Tango News

News relating to Tango32 Loan Management System. For product information visit the Tango32 Product Page.

The latest version of Tango32 Download and the History of Changes.

Tango32 V3.96 Released

Investments

  • New options on Investment Business Codes to specify the default settings for the flags "Pay Interest When Due" and "Pay By Direct Debit"
  • Fix length of parameters when printing Rollover form letters using the printing wizard
  • Fix bug in Rollover Printing Wizard which was counting ROI accounts twice.
  • Added min/max term to Investment Issues and Series
  • New option on Investment Payout Quotes to ignore "Pay Interest When Due" flag so that the quote includes interest that would normally be paid to the investor instead of being capitalized.
  • New option in Setup Parameters to delay the processing of a new investment until the "As At" date of processing is on or after the start date of the investment.
  • New option in Setup Parameters to prevent posting of transactions to completed investments.
  • Fix bug which ommitted "Additional Funds" when using the Rollover Wizard to process non-ROI investments.
  • "Additional Principal" now appears on the report when new investments are activated.
  • Modified system to prevent posting of automatic IC / IP transactions after maturity date
  • Modified system to allow rolling of non-ROI accounts into ROI accounts.
  • Fixed bug with IV statements not showing interest on sub account unless main account had transactions on/after the interest date on the sub account.
  • Fix bug with incorrect interest schedule and projected balance on account where interest hasn't been charged on an investment yet
  • Fix bug which incorrectly compounded interest on "Pay Interest When Due" accounts for payout quotes that spanned an interest boundary.
  • Fix rounding errors on IV payout quote


Loans

  • Classification5 (Dynamic Classification) now has new parameters:
@AsAtDate DATETIME    - the "As at date" of the calculation
@D1 INT            - days in arrears on the first day of the month
@D2 INT            - days in arrears on the "As at date"
@E1 DATETIME        - The "Effective Date of Default" of the loan
@B1 BIT            - Whether or not the loan is in default


  • Added a new subledger flag to include all scheduled future subledger charges in a Discounted Present Value payout quote.
  • Fix bug which caused an error because of a null "Due Date" when posting drawdowns which extend term of a loan.
  • Modified posting of VOID transactions to ensure they reverse out Subledger History as well,
  • New facility on the "Change Responsibility" screen to set a borrower to be the "Primary" borrower of a loan.
  • Improved performance / speed up special charges screen on a loan when there are no penalty debits.
  • Fix Interest Only loans which automatically adjust repayment amount where the loan starts on the first of the month.  Previously, interest charged on the last day of the month was changing payment due on the first day of the same month.  It should have been charging the payment due on the first day of the next month.
  • Fixed bug which made duplicate payments to linked investors when backdating interest on a loan.
  • Fix bug which caused "Void" transactions to hide other transactions entered on same day when Consolidation was enabled on a customer statement.
  • Fix bug with reversals not being correctly processed in linked investments.
  • Fix NULL error when getting totals for loans on the client form
  • Prevent overflows for unusually high balances when calculating yield rates.
  • Add "GeneralPurpose11" and "GeneralPurpose12" to the API to add new loans


Tango32 V3.95 Released

Version 3.95 8 March 2012

General

  • Enhanced Ad Hoc Query system to be able to import data



Loans

  • Fixed bug with API calls from external programs such as Phoenix which were creating incorrect repayment schedules for hybrid loans.
  • fixed bug with "Repair Schedule" when fees were scheduled to end of term of a loan.
  • Fixed "zero divide" error and incorrect handing of fees when they were charged advance on P&I report
  • Fixed problem with double up of "date due" in repayment schedule where a loan has several different repayment amounts
  • Fixed bug which updatied wrong schedule entries when adding a subledger to a loan.
  • Fixed bug in recalculation of loan totals for leases.
  • Improved schedule extension logic for drawdowns that reactivate loans
  • Improved accuracy of repayment calculations when drawing down on Interest Only Accounts.
  • Modified Direct debits export process to use "Transaction Description" as the transaction narrative
  • Add new payout method: A: Interest Paid In Advance
  • Changed logging system to include changes to client phone numbers in the log.
  • New facility to import external documents (PDF, DOC, RTF etc) into the diary reminders for a loan.
  • Modified Deli System to include penalty fees as part of the arears balance.
  • Modified logic for "Next Due Date" calculation to take into account penalty fees.
  • Fixed bug which caused arrears adjustments to cause incorrect payout quotes when using the discounted present value method


