This chapter provides an overview of Oracle Loans as well as the setup tasks that you need to perform in Oracle Applications for Oracle Loans.
This chapter covers the following topics:
This section provides you with an overview of the setup steps for implementing Oracle Loans.
These setup steps span the following Oracle applications:
Use the People window to enter basic information for your employees.
See: Entering a New Person, Oracle HRMS Workforce Sourcing, Deployment, and Talent Management Guide.
In Oracle System Administrator:
Steps
Run the Replicate Seed Data program for each operating unit in which you plan to use Loans.
This step replicates the Loans batch source that you will use during Oracle Receivables setup as well as other data such as receivable activities and reason codes. You should complete this step before configuring the Loans credit memo batch source.
Set these profile options:
In the Users window, define all Loans users, and attach the appropriate responsibilities, either:
Loan Administration
Use this responsibility to set system options, enter accounting defaults, define loan conditions, fees, interest rates, and notifications.
Loan Agent
Use this responsibility to create loans, enter credits, view loan information and payment history, view and submit concurrent requests, and answer customer service inquiries.
Functional manager users can also use this responsibility to approve loans and update loan accounting.
Tip: Set the Concurrent Report Level profile option to Responsibility to enable both agents and managers using the same responsibility to view each other's concurrent requests, such as billing. See: Concurrent Report Access Level.
Note: Before users can perform tasks in Loans, you must assign the appropriate roles to each user. See: Oracle Resource Manager Setup.
See: Overview of Oracle E-Business Suite Security, Oracle E-Business Suite Security Guide.
In the Descriptive Flexfields Segments window, define context field values, if needed. You can use these values to capture and report on information relevant to your organization.
Loan Information
Use this flexfield to enter additional information in the General section of Basic Information for a loan.
Loan Asset Information
Use this flexfield to enter information about an asset in the Asset section of the Borrowers information.
To add additional context values:
Deselect Freeze Flexfield Definition.
Select Segments to add additional values and select the Enabled check box.
Compile. Then select Freeze Flexfield Definition.
Clear the cache and bounce the middle-tier web server so that Loans reflects the changes made. This step is not required if you change profile option settings at the user level and do not set up descriptive flexfields.
Using the CRM Resource Manager responsibility, complete these steps:
Steps
In the Resource Manager, define your employees as resources.
In the Resource Manager, query your resources and add one or more roles to each resource. Loans has three roles: Loan Manager, Loan Agent, and Loan Administrator.
Related Topics
Overview of the Oracle Resource Manager, Oracle Trading Community Architecture User Guide.
If your organization offers loans in currencies other than your ledger currency, then you must define those currencies in General Ledger.
See: Defining Currencies, Oracle General Ledger User's Guide.
The accounting periods need to be open when approving and billing the loans. For detailed information, see: Opening and Closing Accounting Periods, Oracle General Ledger Implementation Guide.
Define an active credit memo transaction batch source for Oracle Loans for use during the reverse or reverse and rebill process.
Ensure the Type is manual, and set Automatic Batch Numbering and Automatic Transaction Numbering to Yes.
See: Transaction Batch Sources, Oracle Receivables Implementation Guide.
Query the seeded Loans batch source in the Transaction Source window and, in the Credit Memo Batch Source field, enter the credit memo batch source that you created in the previous step.
(Optional) Define three default transaction types for use when billing:
Loan principal
Loan interest
Loan fees
When defining these transaction types, be sure to set:
Transaction Status to Open
Creation Sign to Positive
Tax Calculation to No
Natural Application Only to Yes.
Note: You can use existing transaction types for principal, interest, and fees, provided that you set the Tax Calculation option on those transaction types to No. If you use existing transaction types, then skip this step. Each transaction type must have a Credit Memo Type of Credit Memo defined.
Note: When defining transaction types for Loans, do not enter accounting information. Instead, enter default accounting in Loans. See: Setting Up Accounting.
