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Credit Bureau Reporting For Residual Value (Balloon) Loan In OFSLL (Doc ID 2860256.1)

Last updated on APRIL 02, 2022

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  
---------------
For RV loans we need to include the balloon payment information in the K4 segment of the credit reporting file. This is not available in the OFSLL product and needs to be added

 

EXPECTED BEHAVIOR
-----------------------
System should report balloon payment under K4 segment for RV loans

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Create a RV loan with balloon payment amount

2. Run the Billing and Metro-2 batch process

3. Then run the Metro-2 output file generation

4. Verify the Balloon payment amount under K4 segment

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, bank unable to report the balloon payment to credit reporting

 

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution
References


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