Investments

  • New Investment Rollover / Payout Wizard to automate the rollover process for investments
  • New Form Letter Printing Wizard for printing batches of form letters related to investment payouts / rollovers
  • Fix rounding issue when compounding interest over several months
  • Fix payout quote to include projected interest between last interest run and "as at date" of quote
  • Fixed bug in investment Balance projection report which was out one day on interest calcs which affected Payout Quotes
  • Improved order of payout / rollover transactions on Investment statements
  • Modified Direct Credit System to prevent Investment payouts generating direct credits
  • Fixed Monthly Investment Interest Process to correctly handle accounts imported from IBS where some EOM accounts don't actually have interest credit at the end of the month.
  • Modified Commission Report to show Loan Balance & Interest Rate as at Period End Date
  • New HistoricBalanceAtMaturity keyword for form letters
  • Modified Setup / Parameters to use a separate numbering range when generating investment account#'s

Tango32 Version 3.94 Released

Loans

  • Modified Statement Fee charging option to use the DR GL Account from the Business Code of the loan being charged if the subledger for the fee does not have a DR GL Account.
  • New option on Business Codes to charge ODI as a debit, and to specify a related subledger.
  • New option on Delinquency Reporting System to specify a filter used to calculate totals used as a basis for percentages in the footer of the report.
  • New facility to add Loan Assets via XML from an external system such as Phoenix.
  • New facility to specify up to 5 related clients when adding a new Loan via XML from an external system such as Phoenix.
  • Improved accuracy of projections on the P&I Reduction Report, and Projected Net Balances  - especially when a repayment includes a recurring charge such as GST.
  • New "Payway" Export Format for Direct Debit and Credit Card transactions.


Investments

  • Fixed inaccuracy in interest calculations when rolling over an ROI investment account.
  • Fixed inaccuracy in interest projection report.
  • Fixed rounding error in IV Payout Quote


Tango32 Version 3.93 Released

15 November 2011

Investments

Fixed interest balance projection for accounts where interest is paid to investor when due.

Fix interest projection report when account starts on the last day of an interest period

Modified payout quote on investments where interest is paid to investor rather than being capitalized.  The interest credit and interest payment now both show on the payout quote.

Loans

Prevent changes to the "Outstanding Balance" field on the "Change Schedule" form.

Modified Statement Fee logic to use GL Debit from Business Code if one is not supplied on the subledger.

Added a "Do not solicit" flag to clients which can be referenced when generating form letters.

Modified system to store the Interest Only term for each hybrid loan rather than extracting this info generically from the Business Code.  (This allows hybrid loans in the same business code to have different Interest Only terms.

New facility to display Projected Loan Balance based on History to date as well as Projected balance based on Schedule only.

Added a new "Subledger Type" table which allows classification of Subledgers for use in reporting.

New "Commission Statement" report to display upfront and trailing commissions for each loan per Introducer.

Fixed bug in recalculating repayments for Interest Only loans.

Modified "Days In Arrears" calculation to include penalty fees.

New calculation methods to specify how repayments should be calculated when the interest rate changes on a loan.

New logic to Lock the Repayment Schedule of Active Loans, but still allow changes via the "Change Schedule" form.

Changed logic on Interest only loans where the repayment schedule must be updated to match interest charges:  This will now happen even when the repayment schedule on the account is locked.

Loans - Diary Reminders / Tasks

A new facility to tick a diary reminder so that it will appear in a new "Task List".
New options under the client menu to display "My Tasks" and "All Tasks".

Loan Repayment Schedules

Fix bug with due dates for loans that have interest charged on their Anniversary Day when the loan settles on the 30th of the month.

Loan Repayment Calculations

Improve accuracy of repayment calculations for large principal amounts (> $1m)

Loan Interest Calculations

Fix bug recalculating backdated interest when ODI was charged last interest run and it affects the balance
Ensure backdating transactions prior to first interest run generates an adjustment if required


Loan Receipt Allocation Report

Improve accuracy of allocation when account is paid ahead but still in arrears due to fees

Loan Delinquency Reports

New "Disable" flag to hide old reports from being displayed.
New format 12 delinquency report.
Fixed bug which didn't show totals on some reports.

