Oracle Financial Services Lending and Leasing enables you to perform escrow analysis with the Escrow Analysis and Disbursement screens’ Analysis and Analysis Maintenance tabs and perform escrow disbursement with the Disbursement Entry and Disbursement Maintenance tabs.
The Escrow Analysis page enables you to analyze accounts involving escrow disbursement. Accounts are analyzed in batches, or ‘analysis groups’. The system generates a batch number for the analysis group and sets the batch status to Open. You can view and process the accounts included in the analysis group and exclude the erroneous account from an analysis group. Also, you can perform an escrows analysis for a period between two to twelve months. By default, the analysis horizon is selected as twelve months from the date of analysis.
To enter an escrow analysis batch
A brief description of the fields is given below:
Field: |
Do this: |
Company |
Select the portfolio company. |
Branch |
View the portfolio branch. |
Date |
Specify the batch date. |
Analysis Type |
Select the analysis type. The analysis type (Initial Escrow Analysis Disclosure, Regular, Compliance, and so on) is a list of user-defined values. |
Batch # |
View the system generated batch number with a format of ANA-yyyy-ddd-seqnum. |
Batch Status |
View the batch status. |
Processed Dt |
View the user analysis process date. |
Processed By |
View the user who processed the analysis. |
Field: |
Do this: |
Title |
View the account title. |
From Date |
Specify the from date (start analysis from MM/DD/YYYY). Note: From date has to be the first date of the month. |
To Date |
Specify the to date (end analysis at MM/DD/YYYY). Note: To date has to be the Last date of the Month. |
Comment |
View the comment. |
Status |
View the payment status. |
The system performs the analysis and changes the batch status to PROCESSING.
If the system successfully processes the batch, it changes the batch status to processed. The individual accounts will all have a status of New. The analysis group can now be viewed on the Escrow Analysis Maintenance page.
If the system is unable to process one or more individual accounts in the batch, it changes the batch status to errored. One or more of the individual accounts will have status of error in the Accounts section. The reason of the error appears in the Comment field.
To reprocess an analysis batch with a status of ERROR
The Escrow Analysis Maintenance (Analysis Group) page enables you to review and maintain escrow analysis for each account in a selected analysis group (batch).
With the Escrow Analysis Group tab, you can:
An escrow analysis for a batch may retrieve more than one account. These accounts appear in the Escrow Analysis section, along with the:
The system then enables you to:
To view the Analysis Group page
Field: |
View this: |
Company |
The portfolio company. |
Branch |
The portfolio branch. |
Date |
The batch date. |
Analysis Type |
The analysis type. |
Batch # |
The system generated batch number. |
Batch Status |
The batch status. |
Override Stop Analysis |
Override stop analysis indicator. |
Processed Dt |
The user analysis process date. |
Processed By |
The user who processed the analysis. |
Reviewed Dt |
The user analysis review date. |
Reviewed By |
The user who reviewed the analysis. |
Approved Dt |
The user analysis approved date. |
Approved By |
The user who approved the analysis. |
Reviewing the Analysis Result
To review the analysis results for a selected batch
To approve the analysis
To cancel the analysis
On the Escrow Analysis page, the batch you cancelled now has a status of cancelled in the Analysis Group section.
To re-analyze escrow analysis
Field: |
View this: |
Date |
The date. |
Account # |
The account # and title. |
From Dt |
The escrow activity from date. |
To Dt |
The escrow activity to date. |
Status |
The status of the analysis. |
Opening Bal (Act) |
The opening balance actual amount. |
Opening Bal (Est) |
The opening balance estimated amount. |
Cushion Type |
The cushion type. |
Cushion Value |
The cushion value. |
Cushion Amt |
The cushion amount. |
Results section |
|
Std Pmt Amt |
The standard payment amount. |
(+) Esc Pmt Amt |
The escrow payment amount. |
(+) Spread Pmt Amt |
The spread payment amount. |
(+) Other Pmt Amt |
The other payment amount. |
= New Pmt Amt |
The new payment amount. |
Surplus/Shortage section |
|
Surplus/Shortage Amt |
The surplus shortage amount. |
Refund Amt |
The refund amount. |
Approval section |
|
Approval Dt |
The approval date. |
Approved By |
The user id of who approved the analysis. |
Field: |
View this: |
Escrow |
The escrow. |
Disbursement Rule |
The disbursement rule. |
Yearly Amt |
The yearly amount. |
Field: |
View this: |
Txn Dt |
The transaction date. |
Transactions |
The transactions. |
Vendor |
The vendor name. |
Txn Amt |
The transaction amount. |
Bal Amt (Est) |
The balance amount estimated. |
Bal Amt (Act) |
The balance amount actual. |
Choose: |
The system displays: |
Current Estimated |
The current estimated analysis. |
Last Estimated |
The last estimated analysis. |
Last Actual |
The last actual analysis. |
To delete an individual analysis
The system changes the Status field in the Parameters section to DELETED.
