Create a primary credit rating table

Primary credit ratings are the risk based credit ratings that are visible to the investor and borrower.

 

A finance company can only have one primary credit ratings table across the finance company. This credit rating table will apply to all the products and is what is presented to investors and borrowers, hence the reason for only one -  to allow consistency.

A finance company can have many secondary credit rating tables with different effective dates. Many secondary credit ratings can be assigned to one primary credit rating allowing business to refine the ratings for credit and pricing purposes without affecting what is presented to the investors and borrowers.

1. In Clearmatch Fusion, navigate to Configuration > Setup:

2. Select the Primary Credit Rating Tables option under Decisioning:

3. Click on the cross/plus icon   to add a new primary credit rating table ensuring that the following details are entered:

Finance company: A drop down list of the available finance companies that the new credit rating will be applied to.

Name: Enter a name to call the credit rating table.

Click on the  button to continue with creating the new table or the  button to return back to the Primary Credit Rating Table screen.

4. Once the new table has been successfully created, the credit ratings need to be added to the table. Simply select the table that was just created:

5. Then click on the Actions Panel  >  Functions > Add Primary Credit Rating:

6. Enter the following details:

Rating Name: A text field to enter a meaningful name for the credit rating.

Credit Rating Colour: Select an option from the drop down list NOTE: the colour is used to display the credit rating on the portal.

Click on the  button to add the credit rating or the  button to return back to the Display Credit Rating Table screen.

• Related Articles

• Create a secondary credit rating table

  Secondary credit ratings are a lower level subset of the primary credit ratings and are used by the finance company to control the risk based pricing to a lower level.  A finance company can have many secondary credit rating tables with different ...

• Create management fee table

  In order to create a management fee table, follow the steps below. IT is not recommended that existing management fee tables be edited when rates change as if this is done there will be no record of the old rates. It is better to create a new ...

• Create an establishment fee table

  The establishment fee tables contain the fee values that are charged to borrowers on establishment of a finance agreement. Some companies refer to these fees as document fees, others refer to them as setup fees. Essentially they are fees that are ...

• Henderson poverty index HPI table

  HPI (henderson poverty index) tables contain the values that will be used during application evaluation to calculate the net disposable income of the borrower, if the option to use the henderson poverty index is applied. See the surplus calculation ...

• Create electronic funds transfer files : direct credit export file

  This document includes the steps to create Direct Credit File from Fusion Create Direct Debit Export File  1. Go to Banking -> Electronic Funds Transfer -> Select the correct Warehousing Entity from the drop down.  2. Once the Warehousing entity is ...