Create Deal Options

Deal Options Processing are used by the financial institutions partnered with the vehicle dealerships to increase their loan volume. Dealers can now provide their customers with multiple term or rate pairs in addition to the original request.

Original Request Deal Option

This application level template enables the institutions to define the interval in which the deal option terms should increase and/or decrease.

The syntax of this template is provided below.

Create deal options that <action> term by <interval> month intervals and prioritize <priority> terms.

Template Placeholders	Display Text	Required Value in Template
<action>	[select action]	Yes Valid values: Decrease Increase Increase and Decrease
<interval>	<interval>	Yes
<priority>	[select priority]	No Valid values: Decreased Increased

Using this template, the 'Term' or "Deal Intervals" in the Deal Options Grid are generated which are used while creating various deal options scenarios.

When the action parameter is set as "Increase", the terms are calculated in increasing order by adding the 'interval' parameter until the Maximum Term or a maximum of 8 term/rate pairs are reached.
When the action parameter is set as "Decrease", the terms are calculated in decreasing order until the Minimum Term or a maximum of 8 term/rate pairs by subtracting the 'interval' parameter.
When the action parameter is set as "Increase and Decrease" with priority as "Increase", the terms are first calculated in increasing order until the Maximum Term or a maximum of 8 term/rate pairs are reached. If the total number of terms is less than 8, the remaining terms are then generated in decreasing order until the Minimum Term or a maximum of 8 term/rate pairs are reached.

If the action and interval parameters are not set, then Deal options are not processed and a notification "Deal Options were not created because minimum parameters were not defined" is displayed.

Once the deal intervals are generated, the 'Execute Deal Options Processing' action processes the Original Request where the Maximum Amount is set as the Original Loan amount and Maximum LTV is calculated using the below formula.

Application LTV Ratio * 100

This is a multi-step process and triggered by event processing.

To create a deal option, perform the following steps:

Navigate to System Management > Origination > Event Processing.
Click Create.
When you click Create, the following window is displayed.
Click Actions tab.
Click Add to add action type for an event.
Select Execute Deal Options Processing from the Action Type drop-down list and click OK.

When you click OK, the following window is displayed.
Edit and map the action items to events as shown below.

When you click OK, the following window is displayed.

In the Event Processing screen, the action items are mapped to events.
Navigate to Event Processing window and click General tab.
Enter name in the Name field.
Enter description of the event in the Description field and click Save.
Click Events tab and the events mapped to the action items are listed here.

Select Field Changed event and click Add button.

When you click Add, the below window is displayed.

Select Fields window allows the user to select the required fields for Field Changed event.

Click Actions tab and select Execute Deal Options Processing.
Map the newly added fields to deals as shown below.
Click Rules tab to view the fields listed in the Available Rules list. The below screenshot is an example for creating deal options using Rules.
Click Save.