Loan Action: Fore Closure

POST Fore ClosureForeclosure

The SynoFin Foreclosure API endpoint ~~enables~~allows users to ~~initiate~~start foreclosure processes for loans. ~~This endpoint provides~~It's a ~~convenient~~handy ~~method~~tool for initiating foreclosure requests, specifying ~~relevant~~important details ~~such as~~like outstanding charges, closure type, and transaction dates.

To make use of this API effectively, certain attributes fetched from the master need to be added to SynoFin Master either through the Admin panel or by contacting the Synoriq support team. Sample values are provided in the API documentation, which can be utilized for testing purposes.

To carry out a loan foreclosure, users must gather data for charges and other necessary information. This enables them to execute the foreclosure process effectively. Here are the methods users can employ to retrieve the required data for loan foreclosure:

Retrive Loan Foreclosure Information

In order to retrieve information for loan foreclosure, users are required to utilize the SynoFin getDataForLoanAction API. This API facilitates the retrieval of all necessary information.

API Endpoint: {{base_url}}/loan-modification/v1/service-request/getDataForLoanActions

Run in Postman: Get Data for Loan Action

Request Body

{
    "loan_id": "123", //Change with actual laon Id
    "request_id": "foreclosure"
}

Response Body

{
    "balance_tenure": 0,
    "total_dues": 503289.2,
    "loan_service_charge_rate": 8,
    "loan_service_charge_amount": 0,
    "refunds": 0,
    "principal_outstanding": 418536,
    "unrealized_receipt": 0,
    "outstanding_charges": [
        {
            "charge_id": 123,
            "charge_label": "Late Payment Interest",
            "total_outstanding_amount": null,
            "type": "charges",
            "original_amount": 75685.2,
            "charge_definition_id": null,
            "excess_money_id": null,
            "loan_id": null,
            "disbursal_schedule_id": null,
            "charge_code": "lpp",
            "outstanding_amount": 75685.2,
            "amount_in_process": null,
            "payment_status": null,
            "paid_amount": null,
            "total_paid_amount": null,
            "total_paid_amount_in_process": null,
            "paid_amount_in_process": null,
            "allocated_amount": null,
            "reason": null,
            "payment_date": null,
            "repayment_id": null
        }
    ],
    "interest_due": 0,
    "pending_installment_amount": 427604,
    "total_waived_amount": 0,
    "per_day_interest": 0,
    "next_installment_presentation_date": null,
    "excess_money": 0,
    "net_closure_amount": 503289.2,
    "last_due_date": "06-09-2028",
    "overdue_principal": 0,
    "lockin_period": 0,
    "total_waiver_amount": null,
    "balance_principal": 0,
    "advance_installment": 0,
    "settled_amount": null,
    "write_off_amount": null
}

`URL: {{base_url}}/loan-modification/v1/service-request/save`

Run in Postman: `Loan Foreclosure`

Request:

Request Type: POST

Authorization: Bearer Token

Query Params:

Attribute

Attribute Data Type Description Mandatory

service_request_type string Type of service request (foreclosure) Yes

service_request_subtype string Subtype of service request (2) No

loan_id string ID of the loan Yes

balance_tenure string Remaining tenure of the loan No

total_dues number Total outstanding dues on the loan No

unrealized_receipt string Unrealized receipt amount No

last_due_date string Date of the last due payment No

closure_date string Date of foreclosure closure Yes

interest_till_date string Date until which interest is calculated Yes

loan_service_charge_rate number Rate of loan service charge No

loan_service_charge_amount number Amount of loan service charge No

refunds number Refund amount No

interest_due number Due amount of interest No

balance_principal string Remaining principal balance No

principal_outstanding number Outstanding principal amount Yes

excess_money string Excess money available No

advance_installment number Advance installment amount No

per_day_interest number Interest accrued per day No

net_closure_amount number Net closure amount No

lockin_period number Lock-in period duration No

reason

string

Fetched for Synofin Master

In the following key-value pair,
the user is required to pass the key corresponding to the desired closure reason.

