This function is used to enter and maintain information pertaining to the various Note Types that are utilized within the CLM system. Before a loan can be originated or otherwise inbounded to the CLM system, it MUST have a corresponding record in Note Types. A user cannot inbound or otherwise process a loan within the CLM system without having a corresponding Note Types record. This is because the data contained in the Notes Type record is used when setting up and applying payments, as well as applying benefits to a given loan.
The Note Maintenance function is used to maintain the following information for each type of loan that is used within the CLM system:
General Information - loan identification data, such as name, type, and vintage.
Benefits Information - the deferments, postponements, and cancellations that can be applied to the note type.
Payment Information - payment terms, frequency and schedule; payment application priorities; applicable interest rates and amounts; applicable late charges and amounts.
This function is accessed by selecting the Note Maintenance function from the drop-down box that appears in the Navigation Bar. When the function is selected, the Office Management screen is updated as follows:
A listing of all Note Types that are currently in the CLM system is displayed, as shown in the example below. The user can select any of these Note Types by clicking on the magnifying glass icon. Once a Note Type has been selected, its associated information can be updated, or the Note Type can be deleted from the system.
If there are no Note Type records in the CLM system, the following message is displayed:
The Add icon in the function bar is enabled, thereby allowing the user to add a new loan type.
The Note Types Maintenance function enables the user to perform the following actions depending on their security profile:
Click on each of the above links for a more detailed description of each of these processing actions.