Difference between revisions of "Issue Loan Rebate"
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(Created page with "=='''Overview of IL431'''== Category:Loans") |
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=='''Overview of IL431'''== | =='''Overview of IL431'''== | ||
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| + | Loan rebates are an optional method of rewarding borrowers through periodic distributions of funds back to them. The amount of the distribution is based on the loan’s interest rate, a weighted average of the investments supporting the loan, the loan support margin, and other factors. It’s calculated using the Loan Rebate Calculations application (IL451), which runs on a periodic basis. Each time this application determines an additional rebate amount is due, the rebate amount is added to the accumulated rebate balance until the full rebate balance is paid out. Rebate payments are most often issued to borrowers periodically. | ||
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| + | To issue a loan rebate: | ||
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| + | * From the DDI Connect main menu, double-click Financial Services | ||
| + | * Double-click Loans | ||
| + | * Double-click Transactions | ||
| + | * Double-click 431 Loan Rebate Payment. You will see this screen: | ||
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| + | [[File:Loan Rebate Payment 1.png]] | ||
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[[Category:Loans]] | [[Category:Loans]] | ||
Revision as of 18:36, 3 May 2012
Overview of IL431
Loan rebates are an optional method of rewarding borrowers through periodic distributions of funds back to them. The amount of the distribution is based on the loan’s interest rate, a weighted average of the investments supporting the loan, the loan support margin, and other factors. It’s calculated using the Loan Rebate Calculations application (IL451), which runs on a periodic basis. Each time this application determines an additional rebate amount is due, the rebate amount is added to the accumulated rebate balance until the full rebate balance is paid out. Rebate payments are most often issued to borrowers periodically.
To issue a loan rebate:
- From the DDI Connect main menu, double-click Financial Services
- Double-click Loans
- Double-click Transactions
- Double-click 431 Loan Rebate Payment. You will see this screen:
