AutoPal makes it very easy to ensure that the correct settings are defaulted and applied upon creation of a new loan. This will ensure that your loans require very little configuration prior to calculation, and will make the creation process very simple and direct.
For an overview of the default options, please review the following article: Defaults – Overview
To access the “System Defaults” select the Settings > Defaults > System Defaults icons. Once selected you will be redirected to the following page:
The “System Default” options allow you to set defaults in three different categories. Using the drop-down menu in the upper right-hand corner allows you to select which default options you would like to set.
General System Defaults: Use these options to select what the defaulted loan type is for each loan category. Meaning, you can have different default settings for Automobile, Real Estate, Consumer, and Other type loans. Options include: Installment, Flooring, Credit Limit, Installment – Lease.
In the example above, you will notice the options menu expanded for “Automobile – Installment” type loans.
Loan Specific Defaults: Arguably the most important defaults in regards to loan calculation are made in this section. To select the Loan Specific Defaults, make your selection from the upper right hand corner:
Once on the page you will see the defaults displayed for each loan category, and loan type. Through these settings you can create different defaults for every combination of loan category and type, making it very easy to operate multiple lending types within AutoPal. Once you have made the selection of Loan Category, and Type, select the “Edit” icon to begin setting your defaults. For this example, we will be setting defaults for the “Automobile – Installment” loans. Once the “Edit” icon has been selected, you will be redirected to the following page:
Located on the left-hand side of the page you will see three sub-sections for your defaults, these are: Initial Setup, Loan Settings, and Escrow Options.
- Initial Setup: The “Initial Setup” options include all the sections of the loan initial setup. You will be able to default several of the fields in the loan creation process. Options include: Modification Settings, Loan Terms, Escrow Calculator, Advanced Configuration, and Late Fee Configuration.
Of particular importance in this section are the “Advanced Configuration”, and “Late Fee Configuration” sections. Simply make your desired changes to the options in this section, and select the Save icon to finalize the changes. Please note that you have the ability to save different sets of defaults for each loan type and category.
- Loan Settings: This tab allows you to set the defaults for the “Loan Settings” tab on newly created loans.
From this page you will be able to set the loan settings defaults for newly created loans. Of particular importance are the “Card Convenience Fee”, and “Loan Status / Sub Status” options. Once your selections have been made select the Save icon to finalize your changes.
- Escrow Options: The escrow options section allows you to set defaults for the “Escrow” tab upon creation of a new loan.
Defaults of particular importance in this section are the “Map Escrow Across Modifications”, and the “Escrow Payoff Setting”.
User Specific Defaults
The “User Specific Defaults”, are similar to the “Loan Specific Defaults”, but differ in the fact that they allow you to setup defaults in the “Initial Setup”, “Loan Settings”, and “Escrow Options”, that are assigned to a specific user, rather than on a company level. This allows you to have several different sets of loan creation defaults, that are then assigned to your users based on their role.
Once the “User Specific Defaults” have been selected all existing user default sets will be listed on the page. Located to the right of each option, is an edit and delete option, which can be used to ensure your list only include the default sets you would like.
By selecting the New User Defaults. Once selected, you will be greeted with the following screen:
You will notice that the options available on this tab are identical to those in the “Loan Specific Defaults” tab. The primary difference being once the defaults have been saved, you will see the default sets listed on the Settings > Defaults > System Defaults > User Specific Defaults.
To assign a “User Setting” default set to a user, select the Users > Servicing > Servicing User List tabs. From this point, select the “Manage” option to the right of the Servicing User you wish to assign the default set to.
Once the manage icon has been selected, you will be presented with the following options:
Simply select the desired user specific default settings under the “Loan Creation Defaults” section, and select the Save Changes icon to finalize the changes.