How to set up Draft Mode
Draft mode will allow you to add a loan without finalizing it. The status of the loan will be DRAFT, rather than ACTIVE, and changes can be made to the loan, such as the Origination Date, Interest type, etc. Once all the parameters are final, it can be submitted for approval and when it’s approved, the loan status will change to ACTIVE and it will then be ready for servicing.
1) Go to global Setup > Loan Setup > Rules:
2) Click the Add button:
3) For Step 1, select "Execute loan approval":
4) Then click on the blue “loan approval” link shown underneath:
This will bring up a Result window in which you select the Users who will be responsible for the approvals
5) For Step 2, select “before loan is added” then click Next:
6) For Step 3, make sure that “where loan type is assigned…” is Unchecked then click Next:
7) For Step 4, give the rule a name like “Loan Approval" or "Draft Mode Rule":
8) Click Next and Finish, then restart NLS.
Note: When you complete this step, this new rule will already be “ACTIVE” so you will be able to create Draft loans right away.
9) This is how to use Draft Mode:
a. Input a new loan. The loan will be added with status of “DRAFT”:
b. In the HOME tab, find the Request Approval button and click it
c. You may enter a note for the approver, then click OK.
d. One of the users that has been designated as an approval user should query their Task Inbox. The approval request for this loan should be listed there.
e. They’ll need to click in the Result column down-arrow, and select APPROVED. Then they’ll need to click the Save button
f. The first user, meaning the one who created the approval request, could now re-query that loan. The loan should now have a Loan Status of ACTIVE.
Note: In order to disable the “Draft Mode” rule, you’ll simply need to go back to Rules and uncheck the "ACTIVE" checkbox then restart NLS.
