NetLoan - Automatic Modifications

OVERVIEW

NetLoan has the ability to automatically update loan amortization schedules nightly (or at another scheduled interval) based on new, updated, or deleted NetLoan Payment and/or NetLoan Rate records without going through a formal modification process. This step is especially helpful for users with high volume or frequent payment and/or rate changes. 

STEP BY STEP PROCESS

1. Turn on the automatic modification feature in NetLoan

  • Navigate to NetLoan > NetLoan Setup > System Setup
  • Under the System Features tab, check the box next to "automatic modifications" and Save

    2. Fill out a template for the information you want to update/import

    • Fill out the appropriate information on the NetLoan Modification Upload - Payment or NetLoan Modification Upload - Rate templates
    • Export file type and convert format to a .csv

NetLoan Modification Upload - Payment

NetLoan Modification Upload - Rate

Import into NetLoan by navigating to Setup > Import/Export > Import CSV Records 

  • Import Type: Custom Record
  • Record Type: NetLoan Payment or NetLoan Rate

Hint: If you get an upload error, be sure to check empty cells for blank/invisible data!

  • Data Handling: Add 
  • Run Server Suitescript and Trigger Workflows: Checked
  • Map the corresponding fields from the template to the NetSuite fields, and click Next
    • Note: Make sure Concatenated Name field is mapped to the Loan (Req) field!
  • If desired, save as a Saved Import by entering an Import Map Name and selecting Save and Run
    • Note: Saved Imports are viewed by navigating to Setup > Import/Export > Saved CSV Imports
  • Confirm that all the records have been imported successfully by navigating to Setup > Import/Export > View CSV Import Status

3. Schedule the deployment of the automatic modifications script

  • Navigate to Customization > Scripting > Scripts and click "View" next to the Netloan - Schedule MR script
  • Click the "Deploy Script" button
  • Make sure the "Deployed" box is checked
  • Change the status to "Scheduled" 
  • Fill out the Schedule subtab according to need
  • Save
  • The script will now be added to your scripting queue on the date and time selected in your schedule. 
  • Once the script is processed, the NetLoan amortization schedules will update and payment or rate changes will be reflected therein. 
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