- 27 Apr 2022
- 1 Minute to read
- Print
- DarkLight
Changing the Payoff Date Calculation Method
- Updated on 27 Apr 2022
- 1 Minute to read
- Print
- DarkLight
This guide will help you change the payoff calculation method, which allows the lender to decide whether or not they want to collect interest on the payoff date.
To change the payoff calculation setting, you'll want to navigate to the Admin tab and look for the 'Other Settings' tab on the left-hand list of items.
Once there you'll want to click on the 'Edit' button to change the payoff calculation method.
After clicking the Edit button you'll be allowed to change the 'Collect Interest on the Date of Payoff' setting to 'Yes' or 'No'.
Once you've selected your desired payoff date calculation method, click on the 'Save Changes' button and you're done.
To verify these changes feel free to compare the payoff date calculation amounts by going to a loan and using the payoff calculator.
Please contact Bryt support if you have any further questions. Thanks!