Loan Documentation Setup
Overview of IL405
Many loans require the borrower to provide legal documentation at certain points during the lifecycle of the loan. As a result, your organization may want to indicate the loan documents needed, when they are needed, and the types of loans to which they apply.
This is the purpose of Loan Document Maintenance. It allows you to define the various types of loan documents and the circumstances when they should be used. The rules in this template are then applied in an automated fashion each time Loan Document Control File Add (IL435) is run. This program might indicate, for example, that a certain type of completed application is required for all committed loans as of 30 days past the commitment date. A documentation entry would then be placed in the loan record to flag this and ensure that it’s not overlooked
To make a new loan documentation entry:
- From the DDI-Connect main menu, double-click Financial Services
- Double-click Loan
- Double-click Setup
- Double-click Loan Documentation Setup. You will see this screen:
- Click the Add button on the toolbar. This will activate the fields for a new loan document item:
* = Required
| Field | Description |
|---|---|
| Document Code* | Description associated with the unique code identifying the loan-document template. Document codes must be set up in Name/Address code set #600 before they will be accessible here. For information on setting up loan document codes, reference the Document Code setup page located here: Loan Document Codes |
| Action Code* | Type of action to be taken on loans meeting the conditions specified for this loan-document template. Maintained in Name/Address code set #604. For information on how to set up Loan Document Action codes, please reference the setup page located here: Loan Document Action Codes
Note: DDI-Connect does not take specific actions based upon the action code selected for a loan document. This selection is purely informational and does not drive functionality. |
| Select Option* | Used in combination with the Select data field to specify a certain loan or category of loan. If “Registration” is selected here, for example, you would specify which master account ID in the Select data field. Your organization can modify the codes available in this list by editing the Loan Documentation Selection Options. Reference this page for information on how to do so: Loan Documentation Selection Options Setup |
| Select data | Used in combination with the Select option field to specify a certain loan or category of loan. If “Loan Type” is selected, for example, you would specify the valid loan type(s) here. DDI-Connect validates the criteria entered during the save and produces an error if inappropriate |
| Date basis | The date relative to which Loan Document Control File Add (IL435) will create a loan-document record. This selection works in conjunction with the Months before (-) or after (+) field or the Date field to create the loan-document record at the appropriate point. This field indicates that the loan-document record is to be created relative to, for example, the maturity date |
| Loan Status | Two-digit numeric code (or codes) indicating the status(es) for which loan-document records are to be created. “ALL” selects all loan statuses. You can use a comma-separated list to select multiple loan statuses, or click the list icon to select from a list of active Loan Status codes in the system |
| Memo | Freeform text associated with the loan-document template |
Once you have added all of the information, click Save to retain your changes and add your new loan documentation code to the list.
