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During the application process, users are able to input the terms of the loan. These terms are used to determine the loan calculations and payback information. Users are also able to input information used by the institution such as loan tracking and HMDA information.

Depending on the configuration of screens and workflow models, this process can vary. Institutions may employ multiple application screens to capture loan terms for each loan sub-product. A screen that captures basic loan term information may be assigned to the Workflow, while a more thorough screen may be assigned to the Screens section.

Loan Terms Information

The screen used to capture loan terms is a user-defined Application screen that enables users to collect loan term information. The following list encompasses the panels or logical field groupings that may be configured at an institution:

• General Calculations
  • Solve For
  • Save and Calculate
  • Calculate Preview
• Loan Terms Breakdown
• Repayment Information
• Dates
• Add-On Refinance
• Interest Rates
• Introductory Rates
• Variable Rates
• Debt Protection
• Fees
• Loan Tracking
• HMDA
• Credit Card Information

The fields that pertain to the above loan terms can be collected in various application panels. These panels can be assigned to one or across multiple user-defined screens. Refer to the Screens section of the Administrator Guide for more information on configuring loan terms screens and panels.

General Calculations

Depending on the configuration of the loan terms screen, a user-defined general calculations panel may be configured to capture the basic loan calculation information.

Basic loan term fields, such as Requested Amount, Term, Payment Frequency, and Payment Amount, allow users to input the applicant’s desired loan terms or build scenarios. To assist users in building loan term scenarios, the Solve For field is configurable to the loan term screen. If configured, the Solve For field enables users to input applicant’s desired loan terms and solve for the Payment, Term, and Requested Amount. This enables users to input known values and solve for desired customer terms.

Also included in basic calculations is the ability to indicate Loan Type and Payment Type. Other configurable loan term fields that may affect loan calculations are Doc Stamp Program, Doc Stamp Rate, and Doc Stamp Amount.

If the Sub-Product has a Payment Type of Balloon, the Balloon Amount, Balloon Term, Billing Percentage Rate, and Minimum Payment Amount fields require a value entered. These fields would need to be configured on the user-defined screen.

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Solve For

When performing Solve For calculations, Payment Types limit Solve For calculations in the following way:

If Payment Type is:	Can Solve For:
Level Pay	Payment, Term, and Requested Amount
Interest Only	Payment
Principal and Interest	Payment and Term
Balloon	If Open End Loan and Real Estate Type is Home Equity: Balloon Amount and Payment & Balloon Amount Else If Balloon Payment Type = CALCULATED o   Payment & Balloon Amount Else Payment, Balloon Amount, and Payment & Balloon Amount
Billing Percentage	Payment

When performing Repayment Solve For calculations, Repayment Payment Types limit Solve For calculations in the following way:

If Repayment Type is:	Can Solve For:
Level Pay	Payment
Interest Only	Payment
Principal & Interest	Payment and Term
Balloon	Balloon Amount and Payment & Balloon Amount

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Additionally, the Loan Terms/Application screen is able to be configured with buttons such as:

• Save & Calculate
• Calculate Preview

Save & Calculate Button

If configured to the application screen, the Save & Calculate button enables users to update the calculated values within the screen it is assigned to. The Save & Calculate button allows users to quote and re-quote loan figures to applicants without leaving the application workspace. In addition to calculating screen values, clicking the Save & Calculate button performs a save and refreshes the screen.

When the Save & Calculate button is clicked, numerous fields may be set by the calculator; however, not all fields are set each time the calculation is executed. Some fields are only set based upon the attributes of the loan application (IsIntroRate, IsHELOC, and so on).

