Fees Panel Configuration

The Fees panel provides administrators with the ability to define the fees associated with a loan application created through the virtual application process. When rendered in Virtual Capture, the Fees panel enables the applicant to decide which fees to include in the total loan amount, providing them with flexibility and control over the fees that are incurred up-front.

The Fees panel can be configured to appear within an Application type screen in System Management > Origination > Virtual Capture > Screens.

To begin configuring the Fees panel, navigate to the Panels tab and click within the Edit Screen window.

From the Select Panel window, select Fees and click .

Within the Edit Panel window, define the General attributes.

Once all General attributes for the Fees panel are defined, click to continue defining the Application screen attributes.

Once the Application screen is created and assigned to a Virtual Capture Workflow Model, a rule must be created to present the correct fees to the applicant based on the loan for which they are applying.

To configure a rule to associate fees with a loan product, navigate to System Management > Origination > Rules Management and click .

Select the Fees category, click and select Business Rule.

Select the Application entity and click .

Within the New Rule window, define the General attributes.

Navigate to the Definition tab to build the rule. In this example, a rule is defined to list a Processing fee and a Miscellaneous fee when an applicant is creating an application for an auto loan.

There are multiple ways to author a rule. The below rule should be used for example only.

Click to retain the new rule and return to the Rules Management screen.

Once saved, the new business rule populates within the Rules grid and is available for execution.

For more information on Rules, please see the Rules Management topic of the Lifecycle Management Suite Administrator Guide.

To ensure the rule executes to display the fees defined for the specific loan type, the rule must be associated to a loan application type within System Management > Origination > Loan > Loan Application Types.

Within the Fees tab of the Loan Application Type window, select the newly-created auto loan fee rule from the Available list and use the arrow buttons to move it to the Assigned list.

When finished, click .

In order to appear in a Virtual Capture application, the screen including the Fees panel must be configured to appear within the Virtual Capture Workflow Model that is assigned to the Application Type (Product) within Virtual Capture Settings.

Once the workflow model is assigned to an Application Type, the Fees panel is presented to the applicant during the virtual application process.

A Fees grid containing the following columns is displayed within the panel:

Column

Description

Fee Name

Displays the name of the fee associated with the loan product as defined in the Business Rule.

Fee Amount

Displays the amount of the fee as defined in the Business Rule.

Include in Loan Amount

Select this check box to include the fee in the total loan amount.

This check box is selected by default.

Upon selecting or deselecting the fees, click or to proceed with the next step of the workflow.