Originator group - product settings business rule
Business rules exist at originator group product level, allowing finance companies to set rules and settings that are specific to each combination of originator group and product.
The product settings business rule contains the the primary rules for the product when used by the originator group.
1. Navigate to Configuration -> Organisational Structure -> Select Originator Group product
2. Select Originator Group Product under Originator Groups
3. Apply the filter to find the Originator Group Product that you need to assign the newly created Secondary Credit Rating Table. Select the Finance Company, Originator Group and Product from the drop down lists and click on Apply Filter
4. Once you have filtered the Originator Group Product, Select it and got to Actions -> Business Rules -> Product Settings
5. Supply the details
Effective Date: The date from when the changes done on Product Setting business rule will get effected.
Credit Rating Table: The secondary credit rating table to use. Even if risked based pricing is not used, a finance company must have credit rating tables. If risk based pricing is not used and you would not like to categorise the applications by grade, a single credit grade can be created. See here for details.
Comprehensive Decision Tree: Select a decision tree to use during final evaluation if you are doing decisioning within the platform. See here for details.
Qualification Decision Tree: Select a decision tree to use during application qualification if you are doing decisioning within the platform. Qualification decisioning can be done to filter out applications to limit the number of applications required to be assessed by credit assessors. See here for details.
Comprehensive Scorecard: Select a scorecard to use during final evaluation if you are doing scoring within the platform.
Qualification Scorecard: Select a scorecard to use during application qualification if you are doing scoring within the platform.
Recommended Tables Limits: Select the recommended table limits to use. This is only required if you have setup recommended limits.
Arrears Letter Processing: Sect the arrears letter process o us to manage arrears. This will handle arrears letters and arrears fees. See here for details.
Application Document Decision Tree: Select the decision tree to use to determine what documents are requested from borrowers. This is only required if you intended to use the decision tree in the platform to determine what documents to request. See here for details
Term Period: What term period will the applications be in i.e. months or days
Originating and Warehousing Entity: The entities that will be assigned to the applications that get created.
Ownership group: The ownership group that will be assigned to applications that get created. See here for details on ownership groups.
Relocate Warehousing Entity in 100 Percent Funded : When a listing finalises, if the listing if 100% funded by investors with the same warehousing entity, then the warehousing entity for the application will be modified to that of the investors. This will cater for scenarios where for example a bank funds 100% of a loan that was originated through a finance company, the warehousing entity will be changed from the finance company to the Bank.
Application Origination: If true, this will be used to indicate if application origination occurs through Clearmatch . If false it will indicate that applications originate elsewhere (in other platforms) and can be passed into Clearmatch and as such no financial calculations will take place in Clearmatch as they will be expected to be supplied.
Adjust Rates As Per Credit Rating: If true, it indicates that risk based pricing will be used i.e. the interest rates will be determined by the credit rating. If unchecked the rates will be used as per what is supplied on the application which normally comes from a rate card.
Finance Agreement Administration: When purchasing an application to become a finance agreement if set to false, it indicates that the finance agreement administration is performed outside the system. In order for bids and investments to be created however a finance agreement must exist in the system and as such a finance agreement will be created from the application but NO recalculations will take place and no finance agreement administration like arrears messaging will take place. In this case all finance agreement transaction will be imported into Clearmatch .
Staff Members Can Create Applications : If checked it indicates that staff members at originator or originator groups can create applications. When a staff member signs into the portal the create application menu items will be available.
Members Can Create Application : If checked it indicates that members (borrowers) can create applications themselves. When a member signs into the portal the create application menu items will be available.
Finance Applications Via Market: Indicates that a peer to peer auction market exists to finance the applications. If unchecked it indicates that the finance company will finance the applications
Originator Group May Borrow : Indicates that the originator group can be used to borrow for this product.
Originator Group May Invest: Indicates that the originator group can be used to invest for this product.
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