- Savings Account Origination User Guide (US Regionalization)
- Savings Account Origination
- Underwriting Stage
- Legal Opinion
2.7.3 Legal Opinion
This topic provides the systematic instructions to capture the legal opinion provided by the bank approved lawyer and decision provided thereon.
- Click Next from the previous data segment to proceed with the next data
segment, after successfully capturing the data.
The Legal Opinion screen displays.
- Specify the fields on Legal Opinion screen.
Note:
The fields, which mentioned as Required, are mandatory.If Oracle Banking Origination is integrated with Oracle Banking Credit Facilities Process Management, the Legal Opinion details will be fetched from integration service and the values will be displayed in the respective fields as read only data. In the absence of Oracle Banking Credit Facilities Process Management integration, the user has to capture the Legal Opinion details manually in this data segment.
For more information on fields, refer to the field description table.Table 2-29 Legal Opinion – Field Description
Field Description Collateral Description Displays the collateral description which is added. Collateral Type Displays the collateral type which is added. Category Displays the category of the collateral which is added. Collateral Value Displays the value of the collateral which is added. Owners Displays the owner’s name of the collateral. Collateral ID Displays the Collateral ID. Collateral Description Displays the description of the collateral. Liability ID Displays the Liability ID Liability Description Displays the Liability description. Opinion Type Select the opinion type. Available options are:
- External
- Internal
Agency Code Specify the agency code. Agency Name Specify the agency name. Legal Remarks Specify the legal remarks. Opinion Date Select the opinion date. Date should not be earlier than the Collateral Valuation Date. Add Opinion Click Add Opinion to add the legal opinion received from multiple agencies (both internal and external). Note:
All the fields will be fetched from Oracle Banking Credit Facilities Process Management in read only mode if integrated with Oracle Banking Credit Facilities Process Management. - Click Next to navigate to the next data segment, after successfully
capturing the data. The system will validate all mandatory data segments and
data fields. If mandatory details are not provided, the system displays an error
message for the user to take action. User will not be able to proceed to the
next data segment, without capturing the mandatory data.
All the fields will be fetched from Oracle Banking Credit Facilities Process Management in read only mode if integrated with Oracle Banking Credit Facilities Process Management.
Parent topic: Underwriting Stage