The following is a list of fields that may be input into or set by the calculator:

• Balloon Amount
• Balloon Number of Payments
• Balloon Term
• Base Loan Amount
• Debt Cancellation Premium
• Debt Protection Monthly Payment Amount
• Debt Protection Payment Amount
• Debt Protection Total Amount
• Disability Insurance Premium
• Disclosure APR
• Doc Stamps Amount
• Doc Stamps Rate
• Face Amount
• Final Loan Amount
• Final Payment Amount
• First Due Date
• Initial Loan Amount
• Interest Rate Assigned
• Intro Monthly Payment Amount
• Intro Payment Amount
• Life Insurance Premium
• Loan Proceeds
• Maturity Date
• Military APR
• Military APR Total Fees
• Minimum Payment Amount
• Monthly Payment Amount
• Original Term
• Payment Amount
• Payment Amount High
• Payment Amount Low
• Principal Payment Amount
• Risk Tier Average Id
• Risk Tier High Id
• Risk Tier Low Id
• Term
• Total Cross Sell In Loan Amount
• Total Down Payment
• Total Fees In Loan Amount
• Total Finance Charge
• Total Interest
• Total Payoff Amount
• Total Rebate
• Total Repaid
• Total Trade In Payoff Amount
• Variable Payment Fixed Amount
• Repayment Balloon Payment Value
• Repayment Balloon Term
• Repayment Payment Amount
• Repayment Period Term
• Repayment Principal Payment Amount
• Maximum Payment Amount

In addition to the aforementioned fields, Aggregates and Ratios as well as the Loan Terms Breakdown and Debt Protection panels update when the application is calculated.

When performing calculations, the Lifecycle Management Suite validates the term of the loan entered against the payment frequency. If the term entered for the loan application compared to the payment frequency is not a whole number, the module rounds the term and displays a warning message to the output that the Term was changed. For example, a loan officer enters the Term as 14 and Payment Frequency as annual. With a Payment Frequency of annual, the term should be a full year, which means that the term must be 12, 24, 36 and so on.

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Calculate Preview Button

The Calculate Preview button enables users to view the Loan Terms Breakdown, Loan Terms/Draw Period, Details, Repayment Period, Debt Protection Summary, and Amortization Schedule based on the current loan term values.

The Calculate Preview screen contains a toolbar that allows users to perform the following functions:

Icon	Description
	Closes the Calculate Preview screen.
	Allows a user to select the result displayed in the Calculate Preview screen for the loan terms. Users are able to have multiple Calculate Preview windows open to compare scenarios. Once the applicant chooses the desired calculation/scenario, the user selects the Use Results button. Selecting Use Results closes all other open Calculate Preview windows. It also updates the calculation values to reflect the chosen scenario.
	Allows a user to print the Calculate Preview to a local or network printer.

 

Loan Terms Breakdown

Loan Terms/Draw Period

Details

Aggregates

Ratios

Repayment Period

Debt Protection

Amortization Schedule

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Loan Terms Breakdown

Depending on the configuration of the application screen, users may be able to view the loan term breakdown within the application workspace. This panel displays the calculations and values that factor into the loan amounts.

Loan Terms Breakdown is a read-only panel that displays an itemized breakdown of the Total Repaid loan amount that includes the following values:

