1. WFP User Guide
  2. Units
  3. Units Screen
  4. Payoff Quotes sub tab

6.2.4 Payoff Quotes sub tab

The Payoff Quotes section lists all past saved payoff quotes provided to the producer for paying off the unit selected in the top section. Payoff quotes appear in the reverse chronological order based on quote date.
To generate a new pay off quote
  1. On the Oracle Financial Services Lending and Leasing home screen, click WFP > WFP > Units > Payoff Quotes.
  2. In the Producers section, select the producer with the units you want to work with.
  3. In the Credit Lines section, select the active credit line with the units you want to work with.
  4. In the Units section, select the unit you want to work with.
  5. The Units Maintenance page’s New Payoff Quote section enables you to generate a new payoff quote.
    New Payoff Quote section enables you to compute the amount to be collected from producer in case the producer wants to repay loan before actual term of the loan is complete.
  6. In the New Payoff Quote section, enter the following information:

    Table 6-3 New Payoff Quote section

    In this field Do this
    Last Service Dt Enter the date when the unit was last serviced (required).
    Quote Dt View the payoff quote date (required).
    PayOff Amt Enter the payoff amount (required).
    Provided To Enter the name of the person to whom the payoff quote is provided (required).
    Last Accrual Dt Enter the last date when interest was accrued on the loan (required).
    PayOff Dt

    Enter the date when the producer wishes to payoff the loan (required).

    (Oracle Financial Services Lending and Leasing populates this field when you choose the Compute button) (required).
    Quote Amt Enter the amount actually quoted to the producer so as to payoff the loan.This could be the same as or different than the payoff amount (required)
    Balance Enter the outstanding loan amount (required).
  7. Click View to view in the Payoff Quotes section the payoff amount based on the balance due, last accrual date, last service date and payoff date.
  8. Choose Save Quote and Add to save the quote given to producer in the Payoff Quotes section on Unit Details page (Details link) and add a new record.
  9. Click Save Quote and Return to save the quote given to producer in the Payoff Quotes section on Unit Details page (Details link) and return to main screen.

Parent topic: Units Screen