What Causes Interest to Post to a Loan?
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While reviewing a loan's transaction history, we noticed that the accrued interest was posted, even though the Loan Month End Interest Posting was not run. What caused the interest to post to the loan?
Loan interest can be updated by any of the following transactions:
- IL402 --- Loan payment
- IL410 --- Loan maintenance
- IL412 --- Loan advance
- IL413 --- Loan refinance
- IL415 --- Change loan status
- IL416 --- Loan financial adjustment
- IL417 --- Loan application fee payment
- IL419 --- Loan payment reversal
- IL421 --- Loan reversal withdrawal
- IL431 --- Loan rebate payment
Report processing:
- IL448 --- Adjustable mortgage processing
- IL501 --- Loan support update (report/notices)
- IL602 --- Loan interest EOM posting
- IL643 --- Automatic loan payment listing
- IL654 --- Apply loan relief changes
If any of these transactions or reports are run against the loan, the accrued interest will post to the loan, resulting in the transactions that you are seeing in the history.