Module Field	Associated CUDL Field	Associated DealerTrack Field	Associated RouteOne Field	Operator	Description
Loan Proceeds	Sales Price	Cash Price	Cash Selling Price	N/A	The beginning loan amount, prior to any deductions or additions.
Down Payment Amount	Cash Down	Cash Down	Cash Down	-	The amount that the loan applicant provided towards the purchase price of the item being financed via the loan.
Trade-in Net Allowance	Trade Allowance	Net difference between: Trade Allowance and Trade Owed	Net Trade	-	This amount represents the amount that the loan applicant received for trading in a vehicle, less any remaining balance owed on the vehicle.
Rebate Amount	Rebate	Rebate	Rebate	-	This amount represents the total incentive provided by the vendors towards the purchase.
Add-On Limit/Refinance Balance	Not Mapped	Not Mapped	Not Mapped	+	In the case of a refinanced loan, this amount represents the amount of the existing loan that is being refinanced and bundled into the new loan being created. In the case of an Add-On Limit, this amount represents the existing credit limit of the liability selected for increase.
Fees In Loan Amount	• Credit Disability • GAP • Credit Life • Service Contract • Theft Deterrent • Additional Items • Sales Tax • Environmental Package	• Taxes • Doc Fees • Title License Reg Fees • GAP • Service Contract • Credit Life • Disability • Other	• Sales Tax • T&L Estimate • Front-end Fees • Accident/Health Ins • Credit Life Ins • GAP • Warranty • Back-end Fees	+	Fees in Loan Amount represents any costs to the loan applicant that are being included in the financing of the loan and are not being indicated as a finance charge. This amount is edited in the Fees panel.
Doc Stamps	Not Mapped	Not Mapped	Not Mapped	+	In the state of Florida, there is a tax associated with the transfer of real estate or the execution of documents, such as loan notes. This tax can be financed in a loan, if the applicant chooses. If the Doc Stamp Program is configured with a non-numeric value, the Loan Origination module handles the value as a 0 when calculating.
Initial Loan Amount	Amount Requested	Financed Amount	Estimated Amount Financed	=	This amount represents the initial loan amount, after all down payments, rebates and trade in amounts have been deducted and all fees, taxes, and refinance amounts have been added.
Cross-sell Amount	Not Mapped	Not Mapped	Not Mapped	+	The total amount of any additional non-loan products that were presented to and accepted by the loan applicant on the Cross-Sells screen. Examples are GAP or MBD Protection. This amount is edited on the Cross-sells Screen.
Adjusted Loan Proceeds	Not Mapped	Not Mapped	Not Mapped	=	This amount represents the loan amount after all down payments, rebates and total trade-in new allowances have been deducted and all cross-sells with the following properties have been added: IsMilitaryAPR = False Include in Loan Amount = True Response = Yes or Yes Referred
Final Loan Amount	Amount Requested	Financed Amount	Estimated Amount Financed	=	This amount represents the initial loan amount, along with any cross sell amounts and debt protection premiums. It is the actual amount of the loan that is being borrowed by the loan applicant.
Finance Charge Fees	Not Mapped	Not Mapped	Not Mapped	-	This amount represents any prepaid finance charge fees.
Amount Financed	Amount Requested	Financed Amount	Estimated Amount Financed	=	This number represents the total amount financed by the loan applicant. This amount is the total amount that interest is calculated and charged on.
Debt Protection Premium	Not Mapped	Not Mapped	Not Mapped	+	This number represents the cost to the loan applicant for insurance that ensures that payments are made for a specific period of time against the loan in the case that an unforeseen circumstance occurs to the applicant and they are unable to make the payments.
Total Interest	Not Mapped (calculated by module)	Not Mapped (calculated by module)	Not Mapped (calculated by module)	+	This number represents the cost to the loan applicant for insurance that ensures that payments are made for a specific period of time against the loan in the case that an unforeseen circumstance occurs to the applicant and they are unable to make the payments.
Finance Charge Fees	Not Mapped	Not Mapped	Not Mapped	+	This amount represents any prepaid finance charge fees.
Total Repaid	Not Mapped (calculated by module)	Not Mapped (calculated by module)	Not Mapped (calculated by module)	=	The Total Interest represents the total cost of the loan.

As changes are made to the loan application, the corresponding values are updated by clicking Calculate or Save & Calculate.

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Repayment Information

Depending on the configuration of the application screen, users may be able to collect repayment information while processing loan terms.

Collecting repayment information allows users to record Payment Methods and the corresponding fields such as Account Number, Account Type, Routing Number, and Primary Owner Name. If ACH or Automatic Transfer is selected, the Loan Origination module configures these selections in the core.

Additionally, Variable Payment information may be collected. These fields allow users to work with applicants and establish payment preferences for Variable payment loan products.