As an alternative to selecting an analysis group and then selecting an account, use the Escrow Analysis Maintenance (Accounts) page to directly view an account. You can then use the Escrow Analysis page to re-analyze or delete an escrow analysis following the same steps described previously in the Escrow Analysis Maintenance (Analysis Group) section of this chapter.
To view an escrow analysis for an account
Field: |
View this: |
Account # Title |
The standard payment amount. |
Analysis Type |
The escrow payment amount. |
Analysis Dt |
The spread payment amount. |
Current |
If selected, indicates that the information is up-to-date. |
Field: |
View this: |
Date |
The date. |
Account # |
The account # and title. |
From Dt |
The escrow activity from date. |
To Dt |
The escrow activity to date. |
Status |
The status of the analysis. |
Opening Bal (Act) |
The opening balance actual amount. |
Opening Bal (Est) |
The opening balance estimated amount. |
Cushion Type |
The cushion type. |
Cushion Value |
The cushion value. |
Cushion Amt |
The cushion amount. |
Results section |
|
Std Pmt Amt |
The standard payment amount. |
(+) Esc Pmt Amt |
The escrow payment amount. |
(+) Spread Pmt Amt |
The spread payment amount. |
(+) Other Pmt Amt |
The other payment amount. |
= New Pmt Amt |
The new payment amount. |
Surplus/Shortage section |
|
Surplus/Shortage Amt |
The surplus shortage amount. |
Refund Amt |
The refund amount. |
Approval section |
|
Approval Dt |
The approval date. |
Approved By |
The user id of who approved the analysis. |
Field: |
View this: |
Escrow |
The escrow. |
Disbursement Rule |
The disbursement rule. |
Yearly Amt |
The yearly amount. |
Field: |
View this: |
Txn Dt |
The transaction date. |
Transactions |
The transactions. |
Vendor |
The vendor name. |
Txn Amt |
The transaction amount. |
Bal Amt (Est) |
The balance amount estimated. |
Bal Amt (Act) |
The balance amount actual. |
Choose: |
The system displays: |
Current Estimated |
The current estimated analysis. |
Last Estimated |
The last estimated analysis. |
Last Actual |
The last actual analysis. |
With the Escrow Disbursement Entry page, you can make payments on escrow from the system in the form of disbursement batches. Disbursement batches record the following information in the Disbursement Group section:
The Details section enables you record the following information for each escrow disbursement batch:
You can use the Escrow Disbursement Entry page to:
Note
You cannot cancel a posted batch. Hence temporarily place a disbursement entry batch on hold before validating or posting it.
A posted batch cannot be cancelled. Temporarily place a disbursement entry batch on hold before validating or posting it.
The Escrow Disbursement Entry pages enables you to view either all escrow disbursement batches or only open escrow disbursement batches. You can choose which type of batch you want to view using the View Options section. Viewing all batches enables you to locate escrow disbursement batches with a status of open, processing, processed, error, or cancelled.
To view open batches
To view all batches
To locate a batch with an error
To validate and post an escrow disbursement batch
A brief description of the fields is given below.
Field: |
Do this: |
Company |
Select the portfolio company. |
Branch |
View the portfolio branch. |
Date |
Enter batch date. Oracle Financial Services Lending and Leasing uses this date and the number of pre process days (if in use) to determine when to disburse the payment. |
Batch # |
View the system generated batch number with a format of dsb-yyyy-ddd-seqnum. |
Total # |
Enter total number of disbursements in the batch. |
Total Amt |
Enter total amount of disbursements in the batch. |
Batch Status |
View batch status. |
Total # |
View total number of actual disbursements in the batch. |
Total Amt |
View total amount of actual advances in the batch. |
The Details section records itemized information of the escrow disbursement batch. It enables you to make one payment for one account, or more than one payment to more than one account.
