13. Producer

Oracle Financial Services Lending and Leasing is capable to create and service direct as well as indirect Lease. Indirect Lease are generated through Producer Entities like Dealerships and Agents. It is essential to create and maintain such entities to enable incentive tracking and business development achieved through each entity.

Applications are sent to financial institutions indirectly through producer entities like dealers or agents on behalf of a customer. Specifying Producer details is mandatory while creating a application since the system associates a credit application with the producer entity which sent it, on the Application Entry, Underwriting, and Funding screens. When the credit application is approved and funded, the system associates the account with the producer entity.

The following three different status are defined for Producer Entities in OFSLL:

The producers are paid for their participation, either:

-or-

-or-

-or-

The Producer screen contains pages that enable you to maintain and administer producer compensation, compensation payments, charge back plans, and chargeback parameters.

While setting up Producer entities it is also essential to setup the Producer Cycles under 'Setup' in main menu. For more details, refer to Configuring Lending and Leasing guides.

While working with the Producer screen, you will primarily use the following sub tabs:

  1. Payment Details
  2. Tracking Attributes
  3. Contracts
  4. Comments
  5. Summary

The Producers screen completed during setup, can be used to view and maintain producer details.

The ‘Producers’ screen consists of the following tabs:

13.1 Producer Details tab

The Producer details screen allows you to record or edit basic information about the producer. You can set up dealers or producers for a company and branch. You can also set up a default underwriter and a default collector for a producer. The system uses this information in the origination work flow to select a queue.

The producer number, name, contact information, company and branch to which the producer is associated with, federal tax number, status, and license information can be stored in this screen.

13.1.1 Producer Details tab Extensibility

The Producer Details tab is a customizable tab in OFSLL in which you can enable new user defined fields (UDFs), disable /rename existing fields, allow or restrict access to UDFs, non-mandatory fields and also set the field as mandatory/non-mandatory for user input.

To facilitate such customizations, during product installation/upgrade there are additional 20 ‘Custom’ user defined fields provided by default along with ‘Base’ fields with the below combination in main Producer Details tab and its sub tabs.

The above user defined fields, also referred to as ‘User Defined Fields’ are to be basically enabled in Setup > Administration > User > Access > ‘Field Access Definition’ tab and access is to be provided in ‘Security User Access Definition Details’ sub tab for the field(s) to appear in Producer Details tab. The enabled fields can customized in the ‘Label Configuration’ tab available in Setup > Administration > System > Label Configuration screen.

For detailed information, refer to appropriate sections in Setup Guides.

Navigating to Producer Details

  1. On the Oracle Financial Services Lending and Leasing home screen, click Collection > Collections > Producers > Producer Details.
  2. The system displays the Producers screen.

To set up the Producer

  1. In the Producer Details section, perform any of the Basic Operations mentioned in Navigation chapter.

A brief description of the fields is given below:

Note

Field names in the Producer Details section may vary depending on the customization and additional fields introduced. Populate the field details accordingly.

Field:

Do this:

Producer #

Based on the system setup, either:

Specify the producer number

-or-

The system generates producer number.

Producer will be activated on the next system date (current system date + 1) and not on the start date.

Old Producer #

Specify the old producer number.

Name

Specify the producer name.

Company

Select the company from the drop-down list.

Branch

Select the branch from the drop-down list.

Start Dt

Select the producer start date by clicking on the adjoining Calendar icon.

End Dt

Select the producer end date by clicking on the adjoining Calendar icon.

Contact

Specify the producer contact.

Group

Select the producer contact group from the drop-down list.

Grade

Select the producer grade as per business processes from the drop-down list. The list consist of values which are used only for catego­rizing at the producer level and can be changed periodically as per business requirement.

Type*

Select the producer type from the drop-down list. The Group and Type fields help in setting up the pricing schemes on Pricing screen.

Status

Select the appropriate status from the drop-down list. The contents of this field can be linked to edits in Lease origination cycle so that only applications from Producers whose status is 'Active' can be funded.

Sales Agent

Select the sales agent associated with this producer from the drop-down list.

Underwriter

Select the default underwriter assigned to this producer from the drop-down list. Only users with a responsibility for an under­writer can be designated as underwriters for producers.

Funder

Select the users with responsibility as Funding Specialist, from the drop-down list.

Collector

Select the default collector or agent assigned to this producer from the drop-down list. (This will appear in the Collector field in Delin­quency Information section of Account Details screen on the Customer Service screen).

Fed Tax #

Specify the federal tax identification number. If the organizational parameter UIX_HIDE_RESTRICTED_DATA is set to Y, this appears as a masked number; for example, XXXXX1234.

Address section

Country

Select the country code from the drop-down list.

Address Line 1

Specify address line 1

Address Line 2

Specify address line 2

Zip

Select the zip code from the drop-down list.

Zip Extn

Specify the extension of the zip code.

City

Specify the city.

State

Select the state from the drop-down list.

Permission to call

Check this box if customer has provided permission to contact through the specified phone number. When selected, system auto validates this option against the phone number specified.

Permission to Text

Check this box if customer has provided permission to contact through text message.

