Setting up a rule

Rules help you define the success and failure conditions that determine whether the requirements under a Checklist are met or not. The rule may mandate a specific document to be present or may compare values of certain variables in the application against defined benchmarks. Rule setup is applicable if you are using a non-Skuid enabled version of Q2 Origination. This setup must be seen in conjunction with Setting up documents. A rule may be associated with any product.  A rule validates the presence or absence of a requirement. Therefore, each rule can include only one criterion to be effective.

If you are using a Skuid-enabled version of Q2 Origination, you must set up rules on CL Products instead of lending products. For this, select the Use CL Product check box in the Org Parameters under Custom Settings. For more information on org parameters, refer to section Defining Org Parameters.

If you have upgraded to Q2 Origination 2.1003 or later versions, you can configure a tab in Salesforce to access existing lending products. However, you cannot migrate the rules that were earlier set on lending products into the upgraded Q2 Origination application.

Prerequisites

The following is the prerequisite to setting up a rule:

• Lending product, CL product, and Documents are set up.

Steps

Perform the following steps to set up a rule:

1. Log in to your Salesforce account

2. Go to Origination Configuration > Credit and Pricing Setup > Credit Setup.

3. Select Rules.

4. In the page that appears, select New Rule.

5. In the New Rule page specify the rule details:

   1. Specify a Rule Name. This must be a unique name. For example, you may create a rule by the name Credit Approval or FICO score.

   2. Specify the Object Type for which you are creating the rule. This must be Application. 

   3. Select the Enabled check box to enable the rule for all applications.

   4. Specify the Message (success) that is displayed if the rule criterion is satisfied. For example, Credit Score meets requirements.

   5. Specify the Message (failure) that is displayed if the rule criterion is not satisfied. For example, Credit Score does not meet requirements.

   6. Evaluation Expression

6. Select Save. The rule is created and the Rule Detail page is displayed where you can specify the rule criterion.

Defining a rule criterio

After you set up a rule, you must define the criteria for it. You must specify only one rule criterion per rule to retain the relevance of the success and failure messages. Each rule must therefore, include only one validation. 

Perform the following steps to define the rule criterion:

1. In the Rule Detail page, in Rule Criteria section, select New Rule Criteria.

2. Select the required Stipulation Type to indicate whether the rule is created around documentation requirements (Contract) or based on calculations and results (Funding). A different set of information is required to be provided based on the stipulation type.

3. Specify the Criteria Sequence. This is the sequence at which the criteria occurs in the rule definition.

4. If you select Funding as the Stipulation Type:

   1. Select the Related Object on whose fields the criteria is to be set. For example, Application. 

   2. Select the Field Name that is evaluated in the criterion. For example, select Gross Annual Income. The API that is called and the field value type is displayed automatically. The values displayed in the Field Name drop down depend on the related object selection.

   3. Specify the Lookup Object Field Name if you selected a lookup object in the previous step.

      For example if you selected Asset&Liability Info as the field, select its field that is to be evaluated. For example, Net Worth of Business. In this case, the criteria is set on the net worth of business of the borrower.    

   4. Specify the operator as the Matching Type by which the values are matched against the rule criterion.  For example, >, <, >=, or Between.  

   5. If you selected BETWEEN as the operator, specify the Minimum Value and the Maximum Value between which the object's value must lie. Else, specify the Matching Value. For example, the rule criterion may check if the gross annual income is greater than 50000. If the applicant's gross annual income is greater than 50000, the success message would be displayed, else failure message would be displayed.   

   6. Select Save.

5. If you select Contract as the Stipulation Type:

   1. The Related Object is predefined as Document(Status) and the Field Name is predefined as Attachment Name. You cannot modify these.

   2. From the list of documents, select the Document to associate with the rule. For example, for a rule called Income Proofs, you may define the stipulation type as Contract, and specify Salary Slip as the associated document. If the borrower's salary slip is attached to the application, a success message is displayed, else a failure message is displayed. If no documents are uploaded, the list is not displayed.

   3. Select Save. The documents appear as mandatory documents for the application. If these mandatory documents are not present in the application, you can view this information under the checklist.

Associating rule with a CL product

If you are using Skuid-enabled version of Q2 Origination, you can associate the created rule to an existing CL product. 

Perform the following steps to create the rule-product association:

1. In the Rule Detail page, in Product Rule Association section, select New Product Rule Association. If you do not see this section, you can customize the Rule Detail page layout to include this as a Related List.

2. Select the required CL Product to associate this rule to.

3. If you want to associate the product to a different rule, select the desired Rule.

4. Select Save to complete the association.

Field reference