If you use Oracle Loans, you can use the Loans tab to view information about all loans for a customer or other view shown in the Collections header.
You can access the Loans tab from within Advanced Collections, as a loans servicing agent, to view loans with a status of current, delinquent, or in default. You can also use the Collector's Work Queue to track strategy work items for delinquent loans or broken promises.
From the Loans tab, you can:
Click Transaction Details to view the details for all invoices or debit memos billed for a loan. Select a transaction from the drop down list. You can view only open transactions, not paid transactions. From Transaction Details, you can process a dispute or enter a payment.
Click Payment Processing to process a payment for a loan.
The Transactions tab displays Loans invoices in the list of transactions. The loan number appears in the Transaction Number column.
Suggestion: Rearrange the columns in the dynamic table to display the loan number at the beginning of the table so you can quickly find a loan. Save your new configuration.
Suggestion: If the lending organization generates multiple invoices and/or debit memos each month for principal, interest, and fees, sort transactions using the transaction number (loan number) and due date. This groups all transactions for a loan and due date so you can quickly find a specific transaction.
You can also navigate to Transaction Details and Payment Processing. See: Processing Payments.
If a delinquent loan cannot be resolved, you can initiate later-stage collections activities such a litigation, bankruptcy, and repossession. Later-stage delinquency activities are performed at the transaction level. You cannot write off a loan in Advanced Collections, but you can make adjustments or create credit memos in Oracle Receivables.
On the Lifecycle tab, select a loan number.
Click New Status and select a new status for an individual loan transaction.
Enter the information for the new status.