{"id":10357,"date":"2019-11-25T18:53:56","date_gmt":"2019-11-25T18:53:56","guid":{"rendered":"https:\/\/margill.com\/?p=10357"},"modified":"2025-10-10T09:39:19","modified_gmt":"2025-10-10T13:39:19","slug":"margill-loan-manager-ageing-report-with-refinanced-loans","status":"publish","type":"post","link":"https:\/\/margill.com\/en\/margill-loan-manager-ageing-report-with-refinanced-loans\/","title":{"rendered":"Margill Loan Manager &#8211; Ageing report &#8211; with refinanced loans"},"content":{"rendered":"<p><strong>Q: If a loan was refinanced and the payments revised based on the refinanced balance, can the loan account still be in arrears?\u00a0 Doesn&#8217;t the refinancing and revised payments take into consideration any prior arrears?\u00a0<\/strong><\/p>\n<p><strong>A:<\/strong> Arrears are always a little tricky with refinanced outstanding amounts since a human must take a decision as to whether the new payments to be added are simply extra payments or are to compensate for the unpaid payments in the past. The examples will help&#8230;<\/p>\n<p>A most important column in the schedule is the &#8220;Expected Pmt&#8221; column. This column indicates how much was expected for this line and subtracts the actual payment amount from this amount to generate the Outstanding amount.<\/p>\n<ul>\n<li>On 07-06-2018 I was expecting 439.58 and got a 439.58 payment so Outstanding = 0.00.<\/li>\n<li>On 10-06-2018 I was expecting 439.58 and got 0.00 so Outstanding =\u00a0439.58 and so forth<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-10361 aligncenter\" src=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1b753faee.png\" alt=\"\" width=\"744\" height=\"268\" srcset=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1b753faee.png 880w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1b753faee-300x108.png 300w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1b753faee-705x254.png 705w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1b753faee-450x162.png 450w\" sizes=\"auto, (max-width: 744px) 100vw, 744px\" \/><\/p>\n<p>If an extra payment (unexpected in the normal scheme of things) is made, then the Expected Pmt should be 0.00 and the Outstanding is thus reduced.<\/p>\n<p id=\"TLDitgg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-10364 aligncenter\" src=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1ca5384f9.png\" alt=\"\" width=\"721\" height=\"274\" srcset=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1ca5384f9.png 871w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1ca5384f9-300x114.png 300w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1ca5384f9-705x268.png 705w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1ca5384f9-845x321.png 845w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1ca5384f9-450x171.png 450w\" sizes=\"auto, (max-width: 721px) 100vw, 721px\" \/><\/p>\n<p>If a loan is refinanced, you must make sure that as of this moment, your Outstanding amount gets progressively reduced to 0.00 and you do this with the Expected Pmt column in which you would put the Expected Pmt to 0.00 for the new payments that are added or changed to give 0.<\/p>\n<p>In the above example, the loan is refinanced with lower payment amounts since the 439 was too high for the borrower &#8211; 6 payments were added and these now become 175.20 to reach 0.00. One could argue that these payments are extra and thus the Expec. Pmt should be 0.00 for each, so we manually change the Expect. Pmt to 0.00.<\/p>\n<p id=\"TuWLGjQ\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-10369 aligncenter\" src=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1dbf58a15.png\" alt=\"\" width=\"741\" height=\"387\" srcset=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1dbf58a15.png 880w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1dbf58a15-300x157.png 300w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1dbf58a15-705x369.png 705w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1dbf58a15-450x235.png 450w\" sizes=\"auto, (max-width: 741px) 100vw, 741px\" \/><\/p>\n<p><strong>NOTE:<\/strong> In order to be allowed, to change the Expected Pmt amount, this must be allowed by the Margill Administrator in Settings:<\/p>\n<p id=\"KCmkWeO\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-10381 aligncenter\" src=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc250ae7fc6.png\" alt=\"\" width=\"521\" height=\"536\" srcset=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc250ae7fc6.png 666w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc250ae7fc6-292x300.png 292w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc250ae7fc6-36x36.png 36w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc250ae7fc6-450x463.png 