Delete a Party

Prior to this release, when a party associated with an application was deleted, the associated tasks, documents, and policy conditions were not deleted for that application. But with the Spring'22 release, Q2 Origination is enhanced to support the deletion of the party and its associated records.

The deactivateParty API can also be used to deactivate the party by setting the Active flag of the party to false and archive tasks and policy conditions. To know more about the deactivateParty API, see Q2 Origination Administration Guide > deactivateParty.

When a party associated with an application is deleted, the following actions are performed on the records associated with that party:

• If an application is locked for editing, you cannot delete a party.
  

• When a user adds the deleted party via an existing relationship, the system displays the following error on selecting the Save button:
  Party with this account is inactive, please add a new relationship.
  

• Documents:

  • All the document categories created for the Account and Application combination are archived. These document categories are not displayed on the Documents page. 

  • If documents are uploaded against the deleted party, those are stored in the database. If the re-use document functionality is enabled for these documents, they are displayed in the Account Document structure.

  • No new document category is created for the deleted party.

  • Only active parties are considered while evaluating the document rules.
    

• Tasks:

  • All tasks associated with the deleted party are archived. This also includes the completed tasks of previous stages. The party tasks in the current stage with status as completed/open must also be archived. These tasks should be visible on the Task History page.

  • The archived tasks are displayed on the Archived Task page.

  • No new tasks are generated for the deleted party.

  • Only active parties are considered while evaluating the task generation and resolution rules.
    

• Parties:

  • On the Parties page, all the data sections such as Geocode, Party Address, Party Details, Deposits and Loans, Relationship Graph, etc., on the PARTIES page are not displayed for the deleted parties.
    

• Policy conditions:

  • All policy conditions (irrespective of the status) associated with the deleted party are archived, and no new policy conditions are generated for the same party. The archived policy conditions are not displayed on the Exceptions page. This applies to both enhanced policy conditions and old policy conditions.

  • Only active parties are considered while evaluating the policy condition generation and resolution rules.
    

• Financial statement spreading:

  • On the Financial Spreads page, the deleted party is not displayed in the "Account" picklist.

  • No changes to UCA Cashflow, Global DSC, or Sensitivity Analysis.
    

• Collateral owner:

  • If the party to be deleted is the owner of the collateral, the system notifies the user to delete the collateral before deleting the party. The system displays the following error: Party cannot be deleted as the party is the collateral owner. Please delete the collateral before deleting the party.

• Collateral analysis:

  • The deleted collateral is not displayed on the Collateral Analysis page.
    

• Covenant:

  • The covenants added for the deleted party are not displayed on the Covenants page.
    

• Exposure:

  • Exposure (active loan contracts, other loan applications originated) for the deleted party is not displayed on the Exposure page.

  • Only active parties are considered while calculating exposure.

• Risk analysis:

  • No change on scorecard generation functionality (Scorecard to be regenerated manually).

  • Only active parties are considered while generating the scorecard.
    

• Party level DTI:

  • On the Debt To Income page, the deleted party is not displayed.

  • Only active parties are considered while calculating the combined DTI and proposed DTI.

  • Only active parties are considered while evaluating the Rules using DTI.

Prerequisites

Before you proceed to delete a party, ensure that the following prerequisite is met:

• The collateral to which the party is an owner should be deleted.

Steps

To delete a party:

1. Select the icon to delete a party associated with the application.
   

   The Delete Party window is displayed to confirm the deletion.
   

2. To proceed with the deletion of the party, select Yes, Continue.