Transfer to Contract 

Use

If the decision-making function is not set to active for loans given, you can use the Transfer to contract function to convert an application directly into a contract. Once you have converted an application into a contract, the application itself is no longer kept in the system. This means that you cannot trace the contract back.

See also: Mortgage Loan Processing

Procedure

  1. Choose Transaction Management ® Mortgage ® Application ® Transfer to Contract.

    2. The Contract Acceptance from Application: Initial Screen appears.

  2. Enter the Company code and the Loan number and choose Enter. If you do not know the number of the loan, you can use the F4 possible entries function to search for the application (matchcode search).

    3. The Contract Acceptance from Application screen appears.

  3. Make any necessary changes.

    4. If you did not enter data in specific fields when the loan was in application status and if these fields are defined as mandatory fields for contracts, then the system automatically indicates that data has to be entered in these fields. The application cannot be converted into a contract unless these fields have been filled.

  4. Choose Save. The application is converted automatically into a contract. The system displays the status change at the bottom left-hand corner of the screen.