simrealist

PROGRESS UPDATE: Financial Center 0.2.0.0 - PT 1

Added 2020-12-23 00:54:46 +0000 UTC

So far, this upcoming Credit update to the Financial Center is progressing well! We had to nix adding in a Mortgage this go-around since we wanted to get the credit process's foundation right and we wanted to have a detailed foreclosure experience. We should add that in next year. This upcoming update will add unsecured loans and a simple risk assessment for both the customer and the bank by looking at the Household's debt-to-income, so you don't overextend your Sim financially.

Unsecured Loans are loans that are not secured by anything (real estate, a bank account, etc.), resulting in higher rates and limited loan amounts. In comparison, mortgages are secured by the applicants' personal residence, which the Bank can take if the borrower should default or is unable to pay the loan.

The above sneak peek of our progress highlights the new application for a loan screen where you can choose between in-house loans (SNB loans) or Scarlet & LittleMsSam's loan options. From there, you will be asked how much you want the loan for, and the mod will check how much debit a Sim has to pay each week to how much income they make. If it is within SNBank policy, they will be offered the amount they request, something higher, or something lower depending on their financial situation. They can also be denied a loan if they have too much debt. Future updates will also include a credit score system as a reason for loan denials.

Expect this update next month!