Phone 1

Specify phone number 1.

Exnt 1

Specify phone number 1 extension.

Permission to call

Check this box if customer has provided permission to contact through the specified phone number. When selected, system auto validates this option against the phone number specified.

Permission to Text

Check this box if customer has provided permission to contact through text message.

Phone 2

Specify phone number 2.

Extn2

Specify phone number 2 extension.

Fax Prefix1

Select fax prefix number 1 from the drop-down list.

Fax1

Specify fax number 1.

Fax Prefix2

Select fax prefix number 2 from the drop-down list.

Fax2

Specify fax number 2.

E-Mail

Specify the producer mail address.

Loss Reserve Amount

Specify the loss reserve amount

Max Float

Specify the value of maximum float allowed for the Producer.

A Float represents the application sourced by the producer that is Funded and awaiting 'Title perfection' from the concerned authorities for marking lien. If you do not know the exact value but want to pro­vide a maximum float, then specify the value as 99999.

Remaining Float

System automatically displays the available number of floats by cal­culating the remaining float value based on 'Max Float' and Title per­fections under processing.

Enabled

Check this box to enable the product.

Subvention Participation Details

Subvention Par­ticipant

Check this box to maintain the producer as subvention participant

Collection Type

Select the collection type from the drop-down list.

Collection Fre­quency

Select the collection frequency from the drop-down list.

Refund Dis­bursement Method

Select the refund disbursement method from the drop-down list.

Region

Select the region of producer from the drop-down list.

Territory

Select the territory of producer from the drop-down list.

License Details

Valid From

Specify the date from when the producer’s license is valid.

Valid To

Specify the date till when the producer’s license is valid.
  1. Perform any of the Basic Actions mentioned in Navigation chapter.

Note

Oracle Financial Services Software recommends that you double-check the fax numbers (especially the 10 digit number) and email addresses you enter on this screen, since the system uses this information to send its system-generated underwriting decisions.

13.1.2 Payment Details

You can setup ACH as the payment mode for a dealer or producer on Payment Details sub screen. The Payment Details sub screen stores information regarding the payment mode, currency and producer’s bank details, such as bank’s name, routing number, account type, account number, BIC and IBAN. Once the details are updated the same has to be verified and approved in the payment details section before processing.

The dashboard of Oracle Financial Services Lending and Leasing displays all the producers whose payment details are either APPROVED or WAITING FOR APPROVAL in the ‘Producers Count By ACH Status’ section. You can click on the respective links to view the details in ‘Producers’ screen.

To complete the Payment Details

  1. Click Collection > Collections > Producers > Payment Details.
  2. In the Payment Details section, perform any of the Basic Operations mentioned in Navigation chapter.

A brief description of the fields is given below:

Field:

Do this:

Pmt Mode

Select the payment mode from the drop-down list.

Bank

Specify the ACH bank name.

Start Dt

Select ACH start date if payment mode is ACH. You can even select the date from adjoining Calendar icon.

Routing #

Specify the ACH bank routing number.

Account Type

Select the ACH bank account type from the drop-down list.

Account #

Specify the ACH bank account number.

Currency

View the currency of the Producer. System defaults the cur­rency depending on the Company or Branch selected for the Producer.

BIC

Select the Business Identifier Code from the drop-down list. The list displays the BIC codes defined in the system.

IBAN

Specify the IBAN (International Bank Account Number). IBAN is used for identifying bank accounts across national borders with a minimal of risk of propagating transcription errors.

Ensure that value entered satisfies the check-digit validation based on modulo 97. On save, system automatically validates the IBAN number length based on country code, characters, white spaces, and checksum. Validation is also done during posting non-monetary transaction (ACH Maintenance).

You can maintain the IBAN length and other details required as per the country code in the user defined table (Setup > Administration > System > User Defined Tables).

Note: IBAN for 'NL' country code (IBAN_FORMAT_NL) is defined by default with length of IBAN as 18.

Disbursement Currency

Select the disbursement currency from the drop-down list. System defaults the currency depending on the Company or Branch selected for the Producer.

Approval Detail section - When the payment details are approved, system auto­matically populates the following fields with the approver details along with the sta­tus as ‘Approved’. However on subsequent update, the details are reset till further approval and status is changed to ‘Waiting for approval’.

Approved By

View the user who has approved the payment details.

Approved Dt

View the date and time when the payment details were approved.

Status

View the status of producer payment details.

Perform any of the Basic Actions mentioned in Navigation chapter.

To Approve Payment Details

You can verify and approve the producer payment details defined by another user in the Producers > Payment Details section. You can either directly select the required record in the ‘Producers’ screen or sort the list of payment details awaiting approval using the Dashboard.

Before you proceed, ensure that you have approval rights assigned to your login. Else, contact your system administrator.

  1. To access the payment details to be approved, do one of the following:
  1. In the Producer Details section, select the required Producer. The payment details associated with the producer are displayed in the ‘Payment Details’ section.
  2. In the ‘Payment Details’ section, click Approve Payment Detail.

