1. Loan Collection Setup Guide
  2. Product
  3. Letters

4.11 Letters

The Letters screen allows you to define letters that the system automatically generates when the application or the account for a products meets certain conditions, or trigger events. Each letter has its own trigger event. For example, you can configure the system to automatically send a welcome letter when an application becomes an account or send a collection letters when an account becomes delinquent.

The system supports the following types of letters:

Table 4-33 Types of letters

Type of letter Definition
ACCOUNT STATEMENT Generated when account is to receive a billing statement (this time is defined in contract setup). Letter is sent to customer.
ADVERSE Action letter Generated in nightly batch jobs for applications that were declined. This letter is sent to the consumer to indicate the reasons why the application was declined.
CONDITIONAL ADVERSE Generated in nightly batch jobs for applications that were declined.
ACTION LETTER This letter is sent to the consumer to indicate the reasons why the application was declined. This letter also indicates steps that the consumer may take to gain approval of the application.
COLLECTION LETTER 1 Generated when an account becomes delinquent. This is the first dunning letter sent to the customer.
COLLECTION LETTER 2 Generated when an account remains in delinquency for an extended period. This is the second dunning letter sent to the customer.
COLLECTION LETTER 3 Generated when an account remains in delinquency for an extended period, even after having received previous notices. This is the final dunning letter sent to the customer.
CONTRACT FUNDING fax/ email Generated when an application is APPROVED: FUNDED or CONDITIONED: FUNDED. This letter is sent to the producer.
DECISION FAX/ EMAIL Generated when an application is APPROVED, CONDITIONED, or REJECTED. This letter is sent to the consumer or producer, depending on whether the product is a direct or in-direct loan.
PAID IN FULL LETTER Generated in nightly batch jobs when the account pays off. This letter is sent to the customer.
PAYOFF QUOTE LETTER Generated when a payoff quote is created for an account. This letter is sent to the customer.
WELCOME LETTER

Generated when an application is APPROVED: FUNDED. This letter is sent to the consumer.

STATEMENT PAST MATURITY Generated when an accounts are matured but unpaid.

This letter is sent to the account holders as a reminder to make their payments.
When the system generates letters, it searches the Letters screen for letter definitions that meet the following criteria:
  • Definition is enabled.
  • Definition is an exact match of the letter code being generated.
  • Definition is a match of either the application/account value or ALL for all other criteria.

Exact matches for each field are given a higher weight than matches to ALL.

The returned rows are then given a descending rank based on the weighted values and the hierarchical position of these fields:
  1. Company
  2. Branch
  3. Product
  4. State
  5. Currency

On the ranked rows, the first row is returned as the best match.

To set up the Letters
  1. On the Oracle Financial Services Lending and Leasing home screen, click Setup > Setup > Administration > User > Products > Letters > Loan.
  2. In the Letter Definition section, perform any of the Basic Operations mentioned in Navigation chapter.

    Figure 4-11 Letters


    Description of Figure 4-11 follows
    Description of "Figure 4-11 Letters"

    A brief description of the fields is given below:

    Table 4-34 Letter Definition

    Field Do this
    Letter Code Specify the code for the letter.
    File Name Specify the file name of the Oracle report used to generate the letter. The file should be named <File Name>.rep on your server.
    Letter Type Select the type of letter you want to generate from the drop-down list.
    Channel Select the application source (channel) for the letter from the drop-down list. This may be ALL or a specific channel.
    Enabled Check this box to enable this letter definition.
    Result section
    Batch Printer Select the batch printer being used to generate the letter from the drop-down list.
    Batch User Select the user who will submit this letter from the drop-down list. This will normally be set to BATCH.
    Selection Criteria section
    Company Select the portfolio company for which this letter will be used from the drop-down list. This may be ALL or a specific company.
    Branch Select the portfolio branch for which this letter will be used from the drop-down list. This may be ALL or a specific branch. This must be ALL if in the Company field you selected ALL).
    Product Select the product for which this letter will be used from the drop-down list. This may be ALL or a specific product.
    State Select the state for which this letter will be used from the drop-down list. This may be ALL or a specific state.
    Currency Select the currency for which this letter will be used from the drop-down list. This may be ALL or a specific currency.
  3. Perform any of the Basic Actions mentioned in Navigation chapter.

Parent topic: Product