The variable payment fields have additional editability checks beyond a field editability check. In addition to editability, the following validations occur:

Field Name	Editability Check
Variable Payment Date Type	Can only be edited if the Payment Method is ACH or Auto Transfer.
Variable Payment Days	Can only be edited if Variable Payment Date Type is Past Cycle or Prior Due Date.
Variable Payment Type	Can only be edited if the Payment Method is ACH or Auto Transfer.
Variable Payment Day of Month	Can only be set if Variable Payment Date Type is specific day.
Is Override Fixed Amount	Can only be set if Variable Payment Type is Fixed Amount.
Variable Payment Fixed Amount	Can only be set if Is Override Fixed Amount is set to true.

When inputting repayment information, the Loan Origination module is hard-coded with the following field validations that are required for disbursement:

Payment Method	Validation Check
Auto Transfer or ACH	FI Account Number is required.
ACH	ACH Routing Number is required.
ACH	ACH Account Number is required.
ACH	ACH Primary Owner Name is required.
ACH	ACH Account Type ID is required.
Auto Transfer or ACH	Variable Payment Date Type Id is required.
Auto Transfer or ACH and Variable Payment Type Id is FIXED_AMT	Variable Payment Fixed Amount is required.
If Payment Method is Auto Transfer or ACH and Variable Payment Type Id is FIXED_AMT	Variable Payment Fixed Amount must be >= Payment Amount.
If Payment Method is Auto Transfer or ACH and Variable Payment Type Id is DAYS_PAST_CYCLE or DAYS_PRIOR_DUE_DATE	Variable Payment Days is required.
If Payment Method is Auto Transfer or ACH and Variable Payment Type Id is SPECIFIC_DAY	Variable Payment Day Of Month is required.

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Dates

Depending on the configuration of the application screen, users may be able to collect dates associated with the loan application while processing loan terms.

 

Collecting dates allows users to indicate important loan dates such as Disbursed Date, First Due Date, Right of Rescission Date, Closing Date, and Billing Cycle.

Dates such as First Notification Date, Second Notification Date, and Expiration Date are used by the Automatic Withdraw process, which allow the Loan Origination module to withdraw applications which have not been Disbursed or Withdrawn. These fields indicate the dates when the module sends warning emails to the applicants and automatically withdraws applications. For more information on Automatic Withdraw, refer to the Automatic Withdraw topic.

When inputting dates, users are able to click anywhere in the field to prompt a calendar. Use the calendar to select the desired date. Once a date is selected, the calendar closes and the date populates in the field.

In addition to selecting the date from the calendar, users are able to input dates by entering the shortcuts such as:

Beginning of the Month

Details	Format	Examples
Plus or Minus Days Plus Beginning of Month	+/- D + BOM	+5D+BOM -7D+BOM
Plus or Minus Months Plus Beginning of Month	+/-M + BOM	+1M+BOM -2M+BOM
Plus or Minus Years Plus Beginning of Month	+/-Y + BOM	+1Y+BOM -2Y+BOM

End of the Month

Details	Format	Examples
Plus or Minus Days Plus End of Month	+/- D + EOM	+5D+EOM -7D+EOM
Plus or Minus Months Plus End of Month	+/-M + EOM	+1M+EOM -2M+EOM
Plus or Minus Years Plus End of Month	+/-Y + EOM	+1Y+EOM -2Y+EOM

When inputting dates, the Loan Origination module is hard-coded with the following field validations that are required for disbursement:

• First Due Date is required
• First Due Date must be greater than Disbursement Date
• Closing Date is required
• Billing Cycle is required, if set on Loan Product Definition
• Disbursement Date is required

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Add-On/Refinance Panel

While entering an application's loan terms, users may be able to determine if the application is an Add-On or Refinance loan.

Within the Add-On/Refinance panel, users are presented with a grid of liabilities that are eligible to be added onto or refinanced.

Loan Type	Description
Add-On	Allows the limit of an existing core liability to be increased. Add-on loans update the existing liability and do not create a new loan record. Only internal liabilities with the ECOA Codes "I," "J," "S," "NA," "U," and “M” are eligible for add-on transactions. When creating an Add-On application, ensure that all correct parties are added to the application prior to proceeding with an Add-On application for a Liability with an ECOA Code of M.
Refinance	Creates a new core liability to pay off an existing liability. By default, only internal liabilities are eligible for refinance. However, external liabilities may be enabled through configurations made within the Solution.Origination page in System Management. Refinance Applications are not restricted by ECOA code.

