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": [...]
    }
  }
}