The payment details are approved and approver information is captured in Approval Detail section. Also on approval, the Dashboard counters in ‘Producers Count By ACH Status’ section are updated.

13.1.3 Tracking Attributes

The Tracking Attributes sub screen allows you to link information to a producer who is not tracked in the system, by default, however is part of company’s business practices.

To complete the Tracking Attributes

  1. Click Collection > Collections > Producers > Tracking Attributes.
  2. In the Tracking section, you can edit the parameter and Value details.
  3. A brief description of the fields is given below:

    Field:

    View this:

    Sub-Parameter

    View the sub-parameter details.

    Parameter

    View the parameter details.

    Value

    Enter the required value for the selected parameter.
  4. In the Statements Transactions section, view the following information:

    Field:

    View this:

    Effective Dt

    The statement transaction date.

    Transaction

    The statement transaction.

    Account

    The statement account number.

    Debit Amt

    The statement debit amount.

    Credit Amt

    The statement credit amount.

13.1.4 Contacts

The Contacts sub screen allows you to record information regarding contacts associated with a producer, such as employees at a dealership.

To complete the Contacts

  1. Click Collection > Collections > Producers > Contacts sub tab.
  2. On the Contacts sub screen, perform any of the Basic Operations mentioned in Navigation chapter.

A brief description of the fields is given below:

Field:

Do this:

Contact Type

Select the producer contact type from the drop-down list.

Name

Specify the producer contact name.

Phone

Specify producer contact phone number.

Extn

Enter phone number extension.

Fax

Enter producer contact fax number.

Enabled

Check this box to indicate this is a current contact.
  1. Perform any of the Basic Actions mentioned in Navigation chapter.

13.1.5 Comments

The Comments sub screen allows you to view and enter comments regarding the producer.

To enter a comment on the Comments

  1. Click Collection > Collections > Producers > Comments sub tab.
  2. In the Comments section, perform any of the Basic Operations mentioned in Navigation chapter.

A brief description of the fields is given below:

Field:

Do this:

Comment

Enter comment.

Comment By

Displays user id.

Comment Dt

Displays comment date.
  1. Perform any of the Basic Actions mentioned in Navigation chapter.

13.1.6 Summary

The display only Summary sub screen allows you to view summary information regarding the producer.

To view summary on the Summary

  1. Click Collection > Collections > Producers > Summary sub tab.
  2. In the Summary section, view the following information.

A brief description of the fields is given below:

Field:

View this:

Year Month

The year and month.

Total Apps

The application total status count.

Approved

The application approved status count.

Conditioned

The application conditioned status count.

Rejected

The application rejected status count.

Withdrawn

The application rejected status count.

Funded

The application withdrawn status count.

Amount

The application funded status total amount.

13.1.7 Title Status Summary

The Title Status Summary screen displays the various stages of titles of assets for applications sourced by the producer. The details are available for specific periods based on elapsed days like last 1 Day / 1 Week / 1 Month or by a specific date range.

To view Title Status Summary on the Summary

  1. Click Collection > Collections > Producers > Title Status Summary sub tab.
  2. Sort the list of statuses to be displayed based on elapsed days by selecting the ‘View Last’ option as 1 Day / 1 Week / 1 Month / By Date. When ‘By Date’ is selected, you can specify a date range (within 3 months) in ‘Start Dt’ and ‘End Dt’ fields using the adjoining calendar and click ‘Search’. View the following field details.

    Field:

    View this:

    New Status

    Displays lien status as 'New'

    Perfection Pro­cessing Status

    Displays lien status as either Sent for Perfection/ Sent for Re-per­fection

    Perfected Status

    Displays if lien status has 'Perfected Title'

    Release Process­ing Status

    Displays lien status as either Sent for Title Release/Re-sent for Title Release

    Released Status

    Displays lien status as either Service Requested/Pending Delete

    Hold Release

    Displays lien Hold Release status

    To be Released

    Displays lien status if ‘To be released’

    Closed Status

    Displays lien status if ‘Deleted’

    Exception Status

    Displays lien status as either Pending Lien Holder/ Pending DMV

    Lien Event Date

    Displays lien Event Date attached against each status.

13.2 Search Tab

A Search tab is available on the Producers screen to help locate producer information such as producer number, name, status, group, type, grade, and zip code maintained in the system. This is the information that is used on the Producer Details screen.

To search for a producer

  1. On the Oracle Financial Services Lending and Leasing home screen, click Collection > Collections > Producers > Search tab.

  2. In the Search Criteria section, use Comparison Operator and Value columns to enter search criteria you want to use to locate a producer.
  3. Click Search.

System displays the result in the ‘Search Results’ section at the bottom of the screen with the following details:

  1. Select the required record and click ‘Open’. The details of only that particular Producer is displayed in ‘Producer Details’ tab. However, system displays the producer details only for authorized users based on access/permissions defined in setup.

Note

When a single producer record is opened from Search tab, the ‘Producer Details’ tab en­ables a ‘Remove Filter’ option. Clicking on the same removes the filter criteria and displays all the producer records maintained in the system.

You can click Reset Criteria at any time to clear Comparison Operator and Values columns on the Search Criteria section.