Add a Fee

Using the Add a Fee or Add a Fee (Home Equity) action templates, rule authors are able to automatically add loan fees to an application during application initialization, when an application is decisioned, and as part of the Calculate process.

Prior to the 15.01.36 release, two rule templates existed that shared a similar naming convention. These action templates have been renamed to Add a Fee - OBSOLETE and Add a Fee (Home Equity) - OBSOLETE and are being phased out. Any rules authored with these templates will break when they are removed in a future release, therefore it is recommended that the Add a Fee and Add a Fee (Home Equity) action templates reviewed in this topic are used to author Fee rules and replace existing rule logic that uses the OBSOLETE templates.

This template only provides the ability to add loan fees to an application. The Add an Account Product Fee record template must be used to automatically add fees for an account product to an application. Please see the Add an Account Product Fee Record Vocabulary Template example in this guide for more information.

To begin authoring a rule to add a loan fee, navigate to System Management > Origination > Rules Management and click to open Rules Manager. Create a new rule using the Fees category and Application Entity.

When assigning Fee rules to a loan or account product, the Available box lists all Fee rules that have been authored in Rules Management; therefore, if Fee rules are authored for both loan and account products, it is highly recommended that the institution titles their rules in a way that identifies whether the fee applies to a loan or an account product. This ensures that the rules including the correct Fee template are assigned to each loan and account product, and the fees are able to be applied to the product during rule execution.

The following action templates can be used to automatically add a fee directly to an application:

Show Add a Fee

When authoring the If Statement, define the conditions which must be met in order for a fee to be added.

For example:

SubProduct has a value of

When authoring the Then Statement, select the "Add a Fee" action template. Upon selecting this template, the following vocabulary populates:

[select fee type] - allows rule authors to select a fee type. This list includes all values configured for the FEE_CODE lookup in System Management > Origination > Field Configurations.
[enter fee amount] - allows rule authors to enter a fee amount.
[true/false] - allows rule authors to identify whether a fee is a pre-paid finance charge, should be included in the loan amount and/or included in MAPR calculations for a close-ended loan.

Show Add a Fee (Home Equity)

The Add a Fee (Home Equity) template provides the ability to automatically add a fee to an application where the Real Estate Type field for the Sub-Product is set to Home Equity.

When authoring the If Statement, define the conditions which must be met in order for a stipulation to be added.

For example:

SubProduct has a value of
RealEstateType has a value of Home Equity

When authoring the Then Statement, select the "Add a Fee (Home Equity)" action template. Upon selecting this template, the following vocabulary populates:

[select fee type] - allows rule authors to select a fee type. This list includes all values configured for the FEE_CODE lookup in System Management > Origination > Field Configurations.
[enter fee amount] - allows rule authors to enter a fee amount.
[true/false] - allows rule authors to identify whether a fee is a pre-paid finance charge, should be included in the loan amount, included in MAPR calculations for a close-ended loan and/or identify whether the applicant selected the provider/vendor to be used for the service.
[enter amount] - allows rule authors to enter the amount to be paid outside of closing.
[select] - allows rule authors to select the party responsible for paying the fee. This list includes all values configured for the FEE_PAID_BY lookup in System Management > Origination > Field Configurations.

The example below provides a demonstration of a rule that adds a fee to an application based on the Sub-Product:

Assigning Fee Rules

After a Fee rule is created and saved to the rule application, it can be assigned to the desired application type within the Fees tab in Loan Application Types.