Process Enforcements
A Process Enforcement (PE) enables lenders to define enforcement on certain business processes. These enforcements may be driven by regulatory requirements or the lenders' business model.Lenders can define multiple PEs and identify them with unique names. Each PE has multiple parameters that define the scope of the PE, and a priority associated with it, which is used by the system to sequence it if multiple PEs are defined. For example, compliance to SCRA can be implemented as a PE in CL Loan. This PE is designed to comply with the federal requirement of the Service Members' Relief Act (SCRA), where, if any military service member is called on active national duty, his or her loan’s interest rates are capped at 6%. For this PE, the parameters Suspend Charges, Suppress Credit Reporting, Set Maximum Interest Rate to 6% are selected, and this PE is given the highest priority among all PEs.
PEs are defined in CL Common. A PE is associated to a specific borrower contact or account, and its parameters apply to all the contracts created for that contact or account. A single borrower can have multiple PEs associated with respective start and end dates. The start date can be a past date, current date, or future date. The end date can be blank to indicate that the PE never expires.
Applying a process enforcement involves:
Enabling the org for process enforcement setup
Executing the Apex class - to be done by customers upgrading from CL Loan 2.2001 or earlier to be able to use this functionality
Updating the Contact and Account page layout to add the related list for PE Details and custom button for Enable PE. In addition, add the custom button for Revoke PE in the PE details page.
Creating a process enforcement.
Applying a process enforcement at contact or account level, or through scheduled job.
Revoking or expiring a process enforcement through scheduled jobs. Revoking means expiring a PE on the current system date.
Refer to the following sections for more information on managing process enforcements.