Temenos Lifecycle Management Suite - Loan Origination Product Guide
Stipulations Panel

The Stipulations panel allows users to view and maintain the conditions required to approve and/or disburse an application.

The stipulations panel displays any stipulations added through the Approve Loan screen.

The Stipulations panel contains a grid that displays all stipulations. Each stipulation is a table row that displays the associated details in the following columns:

Column Description
Stipulation

Displays the name of the condition that must be met before the application can be approved or disbursed.

The possible stipulations that populate in this field are defined within the STIPULATION_CODE field lookup.
Required For

Indicates the application process which the stipulations must be met prior to executing.

 

There are three types of stipulations that can be added in the Loan Origination module:

  • Approval – These stipulations must be met before an application can be approved.
  • Disbursement – These stipulations must be met before an application can be disbursed.
  • Documents – These stipulations must be met before an application's documents can be generated.
Other Description Displays the associated comment, if an "Other" stipulation was selected.
Added By Displays the name of the user who added the stipulation.
Met Displays a check box that indicates whether a stipulation has been met. Select the check box to indicate the condition has been met by the applicant.
Waived Displays a check box that indicates whether a stipulation has been waived. Select the check box to indicate the condition has been waived by the institution.
Comments Displays any user comments for a stipulation. Select the row and click the comments field to add a comment to a stipulation.
Date Fulfilled Displays the date the stipulation was met.
Fulfilled By Displays the name of the user who met or waived the stipulation.
Security Groups

Displays the number of security groups that can fulfill a stipulation. If the number is 0 (zero), all security groups can fulfill this stipulation. If a number > 0 populates, only the specified security group may fulfill the stipulation.

If a user belongs to a security group that can fulfill a stipulation, it populates in the "Items you can complete" section. Otherwise, it populates in the "Items you cannot complete" section.
Documents Displays  to allow documents to be attached to the stipulation if the STIPULATION_CODE field lookup has a 'Y' value in the Requires Document column. The numerical value displayed next to the Attach button signifies the number of documents currently attached to the stipulation.
Applies To Indicates whether the stipulation applies to the approval, document generation, or disbursement of a loan application.

In addition to displaying stipulations, users are able to perform the following actions within the Stipulations panel:

Icon Description
Allows a user to add a stipulation to the application. When a stipulation is added, a row is added to the Stipulation grid.
Allows a user to simultaneously add multiple stipulations to an application.
Allows a user to edit an existing application stipulation.
Allows a user to remove a stipulation from the application. When a stipulation is deleted, a row is removed from the Stipulation grid.
When a stipulation is added to an application, a To Do is also added to the application. Once the stipulations are met or waived, the To Do is removed from the application.

Adding a Stipulations

Stipulations may be added to an application automatically via rules or manually within the Stipulations panel.

Automatic

System administrators have the ability to author rules within the Stipulation category that determine the stipulations which are automatically added to an application, if the defined conditions are met. Once defined, these rules are assigned to applicable sub-products.

Stipulation rules execute when the Process Stipulation Rules action is triggered by a corresponding event. All stipulation rules assigned to the application type execute as Event Processing does not allow selection of specific stipulation rules.

If an automated stipulation has already been waived or met, it is not removed when the action is triggered

 For more information on stipulations assigned by rules, please see the Rules Management section.

Manual

Add a stipulation by clicking the Add button within the Stipulations panel. A new row is created in the Stipulations grid. Clicking within the Stipulation column populates the stipulation drop-down list. Select the desired stipulation.

To enter a user-defined stipulation, select the “Other” stipulation. When Other is selected, the Other Description column must also be completed.

After the stipulation is selected, click the Required For column to indicate whether the stipulation must be met or cleared prior to the application’s approval or disbursement.

Users may assign a stipulation to one or more security groups, thus enabling only the users in the specified group to take action on the stipulation.
Stipulations can be automatically assigned to security groups by using rules. For more information on assigning stipulations to security groups, please see the related How To Guide.

Finalize the addition of the stipulation by saving the screen.

A value for Required For and Applies to must be specified for each stipulation. If a stipulation does not contain a value for the Required For or Applies To field, a Validation error is received upon saving the screen that includes the Stipulation Panel.

Adding Multiple Stipulations

To add multiple situations at once, click . The Add Multiple Stipulations pop-up window appears. The Applies To drop-down in the top of the window identifies whether the stipulations are being applied to the approval or disbursement of a loan application. This drop-down defaults to the type of application in progress, such as Loan.

The Applies To drop-down in the top of the window identifies whether the stipulations are being applied to the approval or disbursement of a loan application. This drop-down defaults to the type of application in progress, such as Loan.

Select the check boxes that correspond with the desired stipulations to add them to the application. To select all stipulations, click the check box in the top of the Add Multiple Stipulations grid.

Users are unable to simultaneously add multiple stipulations and assign security groups. Once multiple stipulations have been assigned, users must manually edit the security group for each condition.

Once all the desired stipulations have been selected, click OK. The selected stipulations populate in the Stipulations panel.

Editing Stipulations

Editing stipulations allows users to modify details of a stipulation. To edit a stipulation, select the stipulation from the list and click Edit.

Update the desired fields and assign the appropriate security groups.

If the editing user assigns security groups and does not belong to one of the security groups being assigned, he or she is unable to update the stipulation after clicking OK.

Once all fields have been updated, click OK to retain the changes. The window closes and the changes reflect in the Stipulations table.

Deleting Stipulations

Select the stipulation that is to be removed and click Delete.

Clearing Stipulations

When completing an application’s underwriting review process, users are able to clear outstanding stipulations by selecting the Met or Waived check boxes.

Users can only meet and waive stipulations that appear in the "Items you can complete" section.

When stipulations are Met, the Date Fulfilled and Fulfilled By columns are automatically populated with the information of the user that cleared the stipulation. Enter any supporting information in the Comments column.

Finalize clearing a stipulation by saving the screen.

Adding Documents to a Stipulation

If documents are required to clear a stipulation, a  is displayed in the documents column. Clicking  displays a Stipulation Documents window that allows a user to browse their local or network drive to attach supporting documents to the current stipulation. Users can also view or delete existing documents from the list displayed in the Stipulation Documents window.

ShowAttach a Document

From the Stipulation Documents window, add a new document by clicking .

ShowView Document

To view a document:

ShowDelete Document

To delete a document:

Documents attached to a stipulation are also included in the Application Documents list that can be accessed by clicking  in the Application Workspace toolbar. If the stipulation is deleted, the document remains in the application documents list.

 

 


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