API – Loan Setup

General

This article discusses the specifics of the Loan Setup of a loan, working with loan setup entities, and entity fields refer to.

Working with Loan Setup Entities

When working through a loan entity, you will need to wrap the loan setup JSON object inside of a JSON object for the loan entity; this is not needed for working directly with the loan setup entity. For example, if I add a loan setup entity through the loan entity, the body for my POST/PUT request would look similar to the following:

{
...Loan Entity Fields Here...
"LoanSetup":{
...Loan Setup Fields Here...
}
}

However, if I created a loan setup entity directly, the body of my request would look as follows:

{
...Loan Setup Fields Here...
}

The URL for the request is the same as the URL for the loan. Ex. to edit the Loan Setup for the loan with id 123 the URL would be:

PUT    https://loanpro.simnang.com/api/public/api/1/odata.svc/Loans(123)

Entity Field Overview

Below is the JSON format of a Loan Setup entity.


"LoanSetup": {
    "loanAmount": "12000.00",
    "discount": "500.00",
    "underwriting": "0.00",
    "loanRate": "12.0212",
    "loanRateType": "loan.rateType.annually",
    "loanTerm": "36",
    "contractDate": "2015-05-07",
    "firstPaymentDate": "2015-05-08",
    "amountDown": "0.00",
    "reserve": "5.00",
    "salesPrice": "12000",
    "gap": "1120.",
    "warranty": "2500",
    "dealerProfit": "1000",
    "taxes": "125.25",
    "creditLimit": "15500",
    "loanClass": "loan.class.carLoan",
    "loanType": "loan.type.installment",
    "discountSplit": "1",
    "paymentFrequency": "loan.frequency.monthly",
    "calcType": "loan.calcType.simpleInterest",
    "daysInYear": "loan.daysInYear.frequency",
    "interestApplication": "loan.interestApplication.betweenTransactions",
    "begEnd": "loan.begend.end",
    "firstPeriodDays": "loan.firstPeriodDays.frequency",
    "firstDayInterest": "loan.firstdayinterest.yes",
    "discountCalc": "loan.discountCalc.straightLine",
    "diyAlt": "loan.diyAlt.no",
    "daysInPeriod": "loan.daysinperiod.24",
    "roundDecimals": "5",
    "lastAsFinal": "loan.lastasfinal.no",
    "curtailPercentBase": "loan.curtailpercentbase.loanAmount",
    "nddCalc": "loan.nddCalc.standard",
    "endInterest": "loan.endInterest.no",
    "feesPaidBy": "loan.feesPaidBy.date",
    "graceDays": "5",
    "lateFeeType": "loan.lateFee.3",
    "lateFeeAmount": "30.00",
    "lateFeePercent": "10.00",
    "lateFeeCalc": "loan.lateFeeCalc.standard",
    "lateFeePercentBase": "loan.latefeepercentbase.regular",
    "paymentDateApp": "loan.pmtdateapp.actual"
  }
}
  • loanAmount – This is the amount that has been lent out to the borrower
  • discount – This is the difference in the face value of the loan and the amount the lender acquired it for (ex. If the loan has a worth of $1500 and it was purchased for $1000, the discount would be $500)
  • underwriting – This is the amount of the underwriting fee
  • loanRate – This is the interest rate on the loan; its frequency is based on the loanRateType field
  • loanRateType – The frequency of the interest rate (weekly, monthly, annually, etc.). A 1% monthly interest rate is equivalent to a 12% annual interest rate. See Loan Setup Collections
  • loanTerm – The number of periods for the loan
  • contractDate – The date the contract was signed
  • firstPaymentDate – The date that the first payment will come due for the loan (cannot be before the contract date)
  • amountDown – A record of the amount the borrower put down (does not affect loan calculations at all)
  • reserve – An amount held back from the dealer or source company to insure against bad loans (does not affect loan calculations)
  • salesPrice – The original sales price of the collateral (does not affect loan calculations)
  • gap – The amount of the GAP insurance
  • warranty – The amount covered by warranty
  • dealerProfit – The amount of profit that the dealer made off of the loan (does not affect calculations)
  • taxes – The amount paid in taxes for the loan; please note that leases use an Escrow bucket for this (does not affect calculations)
  • creditLimit – The Credit limit of the loan (for loans of type Credit Limit)
  • loanClass – The loan class; the class of the loan collateral. See Loan Setup Collections
  • loanType – The type of the loan. See Loan Setup Collections
  • discountSplit – Whether or not the discount should be split over the life of the loan (1 – yes, 0 – no)
  • paymentFrequency – The frequency on which payments come due (the length of the periods)
  • calcType – The calculation type for the loan
  • daysInYear – The method to “calculate days in year” when performing loan calculations. See Loan Setup Collections
  • interestApplication – How interest is applied to the loan. See Loan Setup Collections
  • begEnd – See Loan Setup Collections
  • firstPeriodDays – How the number of days in the first payment period on the loan should be calculated. See Loan Setup Collections
  • firstDayInterest – Whether or not to charge interest on the first day of the loan. See Loan Setup Collections
  • discountCalc – How discount is calculated. See Loan Setup Collections
  • diyAlt – Calculation for Days in Year Alternate. See Loan Setup Collections
  • daysInPeriod – The number of days in a period for custom period length. See Loan Setup Collections
  • roundDecimals – The number of decimal places to round to for calculations (between 2 and 7)
  • lastAsFinal – See Loan Setup Collections
  • curtailPercentBase – See Loan Setup Collections
  • nddCalc – See Loan Setup Collections
  • endInterest – See Loan Setup Collections
  • feesPaidBy – See Loan Setup Collections
  • graceDays – The length of the grace period before a late fee is applied (between 0 and 30)
  • lateFeeType – The type of the late fee. See Loan Setup Collections
  • lateFeeAmount – The amount of the flat late fee
  • lateFeePercent – The percentage of the late fee
  • lateFeeCalc – See Loan Setup Collections
  • lateFeePercentBase – See Loan Setup Collections
  • paymentDateApp – See Loan Setup Collections


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