Close a loan

Normal closure is an outcome of authoritative balances, not an operator preference. When all obligations reach zero and no blocker remains, the loan reads as closed with obligations met. The governed close command exists for explicit finalization of eligible edge cases.

On screen. Close, in the Administrative column of the loan actions menu.

Finalizing a zero-obligation loan

CommandPOST /v1/loans/{loanId}/transactions?command=close

Case contextRequired on human calls

ApprovalMaker-checker can park it

Ledger effectA dated closure transaction

UndoNone — reopened by the facts changing underneath

Closure is an outcome, not a preference

1. Obligations reach zerobalances, credits, cash in flightwaits
2. Rules checkedblocking condition named on failureautomatic
3. Closure postswith its effective dateautomatic
4. Reopen on returna new recorded transitionwaits

Closure checklist

Rule	Required state
Principal, interest, fees, penalties	Zero or disposed by explicit preceding actions.
Credit balance	Zero or refunded through creditBalanceRefund with its funding settled.
Payments and funding in flight	None whose outcome could reopen a balance.
Reconciliation	No critical unresolved exception.
Schedule	All obligations met or superseded under a valid terminal action.
Autopay	Cancelled/no future targets.
Restrictions and cases	Closure permitted; required work completed or linked.

The command never closes optimistically

curl -X POST "$BASE/v1/loans/7204/transactions?command=close" \
  -H "Authorization: Bearer $TOKEN" \
  -H "LendEasy-Tenant: demo-lender" \
  -H "LendEasy-Case: case_HBR_PAYOFF_6" \
  -H "Content-Type: application/json" \
  -H "Idempotency-Key: hbr-close-2028-02-20" \
  -d '{
    "transactionDate": "2028-02-20",
    "note": "Payoff and credit refund reconciled.",
    "dateFormat": "yyyy-MM-dd",
    "locale": "en"
  }'

{
  "officeId": 1,
  "clientId": 412,
  "loanId": 7204,
  "resourceId": 30471,
  "changes": {
    "transactionDate": "2028-02-20"
  }
}

If Harbor still has a $63.20 credit refund processing, the command is rejected with the blocking condition named—check the loan summary’s credit, in-flight payment amount, and open fundings before executing. Every execution writes a governance record.

Rescheduled loans

A rescheduled loan closes against its current authoritative schedule; the history preserves both the original and rescheduled periods.

Other terminal outcomes

Use write-off, charge-off, or contract termination for their specific economic meanings. The close command rejects a nonzero balance even if the note supplies one of those reason words.

Closed is readable, not archived

The closed loan keeps its final schedule and transaction history intact, and read APIs remain available under retention and access policy. Statement and payoff reads reflect the closed state.

Reopen after return or correction

If a covering payment later returns through the provider flow or a financial transaction is reversed, the ledger can reopen the loan under product rules, linked to the triggering event. It does not erase the closure period.

Closure has no undo command

A closure that should not have happened is corrected by posting the governed action that changes the facts underneath it — the return, reversal, or adjustment the case calls for — which is also what reopens the loan. The closure transaction and its governance record stay in history either way.