See: Transaction Types, Oracle Receivables Implementation Guide.
Open GL periods so that you can successfully execute billing.
Depending on your loan requirements, you might need to open GL periods for up to one year in advance.
See: Opening and Closing Accounting Periods, Oracle Receivables User Guide.
Confirm that you have no Revenue Policy system options defined.
In the System Options window, all fields on the Revenue Policy tab must be blank.
See: Defining Your Revenue Policy, Oracle Receivables Implementation Guide.
Query the seeded Receivable activity, Loan Conversion, and enter the GL account for loan clearing to be used to automatically adjust an existing receivable when it is converted to a loan. This step is required if you create Extended Receivable Schedule loans and plan to automatically adjust the receivable balance to zero.
Loans integrates with Oracle Payables to disburse funds for a direct loan and seeds Loans as a source for transactions imported to Payables through the interface tables.
Verify that Loans appears in the Source Lookups in Payables.
If your organization pays invoices in multiple currencies: then you must:
Set up and enable additional currencies.
Select Use Multiple Currencies on the Currency tab.
Define additional internal bank accounts and remittance documents for each currency you will use.
See: System Setup for Multiple Currency, Oracle Payables Implementation Guide
Payables periods need to be open only for Direct loans. For detailed information, see: Controlling the Status of Payables Periods, Oracle Payables Implementation Guide
To be able to use notifications in Oracle Loans, set up Oracle Workflow.
Tip: It is recommended that you set up the user e-mail addresses that Workflow uses to send notifications, in Oracle HRMS rather than in Oracle System Administrator.
In order for Oracle Loans to display notifications properly on the dashboard, in Preferences, set the Notification Email Style to HTML Mail for each user.
See: Overview of Required Setup Steps, Oracle Workflow Administrator's Guide.
Log on to Oracle Loans using the Loan Administration responsibility. Under Loan Administration, click Setup, and complete these steps:
Global Setup
Operating Unit Dependent Setup
From the navigator, go to LNS: Lookups to define lookups.
Important: After you complete your Loans setup, clear the cache and bounce the middle-tier web server so that Loans reflects the setup changes.
Set up the interest rate indexes for your loans.
When a loan agent selects an index for a loan application, the rate will default for the index date selected from the index rates you set up.
You can enter interest rates manually or upload a file from an external source.
Tip: Save the index name before adding rates or importing rate files.
To upload a rate file, create an Excel spreadsheet with three columns formatted as show in this table:
| Start Date | End Date | Rate |
|---|---|---|
| dd-Mon-yy | dd-Mon-yy | xx.xx |
Use two decimal points for rate percentage. For example, enter 6.25 if the rate percentage is 6.25%. Save the spreadsheet with a .csv file extension.
Define the loan conditions that your agents can attach to a loan application. Condition names must be unique within an operating unit.
Condition type determines where the condition is used. The following conditions types are available in Oracle Loans:
Additional Receivable Approval: Use this condition type during approval of additional receivable for ERS loan.
Conversion Approval: Use this condition type during conversion from disbursement phase into term phase for Disbursement to Term loans.
Disbursement Approval: Use this condition type during disbursement submission process for direct loan.
Loan Amount Adjustment Approval: Use this condition type during approval of loan amount adjustment for direct loan.
Loan Approval: Use this condition type during loan approval process.
You can update conditions at any time.
Note: Do not delete a condition that is attached to an approved loan.
To attach a condition to a loan application, see: Conditions.
Custom conditions provides you with the ability to use custom business logic for automatic validation of key loan activities like loan approval, disbursement approval, loan amount adjustment approval , and so on.
Any custom condition procedure must have the following signature:
PROCEDURE MY_CUSTOM_CONDITION(
P_COND_ASSIGNMENT_ID IN NUMBER,
X_CONDITION_MET OUT NOCOPY VARCHAR2,
X_ERROR OUT NOCOPY VARCHAR2);
Where:
P_COND_ASSIGNMENT_ID: Input parameter that carries valid COND_ASSIGNMENT_ID from LNS_COND_ASSIGNMENTS table. This parameter is passed by Loans system into the custom procedure. Custom code uses this to find required loan data.
