The Amortize Draw tool creates a repayment plan for a specific draw on a Line of Credit loan. Use this during a hardship situation to allow the borrower to pay back a draw over a longer period with structured payments.
Availability: All clients Required permissions: loan:paymentplan.create Loan status: active Loan types: Line of Credit only
- This tool is not available for draws with a weekly payment frequency.
- You can either set a new duration (number of months remaining) or a new recurring payment amount — the system calculates the other value automatically.
- From the agent-view Borrower Portal, open the Line of Credit loan and select Loan options > Amortize draw.
- Select the Draw to amortize from the Applicable to dropdown.
- Review the Current terms displayed for the selected draw.
- Choose a custom plan option:
- None, use the frequency above — The system re-amortizes the draw without changing the duration. The recurring amount may change if the frequency differs.
- New remaining duration — Enter the total number of months remaining. The system calculates a new recurring amount.
- New recurring amount — Enter the new payment amount. The system calculates a new duration.
- Select Preview to generate the updated payment schedule. Review the schedule before confirming.
- If your company requires a Case ID, select a case from the Case ID dropdown. See Global behaviors — Case ID requirement.
- Select Amortize draw.
The new repayment schedule takes effect immediately for the selected draw.
| Field | Description | Required | Values / Format |
|---|---|---|---|
| Applicable to | The draw to amortize. | Yes | Select from draws on the loan |
| Current terms | The current payment details for the selected draw. | — | Read-only display |
| Custom plan | Whether to specify a new duration, a new amount, or use the default. | Yes | Radio: None (use frequency), New remaining duration, New recurring amount |
| Duration | The new total number of months remaining. Only shown when custom plan is New remaining duration. | Conditional | Number |
| Recurring amount | The new recurring payment amount. Only shown when custom plan is New recurring amount. | Conditional | Currency |
| Payment schedule | Preview of the updated schedule. Select Preview to generate. | Yes (must preview) | Read-only display |
| Case ID | The case associated with this action. | Conditional | Select from open cases. Required when forceCaseIdOnAgentActions is enabled. |