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Post-default payment does not work if the payment happened multiple pay periods after the default event #250

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wisdant opened this issue Oct 17, 2022 · 0 comments

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@wisdant
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wisdant commented Oct 17, 2022

Right now, at the moment of default, we do not distribute the interest for the upcoming pay period. However, when the user calls makePayment(), the system will call updateDueInfo(), if there are multiple pay periods passed since the default, the system automatically distribute the fees&Interest generated in the pay periods after default. The system has difficult to figure out when to distribute the period that we did not distribute income (at the moment of default).

We should handle them in exactly the same way: do not distribute any fees&interest starting from the moment of default until the principal wrote off is fully paid off. Only after that, the payments can be applied towards the fees&interest generated since the moment of default.

wisdant added a commit that referenced this issue Oct 17, 2022
* Make payoff amount consistent

* Fix default logic

* Cleanup, add comments
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