X_CONDITION_MET: Output parameter that carries result of custom validation. The custom procedure sets and passes this parameter back to Loans system. Valid values are Y (condition validation has succeeded) and N (condition validation has failed).
X_ERROR: Output parameter that carries validation error message in case condition validation has failed. The custom procedure sets and passes this parameter back to Loans system. The error message states reasons for validation failure and is displayed on the Loans UI.
Event notifications can be enabled or disabled for an entire loan class or for individual loan types within a class. They are enabled by default. You can disable notifications for some events to minimize the number of notifications sent to loan agents and managers. You can determine the critical event notifications and disable others to minimize the number of notifications sent to loans users.
To enable or disable an event notification for an entire loan class, search for events by loan class. Select an event and change the enable flag.
To enable or disable an event notification for a specific loan type within a loan class, search for a specific event, select the event for the corresponding loan class, and change the enable flag for the loan type.
Loan Type is a structure to which Loan Products are associated. A Loan Type provides the mandatory characteristics to set boundaries while defining Loan Products. Loan Type defines accounting, reserving funds, critical calculations, ability to convert construction loan to permanent loans and requirement for collateral. Setting these parameters ensures all associated Loan Products adhere to same default settings as set up in the selected loan type. Before creating a new loan type, you can search for existing loan types that match your criteria and duplicate the loan type.
Creating a Loan Type
To create a new Loan Type, login using the Loan Administration responsibility, select Setup and click Loan Types under Global Setup. Click Create and perform the following steps:
Enter the General Information for the loan type and select Direct Loan or Extended Repayment Schedule (ERS) Loan as the class.
Direct Loan is a disbursement of funds under a contract that requires repayment of such funds with or without interest.
ERS Loan is a loan converted from one or more receivables and assigned terms and conditions for repayment.
Based on the Class selected, the parameters in the Details section vary.
Allow Conversion to Term Phase: Setting this to Yes enables conversion of a loan from Disbursement to Term phase.
Select No if loans of this type must be paid off in Disbursement phase and cannot be converted to Term loans.
Credit Review: This option enables you to configure the requirement to review the credit status of borrowers.
In the Terms for Payment section, select the payment applications and assign a sequence. You can add new or remove existing payment applications.
You can only create loan products for loan types with a status of Completed. If any required fields for a loan type are not filled in, then the status is Incomplete.
You can only delete a loan type if it is Incomplete or if it is Completed without any loan products assigned to it. Loan types with loan products assigned to it can only be end-dated and made unavailable.
If you are updating a Loan Type, the Class, Start Date, and Details are read-only fields and cannot be edited. You can end-date existing Loan Types so that they are not assigned to new Loan Products.
You can create loan types that are similar to existing types. Search for the Loan Type you wish to duplicate and click Duplicate. Replace the "Copy of <Loan Type Name>" with a new name (if necessary). Enter a Description and Start Date. The Class defaults from the original Loan Type and cannot be changed. Mark it Completed to make it available for assignment to Loan Products.
Additional Information: If you change the values of a Loan Type after marking it Completed, the new values will not affect existing loan products assigned to the loan type.
Set the following system options.
Note: You must clear the cache and bounce the middle tier server whenever you change profile option settings at any level other than User level, or add or change values that appear in Loans pages.
Day Count Method
Determines the number of days in a period when calculating interest. Select the Day Count method appropriate for your organization.
Batch Source
Select Loans. You identify Loans bills in Oracle Receivables by this batch source.
Note: In Oracle General Ledger, the batch source for journal entries that are created for loans transactions is Oracle Loans.
Payment Term
Principal Transaction Type
Select the Receivables transaction type for use when billing loan principal amounts. See: Oracle Receivables Setup.
