Deleting the Rescission Indicator for Consumer Loan

Use

This function deletes the rescission indicator in loans that have been flagged for rescission but have not been repaid by the borrower within the payoff period, so that the loan can be returned to status Contract .

Note Note

You can only use this function for loans that are based on the product category Consumer Loans (340).

End of the note.

Integration

This function only processes loans that are disbursed, that have been run through the payment program and have been rescinded, in other words loans for which you have completed the following functions:

Prerequisites

You need to have defined the Payoff Period in Days for the underlying product under Start of the navigation path Business Operations Next navigation step Business Operation: Rescind Contract End of the navigation path . For more information, see Product .

Scope of Functions

  1. The system determines the loans in which the rescission indicator is set.

  2. In these loans the system determines the date by which the borrower must repay the rescission balance on the basis of the payoff period from the product.

  3. It checks whether the borrower has repaid the rescission balance on time on the basis of the incoming payment date.

  4. If so the system does not process the loan any further.

    If not, it deletes the rescission for this loan.

Activities

  1. In the SAP Easy Access menu for Loans Management choose Start of the navigation path Accounting Next navigation step Execute Postings Next navigation step Mass Processing Next navigation step Preparation Next navigation step Delete Rescission Indicator for Consumer Loan End of the navigation path .

  2. Enter your selection criteria and choose Execute.