How to remove Per Diem interest for HELOC and Construction Loans permanently in Encompass
While working with our clients on their LOS, questions often come up on how to help them make the system work more efficiently whether it be small workarounds or complex business rules. At times, we know the answer right away but some questions often take some research or even luck sometimes.
Here at SCA we have decided that as we come across ways to help you all we are going to put out a blog to some of the answers to these questions that we receive. This one today is for a question we received from an Encompass user that wanted the per diem interest to always be ‘0’ days for Construction and HELOC because even after removing the interest from the Itemization screen if you got out of the loan and went back in the field repopulates. So, in the interest of not having to remove this every time you enter the loan they wondered if it was possible lock it down so that it stayed at zero days.
Recently while working with a Client on their initial implementation our specialist from Ellie Mae helped us to build a custom business rule to remove the per diem interest permanently in a few easy steps.
First, a custom field must be made. You can use any field that you have open so in the following screen shots you will need to make the necessary changes using your Field ID #.
Next, you will need to add a Field Trigger.
1.Remember to use a naming convention so that others will understand what the rule does just by looking at the name.
2. Select all channels in which you would like the rule to apply
3. Select Yes – Apply this rule if and Advanced Conditions from the drop-down box. In the box to the right you must enter the advanced condition [1172] = "HELOC" or [19] = "ConstructionToPermanent"
4. Add a field event
Activation Type = Field value modified
Trigger Field ID we used Field 763 (estimated closing date) as the field trigger
Criterion = Any change in field value
Action Type = Run advanced code
Advanced Code
If IsEmpty([CUST07FV]) then
[682]=Month(DateAdd("m",2,[763]))&"/01/"&Year(DateAdd("m",2,[763]))
Fields.Lock("L245")
[L245] = ""
[332] = 0
End If
Remember you should always use your test environment when making any system changes and you should follow your company protocols for making changes and testing before updating your live environment.
I hope this was of some help to you all, if you have anything that you believe could be of any help to others and would like to forward them along we will release them in our blog. If you have any questions regarding your LOS please send us an email and we can see if we can help you or we can research for a future blog post if we find that it would pertain to a larger audience.
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