Bill Generation Timing
To indicate when you want Loans to generate bills for all active loans, enter the number of days before the installment due date.
Note: When submitting the LNS: Billing program, this system option populates the To Number of Days to Due Date parameter of the billing program.
Interest Transaction Type
Select the Receivables transaction type for use when billing loan interest amounts.
GL Date Timing
Enter the number of days after the payment due date to indicate the GL date for Loans transactions.
The GL date is the payment due date plus this number of days.
Fee Transaction Type
Select the Receivables transaction type for use when billing loan fee amounts.
Activity Name
Select the Receivables activity name for the automatic receivable adjustment created when an existing receivable is converted to a loan. This system option is required only if your organization creates loans from receivables (loan class is ERS).
The activity name must have the following parameters:
Activity Type: Adjustment
GL accounts set up
Status: Active
Loans recommends that you use the seeded activity name, Loan Conversion, for audit tracking purposes.
Select the Receivables activity name for the automatic receivable adjustment created when portion of billed principal amount is forgiven.
Select the Receivables activity name for the automatic receivable adjustment created during loan cancellation process.
Enter the default debit accounting flexfield for Fee Receivable. You can enter only one account. All fees automatically generated by Loans use this debit account.
For each combination of loan class and loan type that your organization creates loans for, you must define GL accounts. You must set up accounting whether you create Direct loans or Extended Repayment Schedule (ERS) loans.
A loan manager can update the default accounting when working with a specific loan in Origination up until the loan becomes active. After a loan is active, no accounting changes can be made. See: Viewing Accounting.
Oracle Loans uptakes subledger accounting to generate accounting entries for the business events associated with the loan process. Accounting events are created when an ERS loan is approved and when a Direct loan is approved, disbursed or canceled. Accounting entries are also created when loan payments are billed. See: Accounting for Loan Payments.
Note that when payments are received for a loan, Oracle Receivables generates the accounting distributions through the receipt application process.
To review the default accounting for a loan, use the Accounting area on the Origination tab. See: Viewing Loan Accounting.
Note: You must be familiar with your organization's chart of accounts in order to set up accounting for loans correctly. If you inadvertently select a non-postable or parent account when setting up accounting, journal posting will fail.
Select Direct Loan class and a loan type for the accounting setup and click Create.
Enter GL accounts and distribution percentage for Loan Approval.
Enter GL accounts and distribution percentage for Principal and Interest Billing.
Select ERS class and a loan type for the accounting setup and click Create.
Enter the Replacement Natural Account for loan booking.
Enter a GL accounts and distribution percentage for principal and Interest Billing.
Related Topics
Validation for Loan Accounting
To properly account for a loan, you must set up GL accounts according to the following validation rules, before you can approve a loan.
The account code combinations for Loan Receivable accounts in Loan Approval must be identical to those in Billing.
The distribution percentage for Loan Receivable accounts in Loan Approval and Billing must equal 100%.
The distribution percentage for Loan Clearing accounts in Loan Approval and Billing must equal 100%.
You may have multiple Loan Receivable accounts but only one Loan Clearing account (ERS loans).
The code combination distribution percentage for each Loan Receivable in Loan Approval must equal the distribution percentage for each Loan Receivable in Billing.
You can set up only one Principal Receivable account and one Interest Receivable account.
You can distribute interest income across multiple GL accounts.
The distribution percentages for Interest Income must equal 100%.
Loans uses accounting derivation rules to establish accounting distributions when a loan is created.
If a loan application is created for existing receivables from a public sector installation of Receivables that is multi-fund enabled, then Loans:
Derives the accounting distributions for the loan receivable journal entries by replacing the natural account segment from the original receivable transaction line with the natural segment set up in Multi-fund Account Derivation Mapping.
Derives the number of loans receivables accounts from the original receivable and establishes a corresponding number of distribution accounts for each unique receivable line account code combination with a balance greater than zero.
