Maintained for Historical Purposes

This resource is being maintained for historical purposes only and is not currently applicable.

Adjusting Loan Amount Approved in EDExpress Version 5.4

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.

Last Modified: 12/29/1999