A brief description of the fields is given below.:
Field: |
Do this: |
Account # |
Specify the account number. |
Title |
View the title. |
Txn Dt |
Specify the disbursement date. |
Amount |
Specify the disbursement amount. |
Status |
View the status. |
Include |
Select to indicate this is an active record. |
A brief description of the fields is given below.:
Field: |
Do this: |
Escrow Type |
Select the escrow type. |
Sub Type |
View the escrow sub type. |
Vendor |
View the vendor. |
Reason |
Select the reason for the disbursement. |
Pmt Mode |
Specify the payment mode for the disbursement. |
Reference |
Specify the reference for the disbursement. |
Comment |
Specify any comments regarding the disbursement. |
The system updates the display only Total # and Total Amt fields in the Disbursement Group section to record the contents of the Details section.
When you want to post escrow disbursement batch on Escrow Disbursement Entry page, ensure that the contents of the display only Total # and Total Amt fields match with the contents of the required Total # and Total Amt fields in the Disbursement Group section.
The system changes the escrow disbursement batch status from Open to Processing and submits the batch to the job service. After the batch has been processed, Oracle Financial Services Lending and Leasing changes the its status to Posted or Errored.
If an escrow disbursement batch has a status of ERRORED, the accounts in the Details section with the status of ERROR must be excluded from the Disbursement Group before the batch can be posted.
When an escrow disbursement batch has a status of PROCESSED, the Post Batch button in the Action section is available.
The system changes the status for the accounts in the Details section included in the escrow disbursement batch to POSTED and creates an entry on the Disbursement Maintenance page.
The system also creates an entry for the escrow disbursement on the AP Requisitions page.
Only escrow disbursement batches with the status of Open can be put on hold.
To hold an escrow disbursement batch
The system changes the escrow disbursement batch status from Open to Hold.
Only escrow disbursement batches with a status of Hold can be opened.
To open or remove hold on an escrow disbursement batch
The system changes the escrow disbursement batch status from Open to Processing and submits the batch to the job service in the Disbursement Group section. After the batch has been processed, the system changes the its status to Posted or Errored.
If an escrow disbursement batch has a status of ERRORED, the accounts in the Details section with the status of ERROR must be excluded from the Disbursement Group before the batch can be posted.
When an escrow disbursement batch has a status of PROCESSED, the Post Batch button in the Action section is available.
The system changes the status for the accounts in the Details section included in the escrow disbursement batch to POSTED and creates an entry on the Disbursement Maintenance page.
Only the escrow disbursement batches with the status of Open, PROCESSED, Hold, or Errored can be cancelled.
To cancel an escrow disbursement batch
The system changes the Status field in the Details section to Void.
When you refresh the Escrow Disbursement Entry page, the escrow disbursement batch that you cancelled has a batch status of CANCELLED in the Disbursement Group section.
The Disbursement Maintenance page enables you to cancel escrow disbursement transactions.
To cancel the disbursement maintenance
Field: |
View this: |
Account # |
The account number. |
Title |
The title. |
Txn Dt |
The disbursement date. |
Amount |
The amount. |
Escrow Type |
The escrow type. |
Sub Type |
The sub type. |
Status |
The status. |
Include |
Include indicator. |
Company |
The portfolio company. |
Branch |
The portfolio branch. |
Batch # |
The batch number. |
Vendor |
The vendor. |
Reason |
The reason. |
Pmt Mode |
The payment mode. |
Reference |
The reference. |
Comment |
The comment. |
The system changes the status of the escrow disbursement to VOID.
To view the cancelled escrow disbursement on the AP Requisition page
The Search tab enables you to locate the accounts on which the escrow analysis is to be performed. You can select accounts for an escrow analysis using the following attributes in the Criteria column of the Search Criteria section. You can also configure the system to search other account attributes if required.
To search for an account
Field: |
View this: |
Account |
Specify the account number. |
Account Status |
Select the account status. |
Account State |
Select the state name where the account belongs. |
Account Last Escrow Analysis Date |
Select the date on which the escrow analysis was last performed on the account. |
Escrow Analysis Required Indicator |
YES: If selected, the system displays the accounts that require escrow analysis. NO: If selected, the system displays the accounts that do not require escrow analysis. |
Escrow Analysis Stopped Indicator |
YES: If selected, the system displays the accounts with the escrow analysis is allowed NO: If selected, the system displays the accounts with the escrow analysis is stopped. |
Product |
Specify the product name. |
Account Condition |
Select the account condition. |
The system displays the result of the search in the Results section at the bottom of the page.
Field: |
View this: |
Company |
The company. |
Branch |
The branch. |
Account # |
The account number. |
Date |
The account effective date. |
Title |
The account title. |
Product |
The product. |
Status |
The account status. |
Producer |
The producer. |
Secured |
If selected, the account has a customer classified as secured |
If you click Reset Criteria, the system clears the contents of the Search Criteria section and refreshes with the its default values.
To search for accounts that require escrow analysis