1. Loan Origination Setup Guide
  2. Product
  3. Commission

4.16 Commission

The Commission screen allows you to calculate dealer commissions for additional products (for example, life insurance and disability insurance) for loans sold by the dealer and entered in the Itemization sub screen during loan origination. You can setup the various commission plans, which you use or select during funding.

In addition to the criteria, you can also define the insurance itemization, as well as the commission itemization for which the plan is valid.

You can select one of the following two system-defined methods to calculate the commissions:
  • Flat amount
  • Percentage of itemization amount.
To set up the Loan Commission Plan
  1. On the Oracle Financial Services Lending and Leasing home screen, click Setup > Setup > Administration > User > Products > Commission > Loan.
  2. In the Commission Plan Definition section, perform any of the Basic Operations mentioned in Navigation chapter.

    Figure 4-18 Commission


    Description of Figure 4-18 follows
    Description of "Figure 4-18 Commission"

    A brief description of the fields is given below:

    Table 4-49 Commission Plan Definition

    Field Do this
    Code Specify the commission code.
    Description Specify the commission plan description.
    Start Dt Specify the start date associated with the commission. You can even select the date from the adjoining Calendar icon.
    End Dt Specify the end date associated with the commission. You can even select the date from the adjoining Calendar icon.
    Enabled Check this box to enable the compensation plan.
    Results section
    Calculation Method Select the commission calculation method as either Flat Amount or Percentage of Itemization Amount from the drop-down list.
    Value Specify the commission value.
    Commission Itemization Select the commission itemization from the drop-down list.
    Selection Criteria section

    IMPORTANT:

    When you select commission to use, the system searches for a best match using fields in this section. Hence, Oracle Financial Services Software recommends creating one version of each compensation where ALL is the value in these fields when you have the option.
    Company Select the portfolio company associated with the commission, from the drop-down list.
    Branch Select the portfolio branch associated with the commission, from the drop-down list.
    Billing Cycle Select the billing cycle associated with the commission, from the drop-down list.
    Product Select the product associated with the commission, from the drop-down list.
    State Select the state associated with the commission, from the drop-down list.
    Currency Select the currency associated with the commission, from the drop-down list.
    Pro Group Select the producer group associated with the commission, from the drop-down list.
    Pro Type Select the producer type associated with the commission, from the drop-down list.
    Producer Select the producer associated with the commission, from the drop-down list.
    Grade Select the credit grade associated with the commission, from the drop-down list.
    Amt Specify the minimum itemization amount associated with the commission.
    Term Specify the minimum insurance, warranty term associated with the commission, from the drop-down list.
    Asset Class Select the asset class associated with the commission, from the dropdown list.
    Asset Type Select the asset associated with the commission, from the drop-down list.
    SubType Select the asset sub type associated with the commission, from the drop-down list.
    Asset Make Select the asset make associated with the commission, from the drop-down list.
    Asset Model Select the asset model associated with the commission, from the drop-down list.
    Age Specify the asset age associated with the commission.
    Ins/Warranty Itemization Select the insurance or warranty itemization associated with the commission, from the drop-down list.
  3. Perform any of the Basic Actions mentioned in Navigation chapter.

Parent topic: Product