PaymentGroup

A PaymentGroup is a collection into which some Servicers organize borrower Loans. These groups are very Servicer-specific. Some Servicers will group loans by loan type, others by federal student loan programs, and still others by a combination of factors like type, interest rate, disbursements, and more.

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New in v1.0.5!
A PaymentGroup often provides the most accurate data for highly important properties—such as monthly payment, past due amounts, fees, transaction amounts, and more. Take particular note of the monthly_payment.estimated value—when true, this means Payitoff has determined the exact dollar amount of a group-level monthly payment, from which loan-level monthly payments will be calculated to be as accurate as possible, even when a Servicer doesn't directly expose loan-level payment info.

Schema Definition

Property	Type	Format	Description
`id`	`string`	`uuid`	A unique UUID identifier for this `PaymentGroup`.
`monthly_payment`	`object`	`GroupMonthlyPayment`	An object that describes the details of a `PaymentGroup` monthly payment.
`name`	`string`		The name by which a Servicer defines this group.
`payment_reference_number`	`string` or `null`		The account number needed to allocate payments to this group.

Example

{
  "id": "f7498357-844d-4d0e-a0e9-573003cada13",
  "monthly_payment": {
    "current_amount_due": "0.00",
    "estimated": false,
    "next_payment_due": "2022-04-01",
    "past_due_amount": "0.00",
    "scheduled_amount": "445.45"
  },
  "name": "AJ",
  "payment_reference_number": null
}

📘New in v1.0.5!

Schema Definition

Example

📘
New in v1.0.5!