Changing a Mortgage Loan 

Use

You make any changes you wish to an application, contract offer or contract that has not yet been disbursed.

You can also make changes to a contract that has been disbursed. However, you require special authorization to make changes to the conditions. If you do not have the appropriate authorization, the system merely displays the conditions when you call up the functions to change them. You can still change condition details that do not affect the financial structure of the loan, such as payer/payee data and posting data in the condition items and application data, contract data and notice data in the condition header without special authorization.

If you back-date changes to conditions that affect the cash flow, the system only takes changes to planned records into account. If the postings have already been made (actual records) the changes have no effect. In order to apply the back-dated condition changes to the condition-related flows that have already been posted, you must reverse the actual records. The reversal turns the actual records into planned records, which are automatically adjusted when you make changes.

See also: Mortgage Loan Processing.

Procedure

  1. Choose Transaction Management ® Mortgage Loan ® Application/Contract Offer/Contract ® Change.

    2. The Change Application/Contract Offer/Contract: Initial Screen appears.

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

    3. The Change Application/Contract Offer/Contract screen appears.

  3. You can now make changes or additions to any existing data for the application, contract offer or contract on all the tabs under Basic data, Conditions, Objects, Collateral and Correspond.

    4. You can also branch to the following:

    1. Partner overview
    2. Payment details
    3. Regulatory reporting

      4. If a loan has already been disbursed and you have activated Regulatory Reporting for loans given for the contract, you can only make changes to the premium reserve fund list by means of a balance sheet transfer. This allows you to reconstruct which loan was included in which premium reserve fund in the past.

    4. Display/calculate cash flow
    5. Account statement
    6. Total commitment
    7. Loan summary
    8. Generate correspondence
    9. File
    10. Change documents
    11. Release history
    12. Object links
  4. Save your changes.

 

The steps for changing an application, contract offer or contract are the same as for creating an application, contract offer or contract. For more information, see Creating a Mortgage Loan.