Collapse All Expand All

Promises to pay are linked automatically to the client and the highlighted loan in the loan grid. These links cannot be broken. Access to this workspace tab is controlled by Security Profiles.

All promises in worklists assigned to the logged in user that are due today and tomorrow appear on the user's Elements home dashboard.

On this tab users can create, edit and cancel a Promise to Pay.

Creating a Promise

To create a new promise on a loan, ensure that the desired loan is selected in the Loan Grid and click the Promises tab. All existing promises for the loan are displayed in reverse chronological order. The total number of outstanding promises for the loan are displayed in brackets on the tab.

Click the New Promise button.

The Promise Detail window appears. Enter the date for which the funds have been promised, the amount promised and any comment about the promise. All other fields are read-only.

Click Save to save the promise. Click Cancel to disregard creating the promise.

If an administrator has enabled the Auto Follow-up note for Promise Entered in System Management, a follow-up note is added to the account using the specified call type. The default number of days associated with the call type code is ignored.

• If the Force Follow-up date option is selected for the call type, the follow-up date on the account is set to the day after the entered promise, regardless of the current follow-up date. For example, if promises are entered for March 5, March 12 and March 17 in that order, the follow-up date is March 18.
• If the Force Follow-up date option has not been selected for the call type, the follow-up date on the account is set to the day after the entered promise, provided the follow-up date is not already in the future. For example, if promises are entered for March 5, March 12 and March 17 in that order, the follow-up date is March 6. If the follow-up date is already in the future when the first promise is entered, the follow-up date will not be changed at all.

Creating a Promise to Split Between Multiple Loans

If a client promises to pay a specific amount and requests that the amount be split between two or more loans, a separate promise needs to be created to apply against each loan. For example, a client promises a payment of $750 to apply to his mortgage and to his credit card loans. He wants to apply $700 to his mortgage and $50 to his credit card. To do this, highlight the mortgage loan on the loan grid and create a promise for $700 and then highlight the credit card on the loan grid and create another promise for $50. When the payment is posted in the core banking system, each payment also needs to be split between the two accounts. When the download is run, the funds are applied to each account accordingly and the promises are marked as kept.

Editing a Promise

To edit an existing promise on a loan, ensure that the desired loan is selected in the Loan Grid and click the Promises tab. Click to highlight the promise to edit and click the Edit Promise button.

The Promise Detail window appears. Only the Comment field can be changed. When finished editing the comment, click Save. Click Cancel to disregard any changes.

Cancelling a Promise

To cancel an existing promise on a loan, ensure that the desired loan is selected in the Loan Grid and click the Promises tab. Click to highlight the promise to cancel and click Edit Promise. The Promise Detail window appears. Select Cancelled from the Status drop-down. When finished, click Save. Click Cancel to disregard cancelling the promise.