April 2024 Release Notes
1. Preface
This is a living document, and its contents may be updated often. Any changes to the contents of this document are listed in the Change record section. Make sure that you have the latest version for use.
The contents of this document are applicable to all the customers who have installed the latest version of Q2 OriginationApril 2024 release for the first time or have upgraded from an earlier version. You can access the release notes of the previous releases from the Q2 Customer Portal or the Q2 Lending Help Center.
1.1 Purpose of this document
This document provides information on the following for the April 2024 release:
1.2 Intended audience
The audience of this document includes business users, implementers, and system administrators.
1.3 Prerequisites for use
This document assumes a basic knowledge of the product concepts, the product release, and the Salesforce platform.
2. Installation information
Contact your Q2 Professional Services team or the Customer Success team for information on the package dependency and installation order of the packages required to install and set up the latest version of Q2 Origination.
3. Upgrade considerations
For information on the upgrade steps, see release-related steps in the Q2 Product Upgrade Guide.
4. New features and enhancements
This section briefly describes the new features and enhancements added in this release.
For a detailed description of the new features and enhancements, see the following guides published over the Q2 Customer Portal and the Q2 Lending Help Center.
Q2 Origination User Guide
Q2 Origination Administration Guide
4.1 Broker commission Feature (Jira ID: GD-8104)
Feature Description
Q2 Origination has introduced the Broker Commission feature in this release with the capabilities to configure, calculate, and display the broker commissions for Loan and Line of Credit (LoC) applications.
For CLO users only the Upfront type of commission calculation is supported.
Upfront Commission: Upfront commission is a one-time commission amount paid to the broker when the loan is initially disbursed. Upfront commission can be a percentage or a flat amount. The lender can set a variance (positive or a negative value) for each commission-able item at the contract level.
The users can view and calculate the commission and also configure how the commission is calculated.
The loan system's capability of calculating values for Top-up and Trail types remains unaffected.
Broker accounts can have a default commission plan applied at the account level, and those can be associated with multiple commission plans with one or more commission items associated with each of them.
At the application level, only one commission plan with one or more commission items can be added per broker.
4.2 Automated documents generation on accounts (Jira ID: GD-8025 )
Feature Description
As part of enhancing the Documents Generation on Accounts feature, we have made the following changes in the current release:
Allowing users to select the applicable account types (multi-select) on the Document Definitions enabling automatic generation of document categories based on the types.
This enhancement extends beyond account creation to include updates. The system now automatically detects changes at the account level and generates document categories if the Account Type field is updated.
This change aims to prevent unnecessary document generation for the account types that may not be relevant, such as brokers, partners, and so on. It also helps reduce associated storage consumption.
Despite this change, users retain the ability to select whether documents are generated across all accounts regardless of type or only for specific account types with the help of a custom setting.
4.3 Reorder Financial Statement tabs (Jira ID: GD-8107)
Feature Description
Q2 Origination now supports reordering of the financial statements tabs both at the Application and Account levels. This enhancement enables defining the order through configuration, ensuring that Financial Statements are displayed in tabs in the same configured order for a given account on both the Application and Account levels.
4.4 Display required Payment Amount from Repayment Schedule (Jira ID: GD-8108)
Feature Description
Q2 Origination now allows the users to select the first payment amount displayed from the repayment schedule, governed by a custom setting. This setting allows to display the Payment Amount with Non-Zero Principal as the first payment amount, which is particularly useful for interest-only periods at the beginning of the repayment schedule.
4.5 Covenant Expiry Date gets updated based on the latest Maturity Date (Jira ID: GD-8313)
Feature Description
Q2 Origination has been enhanced to synchronize the expiry date of covenants with their associated applications, ensuring that covenant expiry dates never exceed the latest maturity date of the application(s).
4.6 Added Application Number in the Email Templates (Jira ID: GD-8324)
Feature Description
Q2 Origination has been enhanced to include the application number in the Send Message to Backoffice User and Send Message to Portal User email templates.
5. Fixed issues
There are no fixed issues in this release.
6. Known issues
There are no known issues in this release.
7. New and modified objects
This section briefly describes the objects added or modified in this release.
For a complete list of the Q2 Origination objects, see the Q2 Origination Data Dictionary.
7.1 New objects
There are no new objects added in this release.
