Incorrect interest accrual on HELOC loans for draws taken after paying down the loan to zero
When a draw is taken after paying down a HELOC loan to zero (both interest and principal amounts paid down to zero), the system incorrectly calculates interest for the draw amount from the date the loan was paid down.
Root Cause: The system does not update the interest accrued Through Date correctly for draws made after paying down the loan to zero.
Workaround:
- Go to the Draw Balance screen.
- Update the Through Date to the date before the date of the draw.
ArticleNumber:
000074203