Loan Module

The SCE's loan module may be used to compute almost any loan imaginable - from the simplest equal payment loan to loans that have exotic and highly customized features (e.g. payments that occur outside of a fixed periodicity). If you have used the SCE in the past, then you will know this module by a slightly different name - "Loan Builder".

Sample Request

The following example is a request for an equal payment loan with an advance of $1,000, interest will accrue at a 10% rate using an actual day / 365 U.S. Rule accrual method (code 320), and with a repayment schedule of 12 monthly payments. The final payment will be adjusted for perfect amortization.

{
  "Module" : "Loan",
  "Data" : {
    "BusinessRules" : {
      "AmError" : "AdjPmt"
    },
    "EditOutput" : {
      "ShowType" : true
    },
    "Advances" : [
      {
        "Date" : "2019-01-01",
        "Amount" : "1000.00"
      }
    ],
    "AccrualConfigs" : [
      {
        "Date" : "2019-01-01",
        "IntRate" : "10.000",
        "AccrualCode" : "320"
      }
    ],
    "Fees" : [
      {
        "Name" : "DocFee",
        "Amount" : "50",
        "AddToPrin" : false,
        "AddToFinChg" : true
      }
    ],
    "PmtStreams" : [
      {
        "Date" : "2019-02-01",
        "Term" : "12",
        "PPY" : "12"
      }
    ]
  }
}

Sample Response

The following example is the response returned from the SCE for the request provided at the beginning of the previous section.

{
  "Result" : 200,
  "Module" : "Loan",
  "Data" : {
    "Errors" : [
    ],
    "Warnings" : [
    ],
    "Notes" : [
    ],
    "FedBox" : {
      "AmtFin" : "950.00",
      "FinChg" : "104.75",
      "TotPmts" : "1054.75",
      "APR" : {
        "Value" : "19.766",
        "Type" : "Actuarial"
      }
    },
    "Moneys" : {
      "Proceeds" : "1000.00",
      "Principal" : "1000.00",
      "Interest" : "54.75",
      "Prepaid" : "50.00"
    },
    "Accrual" : {
      "Methods" : [
        "Actual/365 USRule"
      ],
      "Days1Pmt" : "31",
      "DayCount" : "Actual",
      "Maturity" : "2020-01-01"
    },
    "PmtStreams" : [
      {
        "Term" : "11",
        "Pmt" : "87.90",
        "Rate" : "10.000",
        "Begin" : "2019-02-01",
        "PPY" : "12"
      },
      {
        "Term" : "1",
        "Pmt" : "87.85",
        "Rate" : "10.000",
        "Begin" : "2020-01-01"
      }
    ],
    "AmTable" : {
      "AmLines" : [...]
    }
  }
}