Investment Interest Calculations

When an investment is paid interest in frequencies other than monthly, ensure investment interest compounds on the last day of the period.

Investment Payouts

Investment Payouts now include balances from related sub-accounts.
Improve accuracy of payout quote of a sub account when the parent account is complete
Added validity check to ensure rollover transactions can't predate the target investment.

Loan Repayments - Variable Rate

Fix bug when trying to change repayment schedules one month after settlement.

Loan Subledgers

Fix bug which caused excessive transactions when the same subledger is added to a loan more than once.
Fix bug which duplicated subledgers when browsing backwards and forwards between loans then clicking on the subledger tab.







Tango32 Version 3.91 Released

Loans- Business Codes

A new option to specify the number of days after a rate change / interest run to schedule a new repayment calculation when the rate changes.  You now have the ability to specify a different number of days for the interest-only and principal portions of a hybrid loan. 

A new option to preserve any unpaid / overdue entries in the repayment schedule when changing the schedule.

A new option to charge all fees as "D" (Debit) transactions instead of "2" (Special Charge) transactions, and to have those debits affect the arrears balance of the loan. 

The arrears details form will now also show outstanding fee balance for any debit fees applied to a loan.

Loans - ODI

Improved the accuracy of Overdue Interest Calculations on accounts where interest is charged on the Anniversary Day where days of grace are specified.

* Loans - Repair Schedule

Fixed Infinite Lopp Bug, and incorrect allocation of special charges when repairing the schedule of a Line-of-Credit loan.

Completed Loans Report

Improved accuracy of report to ensure reversals of paid-in-full accounts net out the outstanding special charge balance on an account.

Loans - Principal / Interest & Projected Balance

Improved the accuracy of the Principal / Interest Report, and Projected Balance estimates for Interest Only accounts.

Fixed bug which did not take drawdowns into account when calculating a projected net balance.

Loans - Variable Rate / Drawdown

Improved the accuracy of repayment re-calculations when varying the rate or applying drawdowns to a loan.

Loans - Receipt Allocation Report

Improved the speed and accuracy of the receipt allocation report.

Loans - Extended direct debits

Fixed a bug when extending direct debits on accounts past their due-to-complete date, to ensure payments due on the day of the interest run are properly included

Loans - Mortgage Security

Add Unit / Lot Number to a security item.

Loans - Repayment Calculations

Improved accuracy of repayment calculations for large (> $1m) loans.

Loans - Transaction Entry

A new facility in Setup / Parameters / Loan-2 to restrict the transaction types allowed when manually entering transactions.

Investments

Improved Accuracy of projected interest charges on the Interest Schedule report.

Fixed bug on projected balance calculation which ignored transactions on the account dated after the last interest run.

Improved accuracy of Investment Payout Quote to match projected balance.

Tango32 Version 3.90 Released

Loans

  • Fix bug with interest rebates not appearing on payout quotes for accounts that had not yet been through an interest run.
  • Improved the accuracy of the "Change Schedule" option for accounts that are already active.
  • New "RepaymentFrequency" parameter when using the API to create new loans.
  • Fixed "Ambiguous column TransactionDate" error on the Receipt Allocation Report

Tango32 Version 3.89 Released

Loans

  • New option on subledgers "Include On Receipt Allocation Report" which will treat any transactions for this subledger as Holdback Income on the receipt allocation report.
  • Fixed bug when creating interest only repayment schedules to improve the accuracy of repayment amounts based on the number of days in a month.
  • Fixed inaccuracies in the "Projected Balance" fields on the loan form.
  • Fixed inaccuracies in ODI calculations which were based on the number of days in arrears.
  • Fixed inaccuracies in interest-only calculations on accounts where interest was charged on the anniversary day of the loan.
  • Fixed GL journal inaccuracy when posting a bad debt transaction on a flat cancellation.
  • When posting flat cancellations, prevent "Early Payout Fee" from being charged.
  • Modified Loan Summary Report to optionally include "Security Category".
  • New Report: Fee Reconcilliation Report (Report/ Transactions / Fee Reconcilliation)


Tango32 Version 3.88 Released

Loans

  • New bank transaction import format "PayWay".
  • New fields on Loan form show projected net balance inclusive and exclusive of current months interest.
  • New options on Business code to calculate new repayment amounts after drawdowns and rate variations based on Projected Net Balance Inclusive and Exclusive of current month interest.
  • The Loan Summary Report now has an option to include both ODI and Special charges on the report.
  • Fixed bug in Transaction Audit Report which mistakenly included reversals of special charges in the "Reversals" section instead of the "Special Charges" section.