Derives the distribution percentages for the accounts from the original invoice's revenue line distributions, rounding to seven decimal places.
Uses these accounts and percentages when billing the loan.
Loans generates accounting information for events that occur during the lifecycle of a loan. The distributions are based on the accounting set up for the loan class/loan type combination associated with the loan. Loans generates an accounting event for each loan event and stores the accounting information that will be used by Oracle Subledger Accounting to create a journal entry for that event.
Important: Accounting distributions that a manager enters in the Accounting area on the Origination tab always take precedence over the accounting defaults that you enter in Setup. Loans re-derives the accounting distributions for accuracy when you approve a loan . For example, the original receivable amount may have changed since the application process began.
When you approve a loan application, Oracle Loans uses the Loan Creation accounts that you defined for the particular loan's combination of loan class and type to create the following accounting events:
Loan Approval for Direct Loans
Debit Loan Receivable
Credit Loan Payable
Loan Approval for ERS Loans
Debit Loan Receivable
Credit Loan Clearing
When you fund a direct loan, Loans uses the Loan Funding accounts that you defined for the particular loan's combination of loan class and type to create the following journal entries:
Loan Funding
Debit Loan Payable
Credit Loan Liability
When you generate a loan bill, Loans uses the Loan Billing accounts that you defined for the particular loan's combination of loan class and type to create the following journal entries:
Billing - Principal
Debit Principal Receivable
Credit Loan Receivable
Billing - Interest
Debit Interest Receivable
Credit Interest Income
Billing - Fee
Debit Fee Receivable
Credit Fee Income
Note: Define the credit for fee billing when you create a fee. See: Defining Loan Fees.
When you cancel a loan application, Oracle Loans uses the Loan Cancellation accounts that you defined for the particular loan's combination of loan class and type to create the following accounting events:
Loan Cancellation for Direct Loans
Debit Loan Payable
Credit Loan Receivable
Note: Loan Cancellation is for the entire loan amount for loans without distributions, and on amounts yet to be disbursed for loans with multiple disbursements.
Encumbrance Accounting provides the ability to have systematic control of the expenditure budget in General Ledger, reducing the risks of potential over expenditure.
Note: Encumbrance accounting applies only to Direct Loans. ERS Loans are not affected by this feature.
To enable Encumbrance Accounting for Loans, set up the following:
Set the profile option LNS: Encumbrance Enabled to Yes for the respective site, responsibility, or organization.
Under Accounting Setup Manager in GL, set the following:
The Budgetary Control Enabled flag to Yes.
The SLAM to Encumbrance Accrual or Encumbrance Cash.
In Encumbrance Accounting, the accounting happens at the following events:
Loan Approval
Loan Disbursement
Loan Disbursement Cancellation
Future Disbursements cancelled (For Open phase loan)
Loan Adjustment Approval
Loan Adjustment Reversal (Negative Amount)
Define the fees that your agents can attach to a loan application. Fee names must be unique within an operating unit.
When defining a new fee, indicate the category, fee name, start date, and currency. Additional parameters are available based on the fee category selected.
You can define fees for the following categories:
Memo (for ERS Loans only)
These fees are for reference only, and are not included when billing the loan. See: Preaccrued Interest.
For more information about the types of fees, see: Fees.
Define rules for a late charge to determine the grace period, minimum overdue amount, and whether the fee is calculated for overdue interest, principal, or principal and interest.
When selecting a billing option, you can bill the fee as due before first loan payment, at origination, with an installment, equally with installments, or recurring. Billing option changes based on the selected fee category.
You can update fee setup at any time.
You cannot delete a fee attached to an approved loan. You can end date fees that you no longer want to use.
If the fee amount varies from loan to loan, set up a fee with a nominal amount and allow updates to the fee amount. Loans agents can modify the fee amount in Servicing.
To attach a fee to a loan application, see: Fees.
Loans displays the fees that you attach to a loan in the loan's amortization schedule. See: Amortization and Viewing Current Amortization Schedule.
