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Loan actions

Every operation you can perform on a loan, what it does to the ledger and status, and which states it's allowed from. All are permission-gated (loans.write, except the read-only pay-up quote) and each is a single, atomic operation. In the console they're the buttons on the loan detail header (plus reverse/refund, reached from a payment).

Origination & funding​

Originate​

Prices a loan with the calculator and saves it as Draft — a Loan plus its initial calculation and installments. No money moves yet.

Activate​

Opens the loan for servicing and moves it to Active: records the disbursement, opens the ledger with the outstanding principal, and starts the schedule. How the money moves depends on origination:

  • Loanly-disbursed (console) — the payout is dispatched to the bank rail in the background.
  • Partner-funded (partner API) — the partner's system already paid; activation records an external disbursement only. See Disbursement.

Collecting​

Take payment​

Records an incoming payment and applies it through the waterfall (penalty → interest → fee → principal). Anything beyond what's owed becomes borrower credit (available credit).

Reverse payment​

Reverses a previously-applied payment — a returned direct debit or a charge-back. It marks the payment Reversed, unwinds each allocation from the installment it hit, restores the principal on the ledger with a compensating Adjustment entry, and re-opens the affected installments. Append-only: the original payment stays on record, the reversal is a new fact.

Refund​

Pays back borrower credit built up from overpayment. Credit is the net of every payment's unapplied amount; a refund is booked as an offsetting (negative-unapplied) payment row so the running credit nets down and the history stays append-only. Credit never entered the principal ledger, so a refund posts no principal movement.

Restructuring​

Prepay​

An extra principal payment (curtailment) that reduces the balance and then re-amortizes the remaining schedule on the lower balance — producing a new calculation with the same term but smaller installments.

Re-term​

Puts an active loan on a new schedule: a new installment count and/or a new rate, re-amortizing the outstanding principal. The prior schedule is superseded (kept in History); any open bank claims are recalled.

Pay up (early settlement)​

Two steps: quote the payoff figure as of a date (read-only — outstanding principal + accrued interest

  • any fee), then settle to collect it and close the loan to Settled.

Closing​

Default​

Marks an active loan Defaulted and moves servicing to In collection. The balance stays on the ledger; collection continues.

Write off​

Writes off an uncollectible loan: posts a Write-off ledger entry for the full outstanding balance and moves the loan to WrittenOff. Allowed from Active or Defaulted.

For the states these transition between, see Loan lifecycle; for how the same set is exposed to integrators, see the Partner API lifecycle.