Information about a client's loans is displayed in the Loan Grid on the workspace.
The first field in the Loan Grid is always an internally assigned identification number. The numbers are always incremental starting at 1 and are used to display links between contacts and loans. These numbers are not permanently linked to the loan.
The order in which loans are displayed in the Loan Grid is by the user's worklist, delinquent or locked status, follow-up date and current balance. Delinquent or locked loans that are in a user's worklist appear at the top. Delinquent or locked loans in other worklists appear next, followed by any unlocked non-delinquent loans. In most cases, the loan that caused the client to be loaded when the "Next" button was clicked appears at the top of the Loan Grid.
Additional information about a loan is visible on the Loan Maintenance page. Access to the Loan Maintenance page is controlled by Security Profiles.
The Collection Element accommodates both core-maintained and locally-maintained loan records.
From the workspace users can:
- create or delete a loan record.
- open the Loan Maintenance page to edit loan or Returned Check information.
- convert the loan to be locally-maintained or revert it to being host-maintained.
- set the follow-up date, priority list and order and loan group/subgroup fields for loans.
Create a New Loan Record
- Click the New button to the left of the Loan Grid. A loan created in the Collection Element will always be locally-maintained. It cannot be transferred to being core-maintained.
- Enter all relevant information.
- Click Save.
- You will be moved automatically to the Transaction Maintenance form. You must create a charge-off transaction for the entire loan balance if you wish to be able to track this loan in the Collection Element.
Edit a Loan Record
- Select the Loan record in the Loan Grid on the Workspace.
- Click the Edit button to the left of the Loan Grid.
- For core-maintained loans, the Import fields and any fields imported from your core system will be disabled.
- For locally-maintained loans, most data fields can be edited. Only the balance fields (principal balance, interest balance, cost balance and current loan balance), current amount due and the interest date are read-only. These fields are controlled through transaction processing.
Convert a Loan to being Locally-maintained
- Select the Loan record in the Loan Grid on the Collect page.
- Select the Transactions page.
- Click the New Transaction button at the left of the Transactions page.
- Enter aCharge-off Transaction.
- If this loan continues to be included in the download file, the In Last Import flag will be checked but no information will actually be loaded into this loan record. The Last Time Imported field will indicate the last time this loan was actually updated by the core system.
Revert a Loan to being Core-maintained
Only those loans that were originally core-maintained can be converted back to being core-maintained.
- Select the Loan record in the Loan Grid on the main Collect page.
- Select the Transactions page.
- Click the New Transaction button at the left of the Transactions page.
- Enter a Charge-off Reversal Transaction.
- If the In Last Import flag in the Import section is checked, you can convert the loan back to being core-maintained.
Delete a Loan Record
Only locally maintained loans with a status of Closed, Settled, New or Inactive can be deleted.
- Select the Loan record in the Loan Grid on the main Workspace.
- Click the Delete button to the left of the Loan record.
Any links between the deleted loan and contact, follow-up mail items or checklist records will be removed. All contact and follow-up records will be retained. All transactions and promises to pay linked to the loan will be deleted.
