Use the
Products > Create Product page to add products to the system.
| Note: Before adding product details such as variable rates and fees, make sure that you have added entries to the Rates and Fees tables. If you use the
Decision Module with the
Application Processing Module and you add a new product type, you must modify the
Decision Module to contain the rules for the product type or you will encounter an error.
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In the administration navigation pane, click
Products.
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Click
Create.
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Enter a code and name for the new product that you are adding.
Product code must be unique within a LOB template.
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Select a product category type from the
Category drop-down list.
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(Optional) Enter a description for the product being added.
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Select a model category for the product.
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Select a loan payment and rate type for the product.
(These values are controlled by the corresponding domain values.)
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If the rate type is fixed, you must enter an interest rate for the product in the
Rate Amount field. If the rate type is variable, you must click
Select and select a rate table for the product in the
Select Rate window that appears. This window is pre-populated with data entered from the
Rates page.
You can only assign one rate.
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In the
Duration field, enter a from and to date, or select one using the calendar widget.
The
from date
is the date the product is considered active. You can set this to the current date or a future date. The
to date
is the last date the product is considered active.
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Enter the maximum and minimum amounts or limits, terms (in months), and rates for the product.
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Enter a maximum debt-to-income ratio for the product.
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In the
Fees area, click
Add, select the fees to apply to the product, and then click
Add selected fees. This window is pre-populated with data entered from the
Fees page.
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In the
Other Details pane, enter information such as minimum monthly payment percent, cash advance rate and term, and introductory rate and term.
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Click
Create.
