We made a minor update to LoanCirrus overnight. This update is part of our continuous improvement and moves us closer to our next major update at year end (version 1.07).
Here are the important highlights:
IMPORTANT FEATURE UPDATES
- Closed loans now show a zero total balance, even if the loan had a balance before being closed (rescheduled, e.g.). The balance was always 'muted' but being able to see it may cause confusion.
- You can now specify whether a product should be accessible from an external software Application. e.g. via API. This is a core part of our connectivity and integration buildout. To adjust this feature create or edit a product.
- You can now override Fee values when creating the loan application. The option is now available on Fees when they are created.
- Customer First and Last Names were added to the built-in Disbursement Reports.
- ID Issue and Expiration dates were added to the list of fields available in the CRB (Custom Report Builder).
- You can now create Penalty Rules. Rules can determine when the penalty should be applied, and at what point it should be capped. Go to the Penalties menu (Admin) and navigate to Penalty Rules.
- Product settings can now be updated after they have been used by loan applications.
- You can now create a workflow transition to effect "unapproval or undo approval)". When creating the transition set the first stage to 'Pending Disbursal', and the second (final) stage to any previous stage you've defined to effect your own unapproval process.
- You now have the option to make fees interest-free. Normally fees that are financed by the borrower are automatically made part of the amortization. You now have the option to amortize fees while by-passing interest on the fees.
- You can now modify penalty amounts when refinancing a loan.
- While you're using demo data, a bar at the footer of the page will serve as a reminder to erase demo date before entering new data. (This applies to new users only)
- You can now set fixed repayment dates at disbursement AND decide whether every future installment should follow the same fixed interval.
- Added more Placeholders that you can use in documents and notifications:
- loan purpose
- client phone number
- client employment date
- employer name
- marital status
- disbursement amount (when loan is rescheduled; actual, new disbursement when topped-up)
- last received payment date (new)
- Updated the pay up front fee feature bug when a manual fee is added to the loan
- Added a fix for rescheduling a loan: repayment date change was not taking effect
- Fixed embedding of logo into output documents which was being broken under some conditions.
- Fixed ID expiration checks in workflow validation.
- Fixed broken email link on client overview.
- Forced deletion of demo users when demo data is being erased
- Add fix to shorten slug length to 20 characters (when signing up)
- Update data migration template headings
- Update data migration import process
- Funding source filter based on branch update
- Made updates to the reports overview based on the user and branch selected