Every fee has one of the following calculation methods:
Fixed: Fee amount is fixed.
Variable: Fee amount is calculated as percentage of a predefined base amounts.
Custom: Fee amount is calculated by a custom procedure. It must have the following signature:
PROCEDURE MY_CUSTOM_FEE_CALC(
P_LOAN_ID IN NUMBER,
P_FEE_ID IN NUMBER,
P_INSTALLMENT IN NUMBER,
X_AMOUNT OUT NOCOPY NUMBER,
X_ERROR OUT NOCOPY VARCHAR2);
where:
P_LOAN_ID: Input Loan ID (passed by the system)
P_FEE_ID: Input fee id from lns_fees_all table (passed by the system)
P_INSTALLMENT: Input installment number (passed by the system)
X_AMOUNT: Returned fee amount value
X_ERROR: Returned error messageWhen you generate a bill for a loan, Oracle Loans uses the debit account you define for Fee Accounting in System Options, and the credit account you define in Fees when you create the fee, to create the journal entries for a fee. All fees debit the same fee receivable account, but you can define a different fee income account to credit for each fee you create. You can define only one credit account for each fee.
Note: You can update the credit account when you assign the fee to a loan. See Fees.
See: Accounting Events and Setting Up System Options.
If your organization creates loan applications for existing receivables (the funds were already disbursed), then you can optionally set up a memo fee for any interest that has already accrued on the receivable. to record for read only purposes.
See: Memo Fees.
Loan Product is a product offering that provides defaulted and mandatory characteristics that meet loan program rules including terms, index rates, conditions, fees, and disbursements. Loan products are tied to loan types and cannot be created until loan types are available. Also, you must set up rates, conditions and notifications before creating a loan product. Before creating a new loan product, you can search existing loan products and duplicate any match that suits your need.
Creating a Loan Product
To create a new Loan Product, login using the Loans Administration Responsibility and select Setup. Use the Focus icon to access the setup tasks for a specific operating unit. Click Create and perform the following steps:
Select a Loan Type
Enter a Loan Product name, Description and select Currency, Segment and Start Date.
In the Terms tab, specify the Requested Amount From. The Requested Amount To parameter lets you specify an optional upper limit to the amount the Loan Product can offer. If you want loan agents to be able to set the upper range amount when creating a loan application for this product, then leave this field blank.
Important: You cannot specify a requested amount range for ERS loans since Loans derives the loan amount from the receivables selected to convert to a loan.
The minimum duration of a loan is set by the Term From parameter. Selecting the Disable Update option disallows the loan agent from changing the loan duration. You can optionally set the Term To parameter. Leaving it unspecified allows you to offer a Loan Product without predetermined duration.
Enable or disable the Loans Forgiveness Program. Selecting the Disable Update option disallows the loan agent from making changes to the selection later.
Specify if you require loan approval and approval to cancel disbursements.
Note: Once set, both these fields cannot be updated.
In the Interest Rates tab, specify values for Index Name, Rate Type, Amortization Method, Days Formula, Payment Frequency, Interest Calculation Method, Allow Interest Only Payments, Reamortize On Disbursements, Reamortize On Overpayments, Charge Additional Interest On Unpaid Principal, Capitalize Interest, Charge Additional Interest On Unpaid Interest, Service Based On Approved Amounts, and Collateralized fields.
Additional Information: Select the Disable Update check box to disable loan agents from modifying a parameter when updating a loan product.
In the Conditions tab, add conditions for the loan product. Select Mandatory if a condition must be met before the loan application can be submitted for approval. You can add conversion conditions only to Construction-to-Permanent loan products.
Note: Adding conditions to a loan product is optional.
In the Fees tab, you can set fees to be paid by the borrower at origination or during the course of the active loan. Fees marked mandatory cannot be overridden by the loan agent. However, if it is marked Update Amount, then the amount can be modified by the loan agent.
