Fees management

A fee in CL Loan is a charge that is associated with a lending product, such as, processing fee, or is applied to a borrower during the contract lifetime based on certain events, such as a late payment fee or early termination fee. These charges need to be defined before they can be associated with a lending product. Fees can be grouped under Fee Sets to facilitate their association to a lending product. A lending product in CL Loan can be a Loan, Amz Based Loan, Flexible Amz Loan, Line Of Credit, or Master Loan.

Setting up fees and fee sets is a prerequisite to creating a lending product in CL Loan.

To set up Fees and Fee Sets or to add a Fee to a Lending Product or a Contract, you must make sure that you have performed the following steps:

First define a Fee in the Servicing Configuration.
Create a new Fee Set in the Servicing Configuration.
Then link the Fee to the Fee Set.

Note:

For more information on defining a Fee and a Fee Set, see the Fees Management > Define a Fee and Fees Management > Define a Fee Set section of this guide.