L.10 Payment Schedule Enhanced FTP Web Service

Users have the option to pass payment schedule details with the Economic Cost web service if required.

Backward compatibility is still provided for old payment schedule JSON tags, but the same Payment Schedule value is passed for both prior and current records and the engine will not fail.

The following is the Eco_Cost_with_2_Payment_Schedule_tags.json file. While using this web service, note the following points:

• You need to provide the Payment Schedule for both prior and current periods, else the engine will not process.
• Backward compatibility is still provided for the old payment schedule JSON tags, but the same Payment Schedule value will be passed for both prior and current records and the engine will not fail.
• The amortization code needs to be 800, 801, and 802 to ensure that the engine uses the provided payment schedule. Supported TP methods are only the Straight Term and Cash Flow: Zero Discount Factor.
• Even if the TP method is Straight Term, the Payment Schedule will be used by Breakage Charge calculation.

Example JSON for payment Schedule

Function Name: getEconomicCostWithParameters

JSON Format:

{
    "CURRENT":{
        "ACCOUNT_NUMBER":"TLN1TLN1",
        "AS_OF_DATE":"20140920",
        "CURRENT_NET_RATE":"8",
        "ORIGINAL_TERM_TO_MATURITY":"12",
        "ORIGINAL_TERM_MULTIPLIER":"M",
        "PAYMENT_FREQUENCY":"1",
        "PAYMENT_FREQUENCY_MULTIPLIER":"M",
        "ADJUSTABLE_TYPE_CODE":"0",
        "CURRENT_GROSS_BOOK_BALANCE":"48000",
        "ACCRUAL_BASIS_CODE":"3",
        "AMORTIZATION_TERM":"12",
        "AMORTIZATION_TERM_MULTIPLIER":"M",
        "AMORTIZATION_TYPE_CODE":"800",
        "CURRENT_GROSS_PAR_BALANCE":"48000",
        "CURRENT_PAYMENT_AMOUNT":"6959",
        "INTEREST_RATE_CODE":"7777",
        "LAST_REPRICING_DATE":"20140701",
        "MATURITY_DATE":"20150701",
        "NEXT_PAYMENT_DATE":"20141001",
        "NEXT_REPRICING_DATE":"20140701",
        "ORIGINAL_GROSS_PAR_BALANCE":"80000",
        "ORIGINATION_DATE":"20140701",
        "ISSUE_DATE":"20140701",
        "REMAINING_NO_OF_PAYMENTS":"10",
        "LAST_PAYMENT_DATE":"20140901",
        "INTEREST_TYPE_CODE":"1",
        "COMPOUNDING_BASIS_CODE":"120",
        "REPRICING_FREQUENCY":"0",
        "REPRICING_FREQUENCY_MULTIPLIER":"M",
        "TP_RATE":"5.844472",
        "INSTRUMENT_TYPE_CODE":"",
        "TP_METHOD_CODE":"10",
        "PAYMENTSCHEDULE":{
            "SCHEDULE":[
            {
                "AMOUNT":"10000",
                "DATE":"20140715"
            },
            {
                "AMOUNT":"20000",
                "DATE":"20140815"
            },
            {
                "AMOUNT":"25000",
                "DATE":"20140915"
            },
            {
                "AMOUNT":"30000",
                "DATE":"20141015"
            },
            {
                "AMOUNT":"35000",
                "DATE":"20141115"
            }
            ]
        }
    },  
    "PRIOR":{
                "ACCOUNT_NUMBER":"TLN1TLN1",
                "AS_OF_DATE":"20140920",
                "CURRENT_NET_RATE":"8",
                "ORIGINAL_TERM_TO_MATURITY":"12",
                "ORIGINAL_TERM_MULTIPLIER":"M",
                "PAYMENT_FREQUENCY":"1",
                "PAYMENT_FREQUENCY_MULTIPLIER":"M",
                "ADJUSTABLE_TYPE_CODE":"0",
                "CURRENT_GROSS_BOOK_BALANCE":"68000",
                "ACCRUAL_BASIS_CODE":"3",
                "AMORTIZATION_TERM":"12",
                "AMORTIZATION_TERM_MULTIPLIER":"M",
                "AMORTIZATION_TYPE_CODE":"800",
                "CURRENT_GROSS_PAR_BALANCE":"68000",
                "CURRENT_PAYMENT_AMOUNT":"6959",
                "INTEREST_RATE_CODE":"7777",
                "LAST_REPRICING_DATE":"20140701",
                "MATURITY_DATE":"20150701",
                "NEXT_PAYMENT_DATE":"20141001",        
                "NEXT_REPRICING_DATE":"20150701",
                "ORIGINAL_GROSS_PAR_BALANCE":"80000",
                "ORIGINATION_DATE":"20140701",
                "ISSUE_DATE":"20140701",
                "REMAINING_NO_OF_PAYMENTS":"10",
                "LAST_PAYMENT_DATE":"20140901",
                "INTEREST_TYPE_CODE":"1",
                "COMPOUNDING_BASIS_CODE":"120",
                "REPRICING_FREQUENCY":"0",
                "REPRICING_FREQUENCY_MULTIPLIER":"M",
                "TP_RATE":"5.844472",
                "INSTRUMENT_TYPE_CODE":"",
                "TP_METHOD_CODE":"10",
                "PAYMENTSCHEDULE":{
                "SCHEDULE":[
            {
                "AMOUNT":"10000",
                "DATE":"20140715"
            },
            {        
                "AMOUNT":"20000",
                "DATE":"20140815"
            },
            {
                "AMOUNT":"25000",
                "DATE":"20140915"
            },
            {
                "AMOUNT":"30000",
                "DATE":"20141015"
            },
            {
                "AMOUNT":"35000",
                "DATE":"20141115"
            }
            ]
            }
        },
            "MINIMUM_CHARGE":"-999999",
            "INTEREST_ONLY_FLAG":"0",
            "RATE_SPREAD":"0",
            "HOLIDAY_CALENDAR":"0",
            "INTERPOLATION_METHOD":"1",
            "ASSET_LIABILITY":"1",
            "SERVICE_TYPE":"B",
            "EXCLUDE_ACCRUED_INTEREST":"N"
}