This function is used to enter and maintain information pertaining to the various Benefits that can be applied to a loan in the CLM system. Benefits are instruments which can be used to Cancel a loan, Defer payment of a loan (interest does not accrue), or Postpone payment of a loan (interest does accrue).
Before a given benefit can be applied to a loan, the appropriate benefit code MUST have been applied to the associated Note Type record's benefit options. A user cannot apply a benefit to a loan unless the benefit code appears in the associated Note Type record. Please refer to Note Maintenance for additional information on applying benefit codes to a Note Type record.
The Benefits Maintenance function is used to maintain the following information for each benefit type that is used within the CLM system:
General Information - Benefit type, code and description; usage months; processing flags
Ledger Account Information - the CLM ledger account numbers where various cost data will be written to.
This function is accessed by selecting the Benefit Maintenance function from the drop-down box that appears in the Navigation Bar. When the function is selected, the Office Management screen is updated as follows:
A listing of all Benefit Types that are currently in the CLM system is displayed, as shown in the example below. The user can select any of these Benefit Type records by clicking on the magnifying glass icon. Once a Benefit Type has been selected, its associated information can be updated, or the Benefit Type can be deleted from the system.
If there are no Benefit Type records in the CLM system, the following message is displayed:
The Add icon in the function bar is enabled, thereby allowing the user to add a new benefit type.
The Benefit Maintenance function enables the user to perform the following actions depending on their security profile:
Click on each of the above links for a more detailed description of each of these processing actions.