Assigning a lending product to a company

You must assign the lending product to a company so that it is available to the users in that company for creating contracts. If you assign the lending product at a parent company level, it becomes available to the sub or child companies automatically. You can explicitly remove the association with the required child companies in such a scenario.

If you remove the lending product's association with a company at a future date, you cannot create contracts for that product in that company. However, existing contracts are serviced as usual. For example, if a company wants to report on contracts by lending product, the existing contracts continue to have the lending product associated with them. That association is continued.

Prerequisites

The following is the prerequisite to assigning a lending product:

• A company is created.

Steps

Perform the following steps to assign a lending product to a company:

1. Log in to your Salesforce account.

2. Click Servicing Configuration.

3. Go to Product, Product Management.

4. Select Assign Lending Product To Company. The loan product assignment summary page is displayed.

5. Specify or click on the lookup icon, to select the Loan Product. 

6. Click Search to search for companies to assign the lending product to. The list of companies, both parent and child, are displayed.

7. Select the Select Company checkbox against the required company name. If you select a parent company, all its child companies also get selected by default. Remove the selection from any of these, if required.

8. Click Save. The lending product is assigned to a company and a confirmation message is displayed.