a payment period

#### First Period Days

Here’s a list of options for number of days in the first payment period.

- loan.firstPeriodDays.actual
- Calculations are based on the actual number of days in the first period

- loan.firstPeriodDays.forceRegular
- Calculations are based on a regular number of days in the first payment period regardless of the number of days in that period

- loan.firstPeriodDays.frequency
- Calculations are based off a regular length first payment period if the length of the period is within one day of a regular period

- loan.firstPeriodDays.unitPeriodOddDays
- Calculations are based off a unit period of 30 days for one actual month, even if the actual month has 28 to 31 days, plus any odd days.

#### First Day Interest

Below is a list of options for the first day interest of a loan.

- 0 – Do not charge interest on the first day of a loan
- 1 – Do charge interest on the first day of the loan

#### Discount Calculation Method

Below is a list of discount calculation methods.

- loan.discountCalc.full
- loan.discountCalc.percentage
- loan.discountCalc.percentFixed
- loan.discountCalc.rebalancing
- loan.discountCalc.straightLine

#### Days in Year Alternate

Below is a list of options for Days in Year Alternate.

- loan.diyAlt.no
- loan.diyAlt.yes

#### Days in Period

Below is a list of options for custom days in a period.

- loan.daysinperiod.1
- Payment due every day

- loan.daysinperiod.1B
- Payment due every business day (Monday through Friday)

- loan.daysinperiod.2
- Payment due every other day

For the rest, the period length is determined by the number in the option (measured in days)

- loan.daysinperiod.3
- loan.daysinperiod.4
- loan.daysinperiod.5
- loan.daysinperiod.6
- loan.daysinperiod.8
- loan.daysinperiod.9
- loan.daysinperiod.10
- loan.daysinperiod.12
- loan.daysinperiod.13
- loan.daysinperiod.15
- loan.daysinperiod.18
- loan.daysinperiod.20
- loan.daysinperiod.24
- loan.daysinperiod.26
- loan.daysinperiod.28
- loan.daysinperiod.30
- loan.daysinperiod.36
- loan.daysinperiod.40
- loan.daysinperiod.45
- loan.daysinperiod.52
- loan.daysinperiod.60
- loan.daysinperiod.72
- loan.daysinperiod.73
- loan.daysinperiod.90
- loan.daysinperiod.91
- loan.daysinperiod.120
- loan.daysinperiod.180
- loan.daysinperiod.182
- loan.daysinperiod.360
- loan.daysinperiod.364
- loan.daysinperiod.365

#### Last as Final

- 0 – If more interest accrues on a loan than was originally intended, or payments were missed, add payments to the schedule to adjust
- 1 – Make the last loan payment larger to adjust for missed payments or extra interest accrual

#### Curtailment Percentage Base

- loan.curtailpercentbase.loanAmount

#### NDD Calc (Next Due Date)

Determines how to calculate the next due date. See Next Due Date (NDD) Calculation

- loan.nddCalc.interestOnly
- loan.nddCalc.standard

#### End Interest

- loan.endInterest.loanExp
- loan.endInterest.no

#### Fees Paid By

- loan.feesPaidBy.date
- loan.feesPaidBy.period

#### Late Fee Type

- loan.lateFee.1
- Flat dollar amount

- loan.lateFee.2
- Percentage

- loan.lateFee.3
- Greater between flat amount and percentage

- loan.lateFee.4
- Lesser between flat amount and percentage

#### Late Fee Calculation

- loan.lateFeeCalc.current
- loan.lateFeeCalc.standard
- loan.lateFeeCalc.standardFee

#### Late Fee Percentage Base

- loan.latefeepercentbase.escrow
- Regular Payment + Escrow

- loan.latefeepercentbase.regular
- Regular Payment

#### Payment Date Application

- loan.pmtdateapp.acutal
- Actual/Next

- loan.pmtdateapp.last
- Last/Next