Temenos Lifecycle Management Suite - Loan Origination Product Guide
Disburse
| End-User Guide > Application Processing > Post-Decision > Approval > Disburse |
The disbursement function allows users to disburse an approved loan application to core and/or third party integration. The disbursement process may be a live process or a nightly batch disbursement process.
This topic includes the following information:
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While an application's disbursement is processing, an application is locked and users are prevented from making changes until the disbursement completes.
Refresh or re-open the workspace after the application has been disbursed to enable editing of the application. |
Applications may be disbursed manually by Loan Origination module end users or automatically by administrative configurations made with Event Processing.
Loan Origination module users with the appropriate permissions are able to able to disburse an application, once an application is approved. Users are able to manually disburse an application from the:
Once an application is in a disbursable state, users may select the Disburse button within the application toolbar.
When the Disburse button is clicked, the Disbursement process initiates.
When a user navigates to the final screen assigned to a Workflow’s Approval category, the Disburse button appears in the screen’s toolbar.
When the Disburse button is clicked, the Disbursement process initiates.
Applications may also be automatically disbursed by Event Processing, based on the following application conditions:
Application Type IsLoanReadyForDisbursement Disburse? Loan True Loan Loan False None
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If the application is locked by a system user:
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In the event of validation errors, To-dos or other system errors, the automated disbursement does not complete. The application remains in an Auto Approved or Loan Officer Approved status. Additionally if a user bypasses warnings on the approval, the warnings are also bypassed during the automatic disbursement. |
During the disbursement process, a notification stating "application is being automatically disbursed by the module" is added to the application. Once the application disburses, this notification is removed and queuing rules execute.
Once an application is ready to be disbursed, click 
. Once clicked, the Disburse Application pop-up window appears. Select the Accept Terms check box and click Disburse. To return to the application without disbursing, click Cancel.
Upon clicking Disburse, the disbursement process begins. During the disbursement process, the following occurs:
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If the application does not pass the loan Validations or Validation Rules, the disbursement process stops and errors generate. Once the validations are cleared, click . |
After the disbursement process completes, a Success message appears.
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If the Actual Interest Rate is set manually, the value entered may potentially be updated when Pricing Rules run at Disbursement. This may cause the Actual Interest Rate on the documents to differ from the Actual Interest Rate disbursed to the core. To avoid this potential issue, a Pricing Rule can be authored using the "Do Not Update Actual Rate" template which prevents the Actual Interest Rate from updating if set manually. Once authored, this rule must be assigned to each Pricing Model. |
Upon a successful loan disbursement, the following fields are set in an Application screen for the loan:
Once Is Loan is Disbursed is set to true, the overall application is able to disburse and the following fields are set for the application:
When configured to appear in an Application screen, the Disbursement Summary panel contains a table that lists the disbursement status of the loan product as well as the date the loan was disbursed.
The grid within this panel indicates the following information for the loan product application:
| Column | Description |
| Status |
Indicates the disbursement status of the loan product. The value that populates in this column is derived from the APPLICATION_STATUS field look up and include values such as: In Progress, Decisioned, and Disbursed. |
| Date |
The date column indicates the date and time the loan product was disbursed. |
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For information on Batch Disbursement, refer to the Batch Disbursement topic within the Administrator Guide. |
For an application to be disbursed, it must be in a disbursable state. The following system-defined validations may prevent an application from being disbursed:
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Validations do not make the Disburse button unavailable in the toolbar. |
| Validations | ||
| Loan Account Number is required if Core doesn't support generating loan account numbers. | ||
| If an account number for a loan is required and not present, disbursement cannot continue. | ||
| If the Eligibility Required field within the Solution.Origination page is set to Yes and the Primary applicant value for IsEligible is false, then disbursement cannot continue and an error message stating the following is received: "The primary applicant is not eligible." | ||
| Stipulations required for disbursement must be met or waived. | ||
| Final loan amount must be within sub-product limits. | ||
| DisbursementDate is required. | ||
| If pledge collateral, pledged asset must be on the Core. | ||
| If pledge collateral, AvailableBalance of pledged asset must be >= PledgeAmount. | ||
| Vendor, if set, must be active. | ||
| Vendor Channel, if set, must be active. | ||
| Vendor, if set, must have a VendorCode. | ||
| If AutoTransfer/ACH, FIAccountNumber is required. | ||
| If ACH, ACHRoutingNumber is required. | ||
| If ACH, ACHAccountNumber is required. | ||
| If ACH, ACHPrimaryOwnerName is required. | ||
| If ACH, ACHAccountTypeId is required. | ||
| If AutoTransfer/ACH, VariablePaymentDateTypeId is required. | ||
| If AutoTransfer/ACH, VariablePaymentTypeId is required. | ||
| If AutoTransfer/ACH and VariablePaymentTypeId is FIXED_AMT, VariablePaymentFixedAmount is required. | ||
| If AutoTransfer/ACH and VariablePaymentTypeId is FIXED_AMT, VariablePaymentFixedAmount must be >= PaymentAmount. | ||
| If AutoTransfer/ACH and VariablePaymentTypeId is DAYS_PAST_CYCLE or DAYS_PRIOR_DUE_DATE, VariablePaymentDays is required. | ||
| If AutoTransfer/ACH and VariablePaymentTypeId is SPECIFIC_DAY, VariablePaymentDayOfMonth is required. | ||
| If disbursement provider is batch, must pass its validation. | ||
| Ensures funding is within limits. | ||
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All funds must be allocated.
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| OFAC is active and Payees have not passed OFAC check. | ||
| OFAC is active and has not been run on a primary applicant. | ||
| Precise ID is active and applicants have not passed the Precise ID check. | ||
| The application cannot have already been disbursed. | ||
| The application must be approved. | ||
| The application cannot be withdrawn. | ||
| The application cannot have a disbursement pending. |
In addition to the system-defined validations, institutions are able to create their own validations and To Dos that have the ability to prevent an application from disbursing.
