In order for waivers to affect P&I calculation, appropriate algorithms must be plugged in. The following points highlight the algorithms that are required to support waiver functionality:
Information about existing waivers should be retrieved by a P&I pre-processing algorithm for use by the P&I rule processing algorithms. Refer to Determine if Active Waivers Exist for more information.
If your implementation supports effective date waivers, the P&I pre-processing algorithm C1-PI-PR-WDT Adjust Calculation Periods for Effective Waivers should be plugged into any obligation type that supports P&I processing with waivers.
Every P&I rule that calculates a charge that may be waived should include appropriate rule processing waiver algorithms plugged into the P&I Rule BO to adjust calculated charges in the internal P&I information data area based on existing waivers. Algorithms are provided to support one-time waivers, ongoing waivers and effective dated waivers. The base product P&I rule BOs are configured with the waiver algorithms already plugged in.
P&I post processing algorithms C1-PI-PS-WV1 Process One-time Waivers, C1-PI-PS-WV2 Process Ongoing Waivers and C1-PI-PS-WV3 Process Effective Dated Waivers are provide to create or cancel waiver financial transactions when calling P&I with an "update" action. These algorithms should be plugged into any obligation type that supports P&I processing for waivers.
No excess waiver. The base product algorithms assume that when a waived penalty or interest charge is later modified to cause the original amount to be less than the waiver, the waiver amount must also be adjusted accordingly. A waiver credit should never be in excess of the debt it's waiving.
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