Additional Information: The fees associated must be in the same currency as the loan product and from the same operating unit.
Note: A loan product can be created without any mandatory fees.
The Disbursement tab lets you configure the number of disbursement to be allowed for a particular Loan Product. You can set up multiple disbursement activities and optionally associate conditions and fees to be met before disbursing each installment. If you set fees and conditions to mandatory, only you or a user with administrator rights can modify it. Multiple disbursement is executed based on a disbursement schedule configured while creating a loan. For further details, see: Creating a Disbursement Schedule.
Note: If your Loan Type does not allow multiple disbursement, the loan release will be defaulted to Single Disbursement. The Disbursements tab is not available for ERS loan products.
Updating a Loan Product
If you are updating a loan product, the Class, Type, Currency, Segment and Start Date appear as read-only fields and cannot be edited. Changes to existing loan products are effective only for future loans. While you cannot delete a loan product, you can end-date it, which ensures your Loan Product is not assigned to new loans.
Duplicating a Loan Product
To create similar products you can duplicate a loan product instead of creating a new one. Search for the loan product you wish to duplicate and click Duplicate. Replace the "Copy of <Loan Product Name>" with a new name (if necessary). Enter a Description and Start Date. The new loan product inherits the loan class and loan type and cannot be changed. The Loan Product is set to Incomplete until all required details are entered.
The following table lists the extensible lookup types that Oracle Loans uses.
Define lookups for these types in the Oracle Loans Lookups window.
| Meaning | Type |
|---|---|
| Loan Purpose | LOAN_PURPOSE |
| Asset Quantity Type for Machinery and Equipment | ASSET_QNT_MACHINERY_EQUIPMENT |
| Asset Quantity Type for Class Other | ASSET_QNT_OTHER_ASSET |
| Asset Quantity Type for Class Real Estate | ASSET_QNT_REAL_ESTATE |
| Asset Quantity Type for Class Securities | ASSET_QNT_SECURITIES |
| Asset Quantity Type for Other | ASSET_QNT_OTHER_ASSET |
| Asset Classes | ASSET_CLASSES |
| Asset Reference Type for Machinery and Equipment | ASSET_REF_MACHINERY_EQUIPMENT |
| Asset Reference Type for Class Others | ASSET_REF_OTHER_ASSET |
| Asset Reference Type for Real Estate | ASSET_REF_REAL_ESTATE |
| Asset Reference Type for Securities | ASSET_REF_SECURITIES |
| Asset Reference Type for Others | ASSET_REF_OTHERS |
You can enable and manage customer access to Loans with the following settings:
Define a Customer Account Contact with Loans User Contact Role in Receivables:
Navigate to the Customers page under Oracle Receivables, Customers.
Search for and select the customer for whom the contact needs to be added.
Select the Account Number for the contact, click Details, and navigate to the Communications tab.
Create a new contact, or click the Details icon of an existing contact.
Under the Contact Roles section, add the Role of Loans User, and click Apply.
Define a FND User and Attach the Customer Account Contact:
Navigate to System Administrator and select the Define form under Security, User.
Define a new FND user with the required Loans responsibilities, and click Save.
The customer contact has only access to loans where this customer is primary borrower, co-borrower, or guarantor and based on global and local loan access levels.
There are three Loans Access Level settings which control access to a loan:
Full access level: Read and write (full) access to loan.
Read Only access level: Access to loan in read only mode.
No Access level: No access to loan at all.
Loans Access Level settings are controlled globally using the following profiles:
LNS: Borrower Default Access Level
LNS: Co-Borrower Default Access Level
LNS: Guarantor Default Access Level
For more information, see: Profile Options Owned by Oracle Loans.
Individual Loans Access Level settings are located on the Borrowers tab under Origination. If set, these overwrite the global settings. Loans Agent can control individual loan access levels using the Access Levels Details section. Use the Reset Access Levels button to remove all individual access level settings for all participants of the loan.