Conversion Setup

A Q2 Origination application can be directly converted to a CL Loan contract. An application can be converted in Partial Application, Approved, or Active-Good Standing status. You can also copy over child objects like the disbursement schedule along with the other application fields. 

The fields of the Application object in Q2 Origination are mapped to the fields of CL Contract in CL Loan using the Conversion Mapping option in the Origination Configuration page. For example, Interest Rate field of the Application object can be mapped to the Interest Rate field of the CL Contract object.

You can also create mappings for the interest rate schedule to be applied on the converted contract. CL Loan 2.3007 and later versions are configured to accept rate schedules from Q2 Origination applications for flexible and Line of Credit loans.