Liability Information and Organization

The Add-On/Refinance panel displays the liability data within the following columns:

Column/Field	Description
Account #	Indicates a liability's account number. When the Trade Category for a Liability is Credit Card or Department Store, all but the last four digits of the credit card account number appear masked within the Account # field to be in compliance with the PCI regulations that require credit card numbers to be masked and not displayed in clear text on a screen. While this functionality cannot be disabled, the  icon that appears in the Account # field does provide the ability to temporarily unmask the value of the credit card number by hovering over the icon. Navigating away from the icon once again masks the credit card account number.
Product Code	Indicates the category of an external liability.
Creditor	Indicates the creditor holding an external liability.
Applicant	Indicates which applicant is the owner of the liability according to the Equal Credit Opportunity Act code indicated on the credit report.
Balance	Indicates a liability's remaining balance.
Payment	Indicates a liability's payment amount.
Limit	Indicates the limit of a liability if open-ended.
Last Payment Date	Indicates the date the last payment was processed.
Maturity Date	Indicates the maturity date of a closed-end liability.
Payoff Amount	Indicates a liability's payoff amount.

The liabilities that populate within the Add-On/Refinance panel's rows are sorted into two collapsible headings:

• External Liabilities - The external liabilities section displays all non-core liabilities with a balance greater than $0.00. 
• Internal Liabilities - The internal liabilities section displays all eligible core liabilities.

Processing Add-On and Refinance Transactions

To process an add-on or refinance application:

• Select the panel check box to activate the Add-On/Refinance grid.
• Select the check box that indicates if the application is an Add-On or a Refinance.
• Select the desired loan for Add-On/Refinance loans.

  Selecting the desired liability updates the Total Payoff Amount Included in the Loan Amount field with the corresponding liability value.

• If the liability's payoff amount differs from what is quoted in the grid, users are able to edit the Payoff Amount field. 

Add-On and Refinance Behavior

• When an external liability is selected for refinance, the Adjustment Percentage in the Liabilities screen is set to 0 so it is excluded from Aggregates and Ratios.
• If a liability is selected to be refinanced, its corresponding entry in the Liabilities screen is flagged as Refi.
• If a liability is selected for add-on refinance, it is removed from the replacement cross-sell processing.

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Interest Rates

Depending on the configuration of the application screen, users may be able to view rate information, such as the calculated Interest Rate and APR while processing loan terms.

Interest rate fields are populated by Pricing, which runs during the Calculate and Decision processes.

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Introductory Rates

Depending on the configuration of the application screen, users may be able to view or input introductory rate information associated with the loan application while processing loan terms.

Introductory rate information allows users to indicate important discounted rate information such as Introductory Rate, Number of Payments for introductory term, Payment Amount during introductory term, Regular Payment Start Date, and Introductory Term.

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Variable Rates

Depending on the configuration of the application screen, users may be able to view or input variable rate information associated with the loan application while processing loan terms.

Introductory rate information allows users to indicate important rate change information such as First Rate Change Date, Maximum Increase/Decrease for Loan, Maximum Rate Increase/Decrease per Change, Rate Change Frequency, Rate Margin, and Maximum Payment Amount.

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Debt Protection Plan

The Debt Protection panel enables users to quote debt protection coverage while processing loan terms.

