1. Loan Servicing User Guide
  2. Producer

14 Producer

Oracle Financial Services Lending and Leasing is capable to create and service direct as well as indirect Loan. Indirect Loan are generated through Producer Entities like Dealerships and Agents. It is essential to create and maintain such entities to enable incentive tracking and business development achieved through each entity.

Applications are sent to financial institutions indirectly through producer entities like dealers or agents on behalf of a customer. Specifying Producer details is mandatory while creating a application since the system associates a credit application with the producer entity which sent it, on the Application Entry, Underwriting, and Funding screens. When the credit application is approved and funded, the system associates the account with the producer entity.

When the credit application is approved and funded, system associates account with the producer.

The following three different status are defined for Producer Entities in OFSLL:
  • Active: Only if Producer Status is Active, the application sourced through that Producer Entity can be funded.
  • Inactive: If the Producer Status is Inactive, the application sourced through that Producer Entity cannot be funded.
  • Temporary: If the Producer Status is Temporary, the application sourced through that Producer Entity can only be reviewed. However it cannot be funded.
The producers are paid for their participation, either:
  • Up front during funding

    -or-

  • Up front on a monthly basis

    -or-

  • When the interest is earned

    -or-

  • When the payment is received from customer based on the set up compensation plans.

The Producer screen contains pages that enable you to maintain and administer producer compensation, compensation payments, charge back plans, and chargeback parameters.

While setting up Producer entities it is also essential to setup the Producer Cycles under Setup in main menu. For more details, refer to Configuring Lending and Leasing guides.

While working with the Producer screen, you will primarily use the following sub tabs:
  1. Payment Details
  2. Compensation
  3. Subvention
  4. Transactions
  5. Holdback/Loss Reserve
  6. Tracking Attributes
  7. Statements
  8. Contacts
  9. Comments
  10. Summary

The Producers screen completed during setup, can be used to view and maintain producer details.

The Producers screen consists of the following tabs: