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Re-Process Stipulation Rules

Event Processing now offers the Process Stipulation Rules action, which enables stipulation rules to re-process based the fulfillment of an event.  Once triggered, this action re-processes all stipulation rules assigned to the selected application type.

 

Automated Funding, Document Processing and Disbursement

Approved applications may be processed automatically based on administrative configurations. Automated processing enables institutions to completely process an approved application with limited or no employee interaction through document processing and disbursement. This process may fully automate approval processing or only specific steps in the post-approval process.

Based on administrative configurations, the Framework's Event Processing engine may:

• Automatically allocate money from existing allocate loan proceeds to assets, payees and deposit accounts.
• Automatically create new deposit accounts.
• Automatically assign loan suffixes.
• Automatically assign and enforce document generation stipulations and To-dos.
• Automatically generate application documents based on delivery method.
• Automatically assign and enforce disbursement stipulations and To-dos.
• Automatically disburse loan applications

Ready for Documents

To automatically proceed from the Application Approved stage to the Ready for Documents stage, the calculation process flags an application as IsLoanReadyForDocs. For an application to be flagged as IsLoanReadyForDocs the following items must be fulfilled:

• Primary Applicant Account Number is not blank.
• Application Account Number must have a value.
• Loan funds must be fully allocated. FinalLoanAmount – AllocatedAmount (Funding Records) = 0
• No remaining loan stipulations/to-dos required for documents:
  • Stipulations met/waived
  • Manual To-dos completed
  • Automated To-dos completed  

If any of the aforementioned requirements are not fulfilled, automated processing stops.

The fulfillment and enforcement of these requirements may be completed through the following configurations:

Assign Primary Applicant Account Number

Configure an Event Processing pair to automatically create new member account for non-member applications

• If Account Origination active or the HOST_AUTOGEN_PERSONNUMBER parameter is set to True, use the new Create New Member Account action in the event/action pair.
• If using custom code to create new member accounts, use the existing Execute Code action to call the custom code in the event/action pair.
• If a Symitar PowerOn is used to create new member accounts, use the existing Execute PowerOn action to call their PowerOn in the event/action pair.

Assign Application Account Number

Configure an Event Processing pair to automatically generate the next available suffix.

• If using custom code to assign the next available suffix, use the existing Execute Code action to call the custom code in the event/action pair.
• If using rules to assign the next available suffix, use the existing Execute Rules action in the event/action pair.
• Otherwise use the new Assign Next Available Suffix action in the event/action pair.

Fund Application

Author event processing rules using the following templates to automatically create/add funding records:

• Add a GL voucher funding record to a Loan
• Add an Asset Deposit funding record to a Loan
• Add an Account Product Deposit funding record to a Loan
• Add a Check funding record to a Loan
• Add an Internal Transfer funding record to an Account

Once the funding rule has been authored, use the Execute Rules action within Event Processing to automatically create funding records based on rule logic.

Validations and Stipulations

• Using Rules Manager author Stipulation rules that assign stipulations which are required for document generation.
• Using Rules Manager author Validation Rules that add To-Dos which are required for document generation.

Ready for Disbursement

To automatically proceed from the Ready for Documents stage to the Ready for Disbursement stage, the calculation process flags an application as IsLoanReadyForDisbursement. For an application to be flagged as IsLoanReadyForDisbursement the following items must be fulfilled:

• Document package statuses are set to Completed, once all signatures are received.
• No remaining loan stipulations/to-dos required for disbursement:
  • Stipulations met/waived
  • Manual To-dos completed
  • Automated To-dos completed  

If any of the aforementioned requirements are not fulfilled, automated processing stops.

The fulfillment and enforcement of these requirements may be completed through the following configurations:

Generate Documents

Configure an Event Processing pair to automatically create application documents based on the following configurations: 

• Select the Field Changed event and choose the following field:
  • IsLoanReadyForDocs
• Select the Generate Documents action.

Validations and Stipulations

• Using Rules Manager author Stipulation rules that assign stipulations which are required for disbursement.
• Using Rules Manager author Validation Rules that add To-Dos which are required for disbursement.

Disbursement

Once an application is flagged as IsLoanReadyForDisbursement, Event Processing may disburse the application. Within the Disburse Application action, the following processes occur:

• Actions paired with the Pre-Disbursement event
• Disbursement validations
• Calculate
• Loan disburse using the connector specified as the Disbursement Method

 

 

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