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Outstanding Loan Balance at the time of foreclosure is passed as zero in Form 1099A (Doc ID 2681206.1)

Last updated on JUNE 17, 2020

Applies to:

Oracle Financial Services Lending and Leasing - Version 14.8.0.0.0 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
Outstanding Loan balance at the time of foreclosure is passed as Zero in FORM 1099A

EXPECTED BEHAVIOR
-----------------------
System should populate the Outstanding balance at the time of foreclosure

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Run the batch process SET-GOV2 --> IRS 1099-A PROCESSING

2. Verify the output file and the values.

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, Bank cannot share the report to credit bureaus

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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