Rules are actions which are configured to occur on any and all loans in the system if and when those loans meet a certain criteria defined by the setup of the rules.
When setting up a rule, a specific To Do action is defined. The point in time at which that action is to take place is defined by the NLS Event for that action. For some combinations of To Do and Event, a Frequency may be specified. A Condition, which determines if the action should be performed at all on the loan in question, can also be set. Finally, the Rule Setup is completed by giving the rule a name.
Rules need not be assigned to loans, loan groups, or portfolios because all rules are in effect across the entire database. For this reason, it is important that the condition be sufficiently restrictive to make sure that the rule will not execute in any cases where it is not intended.
To add a new rule, go to Setup > Loan Setup > Rules. Click Add to open the Rules wizard.
You will first be required to select from a list of To Do items.
|Abort Operation||Click Abort in the lower pane of the Rules window to bring up a dialog for entering the message that will be displayed when the operation is aborted. The operation to be aborted is either the addition of a transaction, a contact, or a loan, and this will be determined by the NLS Event associated with the rule.|
|Change Loan Status||Click loan status in the lower pane of the Rules window to bring up a dialog for selecting which status code to add to the loan. If the Remove Status Code checkbox is selected, the status code in question will be removed from the loan if it is currently on the loan.|
|Close Loan||This To Do operation will close the loan. This will be accomplished by executing a payment for the amount of $0.00 with the payoff flag selected and setting the Loan Status to Closed.|
|Execute Transaction Code||Click transaction code in the lower pane of the Rules window to bring up a dialog with a drop down list for selecting which transaction code to run. A further step in the wizard will allow you to select the amount for which to run that transaction code.|
|Pull a Credit Report||Click credit report in the lower pane of the Rules window to bring up a dialog for selecting which bureau(s) to pull the report(s) from and if an existing report should be used if it has been pulled recently.|
|Send Notification||Click notification in the lower pane of the Rules window to bring up a dialog for entering the message to be sent in the notification, and to which user and or group that notification should be sent.|
|Run Script||Click script in the lower pane of the Rules window for entering a script to be executed. See scripting for more details.|
|Execute Loan Approval||Click loan approval in the lower pane of the Rules window to bring up a dialog for entering the user or group to which to assign this task. The Loan Status will be set to DRAFT until the loan is approved.|
|Override commitment distribution order||Click commitment distribution order in the lower pane of the Rules window to bring up a dialog for configuring the distribution percentage based on the principal balance ratio of the selected loan groups or to use a specific percentage. When specifying a specific ratio, the sum of the ratios must be 100.|
Without exception, after selecting a To Do, the next step in the Rules setup process is to select the NLS Event that determines at which precise point this action is to take place. However, the list of possible Events that are appropriate to each To Do is different (although overlapping). The events themselves are self explanatory. The table below will list which NLS events are applicable to each To Do.
Certain combinations of a To Do and an NLS Event involve events (such as the accrual) which occur every day, and it may not be desired that the condition be checked to determine if the To Do should be executed quite this often. Therefore, some combinations allow an optional setting of Frequency. If no Frequency is set, it is assumed to be daily. Frequency options which may be otherwise set are Weekly and Monthly.
If Weekly is selected, clicking Weekly in the lower pane will bring up a dialog box for the selection of a day of the week.
If Monthly is selected, clicking Monthly in the lower pane will bring up a dialog box for the selection of which months the To Do is to be executed. Additionally, a specific day of each month may be selected. Lastly a specific day of the week may be selected along with the Ordinal: First, Second, Third, Fourth, or Last. This allows for the selection of a single day of each month which will be a constant day of the week.
The following table lists all of the combinations of To Do and NLS Event for which a frequency of Weekly or Monthly may be selected.
|Execute Transaction Code||Pre-accrual|
The Condition portion of a rule setup defines the situations under which the rule should or should not execute. The condition may be defined based on values in the contact that the loan is under, values in the loan account itself, or based on an advanced trigger, as defined in the table below.
Conditions specifying a date range is configured by clicking on the in this date range link.
Conditions can be set to match either before of after the specified date.
|Use actual date||The exact date as specified.|
|Use current date||Delta from the date of the rule’s creation.|
ExampleIf the date is January 15th, +2 days will use January 17th as the criteria, -2 days will use January 13th as the criteria.
|Use this date||Delta from the date on which the rule is applied.|
Finish Rule Setup
When the event, frequency, and condition have been defined, and any required parameters for the condition have been configured, click Next> to finalize the rule setup. The rule will be defined on the interface, and to finish the configuration, the only remaining requirement is to give the rule a name.
Click Finish to complete the rule setup.