Get Loan Modification

A Loan Modification, like the name implies, is a change made to the settings of a loan. Loan Modifications are more than simple changes to a loan's terms, however:

• Modifications are used for loans that have already been activated. Thus, modification requests will not work for loans that are inactive.
• A loan modification is essentially a new loan that is placed on top of an old loan. The history and transactions from the old loan are present, but the terms of the new loan take precedence.

For an example on how Loan Modifications work within the UI, take a look at our Account Modification article.

Database

For information on Loan Modification database tables, see the following articles:

• Database – Loan Modification Info (loan_modification_entity)
• Database – Loan Table (loan_entity)