A temporary repayment arrangement is a process that will temporarily override the borrower's regular billed amount for some period of time. This payment plan is defined by start and stop dates, the amount and frequency of payment. Setting up a TRA will also generate a TRA letter for the borrower and submit it to the Mail queue. Only one TRA can be in effect at any time.
Note: Temporary Repayment Arrangements affect both the Billing and Payment processing functions within CLM. Please investigate how those processes will be affected before applying or modifying TRAs.
This function is accessed by selecting the TRAs function from the drop-down box that appears in the Navigation Bar. When the TRAs function is selected, the Borrower Information screen is updated as follows:
The lower portion of the Contents Area is replaced by a listing of past, current and/or pending TRAs for the borrower, as shown in the example below. The user can select any of these TRAs by clicking on the magnifying glass icon. Once a TRA has been selected, the TRA information can be updated, or the TRA can be deleted from the system.
If there are no TRA records in the CLM for the borrower, the following message is displayed:
The Add icon in the function bar is enabled, thereby allowing the user to add a new temporary repayment arrangement for the borrower.
The TRA 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.