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Loan Due Date Change 

Instructions on how to Change the Due Date on a Loan to a different day within the same month

Loan Due Date Change

Payment must remain within the same month, and member must have made their first payment to perform a due date change

  1. Open a Transaction work area
  2. Open the Relationship Tree – Left Click on Loan Record to open the Update Tab
    • At the bottom of this page click PROJECT
    • Under Main Options
      • Change Method to Maturity Date
      • Change Payment Due date (within the same month)

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      • Change Frequency Day 1 (if frequency is monthly)
      • Example - New Due Date 8/12
        • Payment Frequency Day 1: 12
    • Under Loan Subrecords
      • Right Click on Payment Change – Add Payment Change
      • Fill in new Payment Due Date
      • Enter the current Payment Amount
      • Click UPDATE
    • Click Project New
      • You will be able to see that the maturity date has changed
    • Click Modify Loan
      • Verify the Before and After Loan Modification Details to show that the only things changing are the Frequency Day, Due Date, and Maturity Date (Term could also be slightly affected)
    • Click Post Modification to complete the due date change
    • Relationship Tree will show the Payment Change, and it will also show in the History of the Loan Record
  3. Create a KeyInsight Interaction to Document the Due Date Change