| PublicationDate: 12/30/99 Summary: Adjusting Loan Amount Approved in EDExpress Version 5.4 Author: CPS - Central Processing System (CPS) TO: All EDExpress Direct Loan Users FROM: CPS Customer Service RE: Adjusting Loan Amount Approved in EDExpress Version 5.4 DATE: December 30, 1999 We wish to advise you of an issue regarding adjusting the loan amount approved and requested in EDExpress Version 5.4. Version 5.4 is currently resetting the loan status and the promissory note status from a status of "A" (Accepted) to a status of "R" (Ready to Send) when you answer "Yes" to the question "Recalculate Anticipated Disbursements?". This will also happen when you change the loan period code. In either case, this issue will only occur if there are NO actual disbursements posted to the record. If actual disbursements are posted to the record, the software will not incorrectly reset the loan and promissory note status codes in the situation noted above. This issue will be resolved in the upcoming EDExpress service release, Version 5.4.1. To prevent changing the status from "A" to "R" when adjusting the loan please do the following, depending on the record's situation: 1) If the loan amount approved and requested is increased, Version 5.4 will prompt you with the question "Recalculate Anticipated Disbursements?". Click on the "No" button and then save the record. Then, go to the Disburse tab and manually change the gross amounts of the anticipated disbursements and save the record. Check the status of the loan. Export the change to the Loan Origination Center (LOC). 2) If the loan amount approved and requested is decreased, Version 5.4 will automatically recalculate the anticipated disbursements. To prevent changing the status of "A" to "R", first enter 0 in the loan amount approved and requested fields and save the record. Then, enter the new loan amount approved and requested and click on "No" for the question "Recalculate Anticipated Disbursements?". Manually enter the anticipated disbursements gross amounts. Check the status of the loan. Export the change to the LOC. 3) If the loan period dates or the anticipated disbursement dates need to be changed, do not change the loan period code. Change the dates of the loan period and the anticipated disbursements in the date fields. Check the status of the loan. Export the change to the Loan Origination Center. We apologize for any inconvenience this issue may have caused you. If you need any assistance, please contact CPS Customer Service at 1-800-330-5947, option 4, or via email at CPS@NCS.COM. |