This screen function provides access to detailed repayment and loan balance information for the selected loan. This includes payment method and due date, payment plan information (principal, interest, late charge and collection costs details), and loan balance details. The latter shows amounts, amounts paid, cancelled and defaulted, and balances (broken out by principal, interest, late charge, collection costs, and origination).
The function is accessed by (1) selecting a loan from the Loan List via the associated radio button, and then (2) selecting the Financial item from the drop-down box that appears at the top of the Loan List display. When the Financial item is selected, a new window is opened (see example below) that contains the following:
An update form that is populated with information from the associated Loan Financial record.
A function Bar that contains Add, Save, Delete and Reset icons. The Add icon is disabled.
The user updates the loan financial information by entering or revising data in the appropriate fields. The following fields are required entry:
Archive Flag (* Archive Flag on the screen)
Installment Amount (* Amount on the screen, under the Payment Plan Information section)
Principal Amount (* Amount on the screen, under the Principal column of the Balance Details section)
Principal Balance (* Balance on the screen, under the Principal column of the Balance Details section)
Certain fields are displayed as read-only values: Payment Method, ACH ID, and Credit Card ID. These field values can only be changed through the Borrower Services/Loans/Payment Method function. T
The Archive Flag will also be a read-only value until the loan is deleted. Once deleted, the Archive Flag value will be represented as a drop-down box. The value can thereby be set to "No" to undelete the record.
Click on this link: Data Entry and Edit Guidelines to review information pertaining to what values may be entered into the various fields on the Loan Maintenance - Financial Information update form.
Click on this link: Loan Financial - General Information for a description of the purpose of the various fields found on the Loan Maintenance - Financial Information update form.
Click on the Reset icon to restore the entry/update form to its initial state. Any (unsaved) entries or updates which were made will be reversed.
To save the revised loan financial information, click on the Save icon. Clicking the Save icon will trigger an edit process that validates the user-entered data. If there are any errors, they will be displayed in a pop-up dialog box.
Click on the OK button to acknowledge the errors and return to the entry form. Modify the field(s) in error and again click the Save button.
If there are not any edit errors, the updated loan information will be written to the database, and the pop-up update window will be closed. The Loan List will be updated (if appropriate) to reflect the revised loan information.
To exit this process without saving the loan financial information updates, simply click on the Loan List, or choose another function from the Office Management Navigation bar. The pop-up Loan Maintenance - Financial Information window will be closed.
To delete the displayed loan information, click on the Delete icon. Clicking the Delete icon will trigger the display of a pop-up dialog box that requests the user to confirm the Delete action. For example:
Click on the OK button to acknowledge the Delete action. The associated loan record will be deleted from the CLM database and the pop-up Loan Maintenance - Financial Information window will be closed.
Please note: This action will delete ONLY the Loan Financial record. The associated Loan Exit, Origination, Benefits and Main records will not be deleted. These records should also be deleted to ensure a consistent CLM database.