Loan Manangement Product

1
C308 Project ProposalFall 2007Indiana
University of South Bend

• Loan Manangement Product

2
Group Information

• Website http//www.nd.edu/dpark/c308/
• Group Members
• Brian Wawok
• Dennis Park
• Jason Stutzman
• Michaele Barts

3
Introduction

• 2.3 Billion dollar estate of billionaire oil
  mogul Chester Greengage
• Martha Stockton Greengage Foundation to provide
  low cost loans to young couples

4
Responsibilities of Project Members

• Brian Team Lead, Chief Programmer, Documentation
• Dennis Programmer, Database, Website,
  Documentation
• Jason Programmer, Documentation, Master
  Documentation
• Michaele Programmer, Documentation, UML

5
Software Functions

• Manage loan application determine loan
  application is granted.
• Is there sufficient money from the Foundation?
• Does applicant meet financial requirement?
• Manage the loans
• Open account
• Print monthly statement
• Previous balance
• Last payment including amounts for P and I
  (Principal and Interest)
• New balance
• Due date and amount For next payment
• Update account
• Balance when payment made
• Payment
• If not received on or prior to date dueflag
  loan!
• Close loan
• When loan is paid off -or-
• House is sold

6
Manage Company Software (Flow Chart)
7
Case Diagram
8
Loan Math

• Monthly payment is calculated by formula
• P Principal, I Monthly Interest Rate (ie 5.9
  APR / 1200), L Loan Term (years 12), M
  Monthly Payment
• M ( I ( I / ( ( 1 I ) L ) 1 ) ) P
• Meets 28 or less requirement formula
• M Monthly Payment, I1 Primary Income, I2
  Secondary Income, A Total available for monthly
  Payment, T Taxes, I Insurance
• A ( I1 I2 ) .28 T I

9
Software

• Sun Java
• JRE 1.6
• SDK 1.6
• SWING
• Microsoft Office Access 2007

10
Hardware

• A Laptop

11
Project Schedule

• The group meets every Thursday after class to
  discuss progress of system design and otherwise
  as required
• September 20 (Thursday) Proposal due
• October 16 (Tuesday) SRS due.
• November 13 (Tuesday) SDS due.
• December 13 (Thursday), 655pm Product demo