7.2 Modified objects
This following objects were modified in this release:
7.2.1 Account
An account is a standard object from Salesforce. It represents the Borrower.
The following table describes the field that is added to this object. This field is optional:
| Field API Name | Description | Field Type |
|---|---|---|
| clcommon__Commission_Plan__c | This field is used to add the default commission plan at the account level. | Lookup |
| clcommon__Broker__c | If this field is selected, the account is considered as a broker account. | Checkbox |
7.2.2 Org Parameters (genesis__Org_Parameters__c)
This object stores the custom setting defined at the org/user/profile level, which is used to drive the behavior of features that impact at the organization level.
The following table describes the field that is added to this object. This field is optional:
| Field API Name | Description | Field Type |
|---|---|---|
| genesis_Payment_Amount_With_Non_Zero_Principal__c | If this field is selected, it indicates the first Payment Amount on the application with a non-zero principal from the payment schedule. | Checkbox |
| genesis_Account_Based_Documents_Generation__c | If this field is selected, it indicates that document categories are generated based on the account types. | Checkbox |
7.2.3 Document Definition (clcommon__Document_Definition__c)
This object is used to define the documents that are needed for underwriting an application. It serves as a template that defines the document and where should the document be stored. For example, let's assume for processing a loan application, the lender needs to collect identity documents of the borrower like driver's license, tax statements, etc. Then driver's license would be configured as a document definition record in the system by the admin, representing that driver's license is needed from any borrower.
The following table describes the field that is added to this object. This field is optional:
| Field API Name | Description | Field Type |
|---|---|---|
| Account_Type__c | This field indicates the document definition based on the selected Account Type. | Text |
7.2.4 Party (clcommon__Party__c)
This object is used to store the details of the Party.
The following table describes the field that is added to this object. This field is optional:
| Field API Name | Description | Field Type |
|---|---|---|
| clcommon_Commission_Plan__c | This field represents the Commission Plan selected for the Broker party type. | Lookup |
7.2.5 Points (clcommon__Points__c)
This object is used for configuring points and storing calculated points.
The following table describes the field that is added to this object. This field is optional:
| Field API Name | Description | Field Type |
|---|---|---|
| clcommon_Party__c | This field indicates the Broker Party associated with the Point. | Lookup |
7.2.6 Vendor and program association (clcommon__Vendor_Program_Association__c)
Vendor (Broker Account) program (Commission Plan) association is a junction object that associates the Broker Account and the Commission Plan.
The following table describes the field that is added to this object. This field is optional:
| Field API Name | Description | Field Type |
|---|---|---|
| clcommon__Vendor__c | This field references the associated vendor. | Lookup(Account) |
8. New and modified REST APIs
There are no REST APIs added or modified in this release.
For a complete list of the Q2 Origination REST APIs, see Q2 Origination REST APIs Guide.
9. New and modified global methods
This section briefly describes the global methods added or modified in this release.
For a complete list of the Q2 Origination global methods, see Q2 Origination Global Methods Guide.
9.1 New global methods
The following global methods have been added in this release:
9.1.1 AccountDocumentCategoryClearJob
| Global Method/Webservice Method Name | Description |
|---|---|
| AccountDocumentCategoryClearJob | This newly added class implements a batch job (extends clcommon.BatchJob) responsible for deleting account-level document categories that do not satisfy the current document definition configurations. |
9.1.2 BrokerCommissionAction class
| Global Method/Webservice Method Name | Description |
|---|---|
| BrokerCommissionAction Class | This newly added class is used to insert the clcommon__Points__c records for a party based on the specific commission plan. |
9.1.3 MarkFieldsAccessibleJob
| Global Method/Webservice Method Name | Description |
|---|---|
| markFieldsAccessibleJob | This newly added class is used to enable the field-level read permission by passing the profile ID/permission set ID. |
9.2 Modified global methods
There are no global methods modified in this release.
10. Post 4.5000 release
Follow this section for the details on the issues fixed in the patches on the April 2024 release of the following packages:
Q2 Origination
CL Originate Skuid Extension
CL Common
11. Change record
| S.No | Change Date | Description of Change |
|---|---|---|
| 1. | April 19, 2024 | Published the release notes for the April 2024 (4.5000) General Availability release. |