Article Details
Id: | 12507 |
Product: | finPOWER Connect |
Type: | FIX |
Version: | 2.02.04 |
Opened: | 11/12/2014 |
Closed: | 15/12/2014 |
Released: | 13/02/2015 |
Job: | J014640 |
Revolving Credit Loan; Refinance may fail
Refinancing a Revolving Credit Loans fails under the following circumstance:
1. Account Type, "Use Term and Maturity Date?" is checked.
2. Account's original Maturity Date is prior to the date of the Refinance.
The error generated is "Failed to commit Account Close. Failed to Refinance Account. Failed to create Refinance Account. Failed to calculate Account. Maturity Date cannot be on or before the date Opened.".