Establishing Late Fees
Late fee penalty structures are established on each loan. These settings impact grace days, charge calculations, and distribution for late fees as they are encountered.
For more information on adding or editing Late Fee penalties on a loan, please visit How to add or edit penalties in the terms of a loan.
Visibility in Portals
When Late Penalties are added to a loan a reflection is available of this for Borrowers to view directly in their portal. Borrower see a 
icon next to their upcoming payment amount. When a Borrower hovers their cursor over this icon, a floating box appears to provide a breakdown of how their late penalty will be calculated. 