After an application has cycled through the Line of credit origination process, it becomes an account. Account maintenance and collections tasks can be performed with Oracle Financial Services Lending and Leasing’s Deficiency screen.
The Deficiency screen enables you to view and manage all customer information in a centralized location to ensure data integrity and provide better service. Oracle Financial Services Lending and Leasing provides online real-time information about the applicant(s), contract, account balances, dues, transactions, call activities, and comments. Oracle Financial Services Lending and Leasing also supports back-dating of financial transactions till the account’s opening date.
An account is automatically activated when you fund the contract using the Funding main tab or convert from a legacy system.
A payment can be posted and reversed on the Payments screen.
After an application completes the Line of credit origination cycle and is funded or is ported into the system, it becomes an account and receives an account number. The system assigns account numbers using the following logic:
YYYYMMNNNNNNNX
where:
YYYYMM = contract date
NNNNNNN = serial number
X = check digit
The system sorts accounts using the NNNNNN portion only. That portion is referred to as the account ID.
There are two types of search available.
There are a number of different ways to load the customer details on Deficiency screen.
For details on how to search and load the customer or account details using Search screen, refer Search Using Customer Details section in Search Function chapter.
Most screens on the Customer Service screen contain the Account(s) and Customer(s) sections as a header. The Account(s) section provides a quick overview of an account by displaying its company, branch, account number, product, payoff amount and amount due, status, and oldest due date. The information on Customer Service screen always refers to the account selected in this section.
The Customer(s) section displays information about the customer(s) attached to the account. The information on Customer Service screen always refers to the customer selected in this section.
To view account details in the Account(s) and Customer(s) sections, open the Deficiency screen and load the account you want to work with.
On the Customer Service screen’s Account(s) section, you can view the information based on your selection.
For details on this screen refer Customer Service screen section in Customer Service chapter
Open the Deficiency screen and load the account you want to work with. By default the Customer Service screen opens the Summary tab.
For details on this screen refer Customer Service screen’s Summary tab section in Customer Service chapter
Open the Deficiency screen and load the account you want to work with. Click the Customer Service tab to view the sections under it.
With the Call Activities section, the system enables you to record details of all actions you performed regarding this account. This includes calls from the customer, calls you make regarding account, or changes to condition of the account. Entries in the Call Activities section are listed in reverse chronological order of follow-up date and are user-defined.
Each action and result has a code and description. The code for the call action and call result is what appears on Call Activity sub screen.
To record a call activity
For details on this screen refer Customer Service screen’s Customer Service tab section in Customer Service chapter
Open the Deficiency screen and load the account you want to work with. Click the Account Details tab to view the sections under it.
Oracle Financial Services Lending and Leasing enables you to view account details using Account Details sub tab.
In the Account Information section click View.
For details on this screen refer Customer Service screen’s Account Details tab section in Customer Service chapter
Open the Deficiency screen and load the account you want to work with. Click the Customer tab to view the sections under it.
Information gathered on the application entry process regarding the customer and customer’s address, employment data, and phone numbers appears on Customer Details screen. Using the Customer Service screen’s Customer Details tab, you can update or add to a customer’s address, employment information, or phone listing. All the information about the customer can be changed using Maintenance screen.
To view or edit customer information
For details on this screen refer Customer Service screen’s Customer Details tab section in Customer Service chapter.
Open the Deficiency screen and load the account you want to work with. Click the Transaction History tab to view the sections under it.
For details on this screen refer Customer Service screen’s Transaction History tab section in Customer Service chapter.
Open the Deficiency screen and load the account you want to work with. Click the Pmt Modes sub tab to view the sections under it.
If used, the ACH section displays information about automated clearing house and electronic fund transfers.
To view the ACH information screen
Click Pmt Modes tab, then click ACH sub tab.
For details on this screen refer Customer Service screen’s Pmt Modes tab section in Customer Service chapter.
The Deficiency screen enables you to record information about deficiency accounts i.e. accounts that are no longer collectable. You can create and track specific details on the status of the charged-off account for timely follow-up and analysis. You can also track each stage of the deficiency process based on its follow-up date and record information using the Details and Tracking sections.
The Add button enables you to create a new deficiency record with different start and end dates. You can also use the Deficiency Details screen to view the deficiency information. The Current field in the Deficiency Details section indicates the current bankruptcy details.
Note
To view the balance of a charged off account, click the Transaction History tab on Customer Service screen, then click Balances. On the Account Details screen’s Balance Group section, click Deficiency. For more information on Deficiency Balance, see Balances sub tab section in this chapter.
To enter deficiency details for an account
-or-
For details on this screen refer Customer Service screen’s Deficiency tab section in Customer Service chapter.
