9.4 Specify Details for Normal Rollover

If you have chosen the rollover method as Normal, then you must enter the corresponding details for the rollover, in the Version Rollover screen (OLDRLOVR).

In case of normal rollover, the system either creates a new drawdown contract with a new contract reference number for the original one being rolled over (if the rollover mechanism specified is New Contract), or a new version of the original contract, with the same reference number (if the rollover mechanism specified is New Version).

You can specify the rollover instructions for a loan in the Version Rollover screen.

1. On the homepage, type OLDRLOVR and click next arrow.
   The Version Rollover screen is displayed.

   Figure 9-4 Version Rollover

   
   

   
   Description of "Figure 9-4 Version Rollover "

   
   
2. In the Version Rollover screen (OLDRLOVR) after contract creation, you can specify and modify the rollover instructions for both the new and rolled over contracts. After specifying the rollover details, you must save the contract.

   When you rollover the contract, the system completes the rollover process with the specified rollover instructions and creates a New Version for the ROLL event.

   To authorize the rolled-over contract, both versions (New Contract and New Version) created during the rollover have to be authorized simultaneously.

   By default, a contract is rolled-over with all the terms of the original contract. However, you can change specific terms on the Rollover Details screen while creating and modifying a contract.

   To specify the rollover instructions on the Version Rollover screen, perform the NEW action and select the the required active loan contract that needs to be rolled over. The rollover mechanism must be NEW Version for the underlying contract.

   When you specify the instruction for the rollover instruction booking date, the RAMD event is triggered on the contract. Additionally, the ROLL and REOP events are also triggered on the rollover value date.

   The following are the features of the Version Rollover screen:

• Value date of rollover
  
• Product for the next version
  
• Amount to be rolled over to the next version
  
• Other Loan Parameters for Next Version
  
• Mode of Roll-Over of a Contract
  
• Multiple Collateral/Pool Linkages to OL Contracts
  
• Applying Tax
  
• Specifying Charge to be Applied on the Rolled-over Amount
  
• Specifying the Schedule Basis for the rolled over contract
  
• Specifying whether New Components have to be Included
  
• Specifying whether Overdue Schedules should be liquidated
  
• Specifying the Maturity Type
  
• Specifying the Refinancing Rate for the rolled over Contract
  
• Reversal of Rollover