450w\" sizes=\"auto, (max-width: 521px) 100vw, 521px\" \/><\/p>\n<p>As these new payment become paid over time, the Outstanding amount gets reduced&#8230;<\/p>\n<p id=\"ebnsJoe\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-10376 aligncenter\" src=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1f3c03f27.png\" alt=\"\" width=\"744\" height=\"428\" srcset=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1f3c03f27.png 868w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1f3c03f27-300x172.png 300w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1f3c03f27-705x405.png 705w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1f3c03f27-450x259.png 450w\" sizes=\"auto, (max-width: 744px) 100vw, 744px\" \/><\/p>\n<p>If on the other hand, a second amount (new Advance) was lent to the borrower and extra payments were added, then I would not change my Expected Pmts to 0.00 since these new payments become part of the normal payments, in the normal scheme of things. So Outstanding is quite subject to interpretation&#8230;<\/p>\n<p>I actually <em>cheated<\/em> below by entering 3 of the 12 new payments with Expected Pmt of 0.00 to bring my Outstanding back to 0.00. Outstanding must be 0.00 or greater, never less than 0.00 even if one could argue the borrower overpaid.<\/p>\n<p id=\"VNtHgdg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-10378 aligncenter\" src=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc21c74ea9f.png\" alt=\"\" width=\"752\" height=\"518\" srcset=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc21c74ea9f.png 906w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc21c74ea9f-300x207.png 300w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc21c74ea9f-705x486.png 705w, https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc21c74ea9f-450x310.png 450w\" sizes=\"auto, (max-width: 752px) 100vw, 752px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q: If a loan was refinanced and the payments revised based on the refinanced balance, can the loan account still be in arrears?\u00a0 Doesn&#8217;t the refinancing and revised payments take into consideration any prior arrears?\u00a0 A: Arrears are always a little tricky with refinanced outstanding amounts since a human must take a decision as to [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","footnotes":""},"categories":[405,193,404],"tags":[198,199,200],"class_list":["post-10357","post","type-post","status-publish","format-standard","hentry","category-margill-loan-manager-documentation","category-knowledge-base","category-margill-loan-manager","tag-ageing-report","tag-outstanding","tag-refinanced-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Margill Loan Manager - Ageing report - with refinanced loans - Margill<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/margill.com\/en\/margill-loan-manager-ageing-report-with-refinanced-loans\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Margill Loan Manager - Ageing report - with refinanced loans - Margill\" \/>\r\n<meta property=\"og:description\" content=\"Q: If a loan was refinanced and the payments revised based on the refinanced balance, can the loan account still be in arrears?\u00a0 Doesn&#8217;t the refinancing and revised payments take into consideration any prior arrears?\u00a0 A: Arrears are always a little tricky with refinanced outstanding amounts since a human must take a decision as to [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/margill.com\/en\/margill-loan-manager-ageing-report-with-refinanced-loans\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Margill\" \/>\r\n<meta property=\"article:published_time\" content=\"2019-11-25T18:53:56+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2025-10-10T13:39:19+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/margill.com\/wp-content\/uploads\/2019\/11\/img_5ddc1b753faee.png\" \/>\r\n\t<meta property=\"og:image:width\" content=\"880\" \/>\r\n\t<meta property=\"og:image:height\" content=\"317\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\r\n<meta name=\"author\" content=\"Marc G\u00e9linas\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Marc G\u00e9linas\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/margill.com\/en\/margill-loan-manager-ageing-report-with-refinanced-loans\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/margill.com\/en\/margill-loan-manager-ageing-report-with-refinanced-loans\/\"},\"author\":{\"name\":\"Marc G\u00e9linas\",\"@id\":\"https:\/\/margill.com\/en\/#\/schema\/person\/72f5aeeb0d0d040309ac495539c5fb81\"},\"headline\":\"Margill Loan Manager &#8211; 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