There must be a history record to calculate prepaid interest.
Root Cause:
In the case of a new loan, if no payment has been made yet, but the loan will be paid off now, you may receive this error when you try to calculate a payoff or produce a payoff quote letter.
Fusion Servicing Director needs some historical information to create a payoff request.
Workaround:
As a workaround, use a payoff date at least one day after the first payment due date to calculate a payoff and create a payoff letter.
To update the loan due date.
Because of the adjustment, you may need to make some adjustments to the payoff totals to ensure accuracy in the payoff quote.
To make an adjustment to the interest that will be done once the payoff is quoted and the loan is entered into a payoff batch you can then adjust the interest due.
ArticleNumber:
000041514