A schedule roll allows lenders to change payment schedules in separate payment periods. For example, a lender may want to offer 5% interest on the first three periods of a loan, but then 15% for the remainder of the loan. Here's what you need to know about this request:
- Schedule rolls can only be made on accounts that are not activated.
- LoanPro users can create and save schedule roll templates to quickly apply schedule roll terms to loans.
- There are several pre-configured templates that are available for all users. (These templates are listed and explained below.)
- Only one template can be applied to a loan at a time.
For an example of how schedule roll templates work within the UI, take a look at our Roll Schedule Templates article.
Pre-Configured Template Information
|1||Prorate 1st Payment Long Only||This will make the first payment larger due to accruing more interest on a longer first period. This is available only on Lease loan types.|
|2||Prorate 1st Payment Short Only||This will make the first payment smaller due to accruing less interest on a shorter first period. This is available only on Lease loan types.|
|3||Prorate 1st Payment All||This will apply either of the options above depending on whether the first payment is short or long. This is available only on Lease loan types.|
|4||Smooth Payment Advanced||This will smooth the payment amount over the number of periods you entered for the loan, and it will only work with a whole number loan term.|
|5||Smooth Payment Basic||This will smooth the payment amount over the number of periods that is most simple for the system to calculate.|
|6||Smooth Payment Advance - No Round||This will smooth the payment amount over the number of periods you have entered for the loan without applying a schedule round. This template will only work with a whole number loan term.|
Pay special attention to the endpoint of this request.
This request does not use OData, so it's not included in the endpoint like most other LMS requests.
For information on schedule roll database tables, see the following articles:
- Database – Loan Schedule Roll Entity (loan_schedule_roll_entity)
- Database – Schedule Roll Template (schedule_roll_template_entity)
Try It Instructions
Our requests often provide sample payload information so that you can receive a 200 response from simply hitting the Try It button. This request is ready for you—hit Try It to send the request.
However, if you would like to try this request with your own tenant account, make sure to change the headers to match your own authentication information.