Debt Protection Panel Attributes

The Debt Protection panel contains the following fields, which are conditionally required:

Field	Description
Insured Primary	Indicates the individual who is primary on the debt protection plan. Use the drop down list to select the primary applicant, in order to generate debt protection plans.
Insured Joint	Indicates the individual who is joint on the debt protection plan. Use the drop down list to select the joint applicant who is to be added to debt protection plans.
Decline Reason	Use the drop down list to select the decline reason if debt protection is being declined.
Other	If "other" is selected as a decline reason, users must enter the reason debt protection is declined
Has Credit Life	If an application is an Add-On, users must indicate if the existing liability has Credit Life protection. Selecting Yes overrides debt protection age eligibility validations. If an applicant exceeds the age eligibility for a plan, users are not prevented from adding Credit Life protection to cover the increased liability. Selecting No enforces debt protection age eligibility validations. If an applicant exceeds the age eligibility for a plan, validations prevent the user from adding Credit Life protection to cover the increased liability. This field is only enabled for Add-On loans.
Has Credit Disability	If an application is an Add-On, users must indicate if the existing liability has Credit Disability protection. Selecting Yes overrides debt protection age eligibility validations. If an applicant exceeds the age eligibility for a plan, users are not prevented from adding Credit Disability protection to cover the increased liability. Selecting No enforces debt protection age eligibility validations. If an applicant exceeds the age eligibility for a plan, validations prevent the user from adding Credit Disability protection to cover the increased liability. This field is only enabled for Add-On loans.

Beneath the aforementioned fields, the protection plan response grid displays a row for each protection plan generated.

The associated plan costs populate within the columns. If any pertinent plan-related information exists, the Messages column populates with an information icon. Click the icon to display the plan messages. The Message that is displayed is informational and only applies when solving for term or when solving using a billing percentage loan.

Generating Debt Protection Plans

When generating debt protection quotes, the debt protection panel is initially empty.

• Select the Primary Applicant from the Insured Primary drop down.
• If processing a joint application, select the Joint Applicant from the Insured Joint drop down to generate a joint debt protection quote.
• If processing an Add-On applications, identify if the existing liability Has Credit Lie and Has Credit Disability.

  Failure to select a value results in the following calculation error while saving:

• Click  to generate debt protection quotes.

• Once the Generate Plans button is clicked, the Debt Protection grid populates with the available debt protection plans and their costs.

• Select the check box that corresponds with the desired plan to opt in. 

Declining Protection Plans

If the applicant does not desire debt protection coverage:

• Select the Decline Reason from the corresponding drop down.
• Select None within the Debt Protection grid.    

Plan Reconsideration

If an applicant desires to change their debt protection selection:

• Re-select the check box that corresponds with the desired plan.
• Click Save & Calculate to update the loan calculations.

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Fees Panel

If the Fees panel is configured to appear on the Application screen, users may be able to add and remove associated fees while processing loan terms.

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Loan Tracking

Depending on the configuration of the application screen, users may be able to collect loan tracking information while processing loan terms.

Collecting loan tracking information allows users to record information for tracking purposes in the corresponding fields such as Originating Branch, Closing Branch, and Purpose Code.

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HMDA Panel

Depending on the configuration of the application screen, users may be able to collect information for Home Mortgages Disclosure Act (HMDA) compliance while processing loan terms.

Collecting loan tracking information allows users to record information for HMDA tracking purposes in the corresponding fields such as Applicant/Joint Ethnicity, Applicant/Joint Gender, Applicant/Joint Race, Loan Purpose, Loan Type, and Denial Reason.

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Credit Cards

Depending on the configuration of the application screen, users may be able to collect credit card information while processing loan terms.

Credit card information able to be captured includes: Credit Card Number, Issue Date, Type, Overdraft Fee Option, Over Credit Limit Option, and Promotion Type.

When inputting credit card information, certain fields such as Credit Card Number, Export Date, and Issue Date are populated by the credit card processor.

There are several important fields that are required for credit card applications, such as Credit Card Type and Card Design Type. Click the Credit Card Type field and choose the desired credit card type from the drop-down. Click the Card Design Type field and choose the desired credit card design from the drop-down.

Field values such as UDAP Overdraft Fee, Over Credit Maximum Fee, and Credit Card Promotion Type may also be required. If required, use the corresponding field drop down lists to select the appropriate values.

Joint Credit Cards

By default, only the primary applicant receives a credit card. If joint applicants exist on the application, select the Joint Receives Credit Card check box to indicate that the joint applicants are to receive cards.

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