Setting up a document category (Old documents management)

With the Deal Room Document Category option, you can classify the different documents that form part of application processing based on their purpose and time of use.  This is used for old documents management.

A document category is a hierarchical way for categorizing documents to meet a specific requirement for originating and underwriting an application. Each document category in the Deal Room represents document sets or documents that need to be collected to process some aspect of a funding application. One document can be associated with one or more document categories.

In a document category, you can define the metadata for the document that needs to be collected. This includes details about the document, who is responsible to upload it, who will review it, what is the priority of getting this document, is the document an optional one, and what is the category of the document. For example, you may categorize all the tax related documents of a Party under a document category called Tax Returns, and then create sub-categories for individual years such as Tax Return for 2012, Tax Return for 2013, and Tax Return for 2014. These tax return documents may require to be uploaded by the Loan Officer once collected from the borrower (physically or via email) and be reviewed by the Underwriter.

Using the Associations, you can associate document categories to CL products. For example, you can define the Product Document Category Association to associate one or more products with a document category. You can associate only parent document categories to a product. Its child categories are automatically linked.

As an administrator, you can see the complete list of document categories, the list of documents within each category, and the status of the documents, for an application. Administrators can also see the total number of documents required for an application versus the number that has been submitted, approved or rejected. Other users can see this information for the document categories they are associated with and need to work upon. 

Prerequisites

The following are the prerequisites to setting up a document category:

• A Party is set up.

• Tasks are set up if you want to associate a task setup with the document category.

Steps

Perform the following steps to configure a document category:

1. Log in to your Salesforce account.

2. Go to Origination Configuration > Deal Room and Dashboard Setup, Deal Room Setup.

3. Select Document Category.

4. Select New Document Category.

5. In the New Document Category page, specify the following information:

   1. Specify a Category Name. For example, Tax Statements.

   2. In Applicable For, select Party. 

   3. Provide a detailed Description of the document category so that any person referring to the category can understand what documents need to be attached within it.

   4. Select the Generation Status to indicate at what stage of the application flow is the document category applicable. For example, Tax Statements may be required at the time of credit decisioning. If you do not specify a value, the documents are included when the application is created.

   5. Select the Responsible Party Type that must provide the necessary documents for this category during application processing. 

   6. Select the Send Notification check box to send email notifications to either the Responsible party or Reviewer whenever an action is required at their end. 

   7. Select the Required check box if the document is required in the process of due diligence. When selected, the document is mandatory.

   8. Specify the Parent Document Category. For example, Borrower Financials may be the parent category for Tax Statements. This enables you to set up a document category hierarchy if needed.

   9. Select the Review Assigned To (Party Type). This is the party type of the application that should review the document.

   10. Specify the Priority of the document category. This can be High, Low, or Normal.

   11. Select the Create Task check box to create a task for the related party when this document has to be uploaded or reviewed, or for any other action that you may specify for the document category.

   12. Specify the Child Object API Name if any data has to be captured and recorded, and the name of the API that does it.

   13. Select the Task Setup if users do not act through the Deal Room page but take actions on a different page or application, at the end of which the document gets automatically attached to the respective category.  

   14. Select Save. to configure the document category.

Field reference