Processes
Generate Planned Rate Changes
Purpose To automate the process of changing interest rates and the resulting instalment amounts due or maturity dates on Variable Loan accounts with instalments. The system will: Generate a list of accounts affected by a rate change Calculate a new ...
Create & Maintain Planned Interest Rate Changes
Purpose To post the Interest Profile or Interest Base Rate line and update the Maturity Date and/or the Instalment Amount Timing First business day following the Interest Rate effective date Access Variable Loan | Create & Maintain Planned Interest ...
Post Interest Rate Change Notification
Purpose To Post Future Rate Changes on Variable loans for both Future and Current ledger interest rate changes, create direct debit schedules and create communications to be sent to the account holder. Prerequisites A backup should always be taken ...
Post Default Interest on Variable Loan Accounts
Purpose This process posts default interest to all accounts with an interest due date up to and including the date specified on the process dialog. Interest will be posted according to the rules specified on each accounts dialog. Timing Interest ...
Variable Loan Post Instalments Due
Purpose Post Instalments due up to and including the posting date on Variable Loan accounts Timing This process is run daily Access Variable Loan | Post Instalments Due Process The posting date will default to yesterday’s date
Variable Loan Interest Rate Change Notifications
Purpose To automate the process of creating interest rate change advice notices with updated calculated values. The system will: Generate a list of accounts affected by a rate change percentage Create communications advising the change of rate Allow ...
Variable Loan Early Termination Enquiry
Purpose To calculate the termination amount on a Variable Loan to a particular date showing the accrued interest to that date and allowing for the entry of user specified termination fees. If required, a communication can be created to support a ...
Changing Interest Rates on a Variable Loan
Purpose Because these loans are variable in nature it is possible to change the interest rate on the loan during its life reflecting changing market conditions Access [F2] at Interest Profile Future or Interest Profile Current from the Variable Loan ...
Adding Variation Fees to a Variable Loan
Purpose Additional fees may need to be added to a Variable Loan if further advances are made, or the loan term is extended Access Variable Loan Account Browse | | Process Note: If you don't use the dialog for advancing funds, then process can be ...
Post Variable Loan Facility Fees
Purpose To post the Variable Loan Facility Fee accrual up to the specified posting date. Prerequisites A Facility Fee Transaction Type must have been specified on the Variable Loan Account Type for the process to work. Access Variable Loan | Post ...
Extending a Variable Loan
Purpose Allow the continued running of a Variable Loan once the maturity date has passed Access a Variable Loan from the Variable Loan Account Browse Process A Variable Loan may need to have its duration increased. Rather than setting up a new loan, ...
Refinancing a Variable Loan
Purpose To allow the capitalisation of arrears to the future ledger or for the advance of additional funds. Access Variable Loan Account Browse | | Process Note: If you don't use the dialog for advancing funds, then process can be completed by using ...
Variable Loan Planned Rate Changes
Purpose To automate the process of changing interest rates and the resulting instalment amounts due or maturity dates on Variable Loan accounts with instalments. The system will: Generate a list of accounts affected by a rate change Calculate a new ...
Variable Loan Early Termination Process
Purpose To calculate the termination amount and post the transactions required to terminate (settle) the account. Timing Termination of the loan should occur after the client has paid the termination amount due, and these funds have been cleared by ...