Tango32 Version 3.87 Released

Sumary of changes:The "Original Term" of a loan is now recorded for historical purposes.New option to add the "Days of Grace" when working out the arrears balance in ODI calculations.New "Discharge Date" and "Discharge Amount" on Loan Securities.Loan LVR calculations now include "Scheduled" LVR which is based on the scheduled (as opposed to current / net) balance of the loan.New logic to allow the calculation for new repayment amounts to be based on the Scheduled (as opposed to current / net) balance when drawing down additional funds from a loan.New function to update the diary reminders when a drawdown affects the repayment amount of a loan.Fixed bug with Loans that move into Inertia which created multiple schedule entries the first time the account moved into inertia.Fixed bug where subledgers that were supposed to be charged in advance were not being charged when a loan activated.New option in Setup / Parameters which forces recreation of "chg" entries from Special Charges when repairing accounts.Fixed bug which incorrectly allocated payments against special charges when the account was past its maturity date.Tightened data validation to ensure an interest rate change date does not occur prior to a "Defer Interest Until" date for deferred interest accounts.

Version 3.86 Released

Loans

  • New facility to exclude special charges when generating direct debits.  To enable this, go into Setup / Business Codes, and tick the box "Direct Debits Exclude Special Charges".  If this option is set at the business code level, it can be disabled for individual loans on the repayment schedule screen by ticking the box "Direct Debits include special charges".
  • New facility to exclude Residual Values from inertia processing.  To enable this, go into Setup / Business Codes and tick the box "Exclude RV from Inertia".  You can also set an option which will only let Payout Transactions be allocated against the Residual Value in the repayment schedule.  Normal payments will then not be allocated to the RV.  To enable this option tick the box "Only allocate Payouts to RV".
  • New facility in subledgers to charge a subledger in advance.  To enable this, go into Setup / Subledgers and tick the box "Charge In ADvance".  When ticked, any monthly subledgers will be charged when a loan activates, and then on the day following an end of month interest run.
  • There is now a new report format "11" for the Delinquency System.
  • Drawdowns - fixed bug which reactivated loans incorrectly when a drawdown was posted to the account.
  • ODI - fixed bug which calculated incorrect ODI amount when the system was set to calculate arrears from the day after the due date.
  • Arrears Calculations - fixed bug which incorrectly included fee payments in advance twice when the account was paid in advance.
  • Current / Non-Current Report - fixed bug which showed incorrect calculations when the net balance exceeded the gross balance.
  • Principal and Interest Report - fixed bug which showed incorrect balances for an account with drawdowns.
  • New fields "Risk Grade" and "Risk Rating" are now available on the Clients form.
  • A new optional request / complaint handling module is available which links into the Diary Information on a loan.
  • Introducer Analysis Report - when subtotalling by Classification, now shows Classification Description instead of Classification ID.
  • Insurance Premium Renewal Report now shows individual loan securities rather than one entry per loan.  It also shows Title Reference instead of Security Description.
  • Variable Rate Loans have a new repayment calculation method.  When the interest rate changes, the new repayment can optionally be calculated based on the Scheduled (instead of Actual) net balance.
  • Hybrid and Interest Only Loans now show the interest only expiry date.  This date can be used as the selection criteria for creating bulk form letters.
  • Customer Statements now have a new option to only consolidate payments and special charge payments generated from the same transaction - which effectively hides the splitting of repayments against special charges on the statement.
  • Special Charges - Fixed bug when allocating "Current Month" due amounts before fee balances.  Previosuly if the account was due on the first day of the month, the system would mistakenly allocate Next Month as well.
  • Interest Calculations for Anniversary Day Accounts.  Fixed calculation error on anniversary day accounts when the due date in the month occurred on a day that didn't exist in the previous month (e.g. calculating interest on 30 March when interest last month was calculated on 27 Feb).
  • Loan Securities now show a "Scheduled LVR" as well as "Original" and "Current".

Investments / Other Accounts

  • New option in Transaction Types to specify whether a particular transaction includes GST for use on RCT Invoices.