Loan Action: Fore Closure

POST Foreclosure

The SynoFin Foreclosure API endpoint allows users to start foreclosure processes for loans. It's a handy tool for initiating foreclosure requests, specifying important details 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:

Retrieve Data for Loan Foreclosure

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:

Schema

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": ""
}

Response:

Success: 200 OK

Schema

Expected Error Code and Message

Error Code	Error Message	Resolution
1015000	Interest till date can't be empty	Ensure that the interest till date is provided.
1015000	Maturity Closure Date is not given	Provide the maturity closure date.
1015000	Maturity Closure Date cannot be null	Ensure that the maturity closure date is not null.
1015000	Pay or revert all TDS	Pay or revert all TDS (Tax Deducted at Source).
1015000	Principal waiver amount should be less than total payable amount	Ensure that the principal waiver amount is less than the total payable amount.
1016008	Please Realize all the receipts before foreclosure	Realize all receipts before proceeding with foreclosure.
101626	There is no pending installment, cannot do Foreclosure	Ensure that there are pending installments before initiating foreclosure.
1017032	Loan is not active	Activate the loan before proceeding.
1017033	Total payable is less than total dues	Ensure that the total payable amount is greater than or equal to the total dues.
1017034	Net closure amount should not be greater than 0	Ensure that the net closure amount is not greater than 0.
1017035	Waived amount should be less than or equal to the outstanding amount	Ensure that the waived amount is less than or equal to the outstanding amount.
101774	Please approve or reject already initiated requests	Take action on already initiated requests by either approving or rejecting them.
101784	Cannot proceed for Foreclosure if Loan is not fully Disbursed	Ensure that the loan is fully disbursed before proceeding with foreclosure.
30028	There are outstanding installments after foreclosure request was created. Please reject previous request and create a new foreclosure request	Reject previous requests and create a new foreclosure request.

Attribute	Type	Description	Mandatory
response	Boolean	Response status	Yes
data	Object	Data object	No
result	String	Result value	No
status	String	Status of the request	No
service_request_id	Integer	ID of the service request	No
unique_transaction_number	String	Unique transaction number	No
error	Any	Error details	No

Body

{
    "response": true,
    "data": {
        "result": null,
        "status": "initiated",
        "service_request_id": 1234,
        "unique_transaction_number": null
    },
    "error": null
}

Internal Validation Error: 200 OK

Schema

Attribute	Type	Description	Mandatory
response	Boolean	Response status	Yes
data	Object	Data object containing additional details	No
unique_transaction_number	Any	Unique transaction number	No
error	Object	Error object containing error details	No
code	Integer	Error code	No
text	String	Error message	No

Body

{
    "response": false,
    "data": {
        "unique_transaction_number": null
    },
    "error": {
        "code": 101626,
        "text": "There is no pending installment, cannot do Foreclosure"
    }
}

Loan Action: Fore Closure

POST Foreclosure

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

Run in Postman: Loan Foreclosure

Request:

Query Params:

Response:

Success: 200 OK

Internal Validation Error: 200 OK

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

Run in Postman: `Loan Foreclosure`