Click the link below to get the key for the foreclosure reason.
Get Foreclosure Master

Yes

closure_type

string

Fetched for Synofin master

Key

own_fund

external_bt

internal_bt

Yes

waiver_users string Users eligible for waiver No

uploadFile string File upload for documentation No

total_waiver_amount number Total amount waived No

is_write_off boolean Flag indicating if it's a write-off No

write_off_amount number Amount to write off No

settled_amount number Settled amount No

outstanding_charges

array

Array of outstanding charges

(Outstanding Charges Details)

remarks string Additional remarks No

payment_on_hold_reason string Reason for holding payment No

other_reason string Any other reason No

total_waived_amount number Total amount waived No

transaction_date string Date of the transaction Yes

service_request_id string ID of the service request No

Outstanding Charge Details

Attribute	Data Type	Description	Mandatory
charge_id	Integer	Unique identifier for the charge	Yes
charge_label	String	Label describing the charge	Yes
total_outstanding_amount	Double	Total outstanding amount (if applicable)	No
type	String	Type of charge (e.g., charges)	Yes
original_amount	Double	Original amount of the charge	Yes
charge_definition_id	Null	Identifier for charge definition (if applicable)	No
excess_money_id	Integer	Identifier for excess money (if applicable)	No
loan_id	Integer	Identifier for the loan (if applicable)	No
disbursal_schedule_id	integer	Identifier for disbursal schedule (if applicable)	No
charge_code	String	Code representing the charge	Yes
outstanding_amount	Double	Current outstanding amount for the charge	Yes
amount_in_process	Double	Amount currently in process (if applicable)	No
payment_status	String	Status of payment (if applicable)	No
paid_amount	Double	Amount paid (if applicable)	No
total_paid_amount	Double	Total amount paid (if applicable)	No
total_paid_amount_in_process	Double	Total amount paid in process (if applicable)	No
paid_amount_in_process	Double	Amount paid in process (if applicable)	No
allocated_amount	Double	Amount allocated (if applicable)	No
reason	String	Reason for the charge (if applicable)	No
payment_date	Date	Date of payment (if applicable)	No
repayment_id	Null	Identifier for repayment (if applicable)	No
waiver	String	Amount waived for the charge	Yes

Body

{
    "service_request_type": "foreclosure",
    "service_request_subtype": "2",
    "service_type": "",
    "loan_id": "123",
    "request_data": {
        "balance_tenure": "0",
        "total_dues": 0,
        "unrealized_receipt": "0",
        "last_due_date": "04-06-2028",
        "closure_date": "2029-03-03",
        "interest_till_date": "2029-03-03",
        "loan_service_charge_rate": 8,
        "loan_service_charge_amount": 0,
        "refunds": 10001.5,
        "interest_due": 0,
        "balance_principal": "0",
        "principal_outstanding": 206250,
        "excess_money": "0",
        "advance_installment": 10000,
        "per_day_interest": 0,
        "net_closure_amount": 20001.5,
        "lockin_period": 0,
        "reason": "1332",
        "closure_type": "own_fund",
        "waiver_users": "others",
        "uploadFile": "",
        "total_waiver_amount": 278811.62,
        "is_write_off": false,
        "write_off_amount": 206250,
        "settled_amount": 0,
        "outstanding_charges": [
            {
                "charge_id": 1234,
                "charge_label": "Late Payment Interest",
                "total_outstanding_amount": null,
                "type": "charges",
                "original_amount": 75685.2,
                "charge_definition_id": null,
                "excess_money_id": null,
                "loan_id": null,
                "disbursal_schedule_id": null,
                "charge_code": "lpp",
                "outstanding_amount": 75685.2,
                "amount_in_process": null,
                "payment_status": null,
                "paid_amount": null,
                "total_paid_amount": null,
                "total_paid_amount_in_process": null,
                "paid_amount_in_process": null,
                "allocated_amount": null,
                "reason": null,
                "payment_date": null,
                "repayment_id": null,
                "waiver": "75685.2"
            },
            {
                "charge_id": 456,
                "charge_label": "Total Interest Outstanding",
                "total_outstanding_amount": null,
                "type": null,
                "original_amount": null,
                "charge_definition_id": -2,
                "excess_money_id": null,
                "loan_id": null,
                "disbursal_schedule_id": null,
                "charge_code": null,
                "outstanding_amount": 9068,
                "amount_in_process": null,
                "payment_status": null,
                "paid_amount": null,
                "total_paid_amount": null,
                "total_paid_amount_in_process": null,
                "paid_amount_in_process": null,
                "allocated_amount": null,
                "reason": null,
                "payment_date": null,
                "repayment_id": null,
                "waiver": "9068"
            }
        ],
        "remarks": "",
        "payment_on_hold_reason": "",
        "other_reason": "",
        "total_waived_amount": 0,
        "transaction_date": "2029-03-03"
    },
    "service_request_id": ""
}