The Collateral screen displays information regarding any assets associated with an account. Collateral can be a vehicle, home, or something else, such as household goods. The Collateral screen contains the Home and Seller sub tabs.
To view the collateral details
For details on this screen refer Customer Service screen’s Collateral tab section in Customer Service chapter.
The Customer Service screen Bureau screen enables you to view credit bureau reports associated with the account that were pulled during Line of credit servicing for the account. You can also use the Bureau screen to create and pull additional credit bureau reports and view the results as a text only file.
To view an existing credit bureau report
For details on this screen refer Customer Service screen’s Collateral tab section in Customer Service chapter
The Review Requests page is primarily a work flow tool used to flag an account or an application for the attention of another Oracle Financial Services Lending and Leasing user and ask for feedback. It allows the system users to send and receive requests (including e-mail) commenting on a specific account or application.
In this chapter, you will learn how to compete the following tasks:
Note the following:
The Review Requests page contains the following sections:
The Query section enables you to filter records according to priority levels i.e.high, normal or low based on any of the following:
Query Options |
Descriptions |
Originator |
Displays the records of all the active review requests you created. |
Receiver |
Displays the records of all the active review requests you received. |
Both |
Displays all the review requests records you have created as well as received with the status other than ‘CLOSED’. |
View All |
Displays all the review requests records you sent and received, both active and closed. |
The Action section enables you to send, respond or close the review request.
Action Options |
Descriptions |
Open Application/Account |
Opens the application details page to review the request. (if you open it from origination it’s application and if from servicing den account) |
Send Request |
Sends a review request to another Oracle Financial Services Lending and Leasing user. |
Send Response |
Sends a response to a review request from another Oracle Financial Services Lending and Leasing user. |
Close Request |
Changes the status of review request to CLOSED and removes its record from the Review Request page. The status can be viewed by selecting ‘View All’ in the ‘Query’ section.
|
The Email section enables you to send an email to either originator or receiver of the review request which cannot be responded or replied back from email recipient.
Email Options |
Descriptions |
Originator |
Sends an email of review request information to the person listed in the Originator column on Review Request page. |
Receiver |
Sends an email of review request to the person listed in the Receiver column on Review Request page. |
The Comments section enables originator or receiver to specify additional information that needs to be sent with the request.
Comments From |
Descriptions |
Originator Comment |
Displays comments specified by the originator of review request at the time of creating a request. |
Receiver Comment |
Displays comments specified by the receiver of review request at the time of reviewing a request. |
System displays the priority and the number of requests ready for review, if any, for your user id at My Pending Review Requests By Priority section in the Servicing Dash Board window.
To review requests
In the Review Request record, the system displays all open review request you have received.
Fields |
Descriptions |
Originator |
The user id of the request originator. |
Priority |
The request priority: HIGH, NORMAL, or LOW. |
Receiver |
The recipient of the request. |
Account # |
The account number which needs review. |
Transaction |
The transaction selected. |
Reason |
The review reason. |
Status |
The request status. |
Date |
The date and time when the request was created. |
Originator Comment |
The comment by the originator which creating a request. |
Receiver Comment |
The comment by the receiver after reviewing a request. |
Note
If you click Open Account, system loads the account in review request and displays the Account Details page.
The Send Request button enables you to send a review request to another the system user. However, the Send Request button is enabled only if you have specified the receiver while creating a review request and have saved it.
To send a review request
The system sends your request to the recipient’s, where it appears on My Pending Review Request window in Dash Board with status Sent to Originator.
When you receive a review request, the system notifies you by creating an entry in My of Pending Review Requests By Priority section in Dash Board with the number of unseen messages. In the following example, one review request is waiting on the Review Request page.
To respond to a review request
The system displays the unread review requests in Review Request record.
The system loads the account on Customer Service screen and displays Account Details page.
The system sends your response to the originator, where it appears on Review Request page with status Return to Originator.
The recipient can view sent response by clicking Receiver or View All in Query section. (The request has a status as RETURN TO ORIGINATOR.)
It will remove the message from the Review Request section.
Back on the originator’s Review Request page, the message appears when Originator is selected in Query section. The request has a status as Return to Originator.
While system updates My Pending Review Requests By Priority section in the DashBoard to notify you about the new requests, you can also e-mail a review request to both the originator and a receiver, as applicable. The system will use e-mail address recorded for both the originator and receive in User Definition section in User page.
To e-mail a review request
-or-
The system emails the details of selected record to e-mail address recorded in user setup.
You can close a review request you created at anytime, regardless of status. However, you can only close review requests that have your user id in the Originator field. When you close a review request, the system removes it from Review Request record.
To close a review request
The system assigns the request as Closed and removes it from your Review Request record. The closed accounts can be reviewed anytime by selecting View All in the Query section.