Capturing Loan Renewals

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- 09/15/2022 at 5:16 pm #897 Reply
  
  Candace Goss
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  It was recently identified that our reports/queries to capture loan renewals boarded on the system is not accurately identifying and capturing all loans. Our institution utilizes the Last Renewal Date (RENDT/LNMAST) to reflect the date of our loan documents however our reports need to pull based on the date the loan is boarded on the system (typically never the same date).
  
  Currently, to identify/capture loan renewals, our queries look to maintenance history to see if the Last Renewal Date field was updated during the time frame being searched. It was discovered that, in some cases, Jack Henry does not show maintenance history for the Last Date Renewed field being updated, and as a result the loans are not reflected on the report. Upon further testing, it was discovered this happens when a rate change is involved during loan renewal processing.
  
  The reports we need for renewals need to capture loans based on the date the loan is renewed on the system (boarded) and not by the Last Date Renewed field.
  
  I am looking to see if there are other ways FIs are capturing loan renewals based on the date they are boarded, and if there is any knowledge as to why a rate change involved with processing a renewal would result in a lack of maintenance history for the Last Renewal Date field. Any insight would be helpful. Thank you
- 09/28/2022 at 9:17 am #901 Reply
  
  Breanne Antich
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  Hi Candace,
  
  We have a Cognos report written to capture the renewal off of transaction code which includes the system renewal date in the report but we ran into issues with collateral documents/tax returns etc. expiring outside of the loan renewal.
  
  With Silverlake not having a tickler system for renewal tracking – we have recently designed a system in Synapsys that will track renewals and expiring documents for loans and the data is tracked off of Doc Date. We tried using Synergy Doc Tracking for this and it didn’t play well with the doc date field and Synapsys seems to be working well for us.
  
  I’d be happy to put you in contact with our team that built out the Synapsys doc tracking if Synapsys is something you have and are interested in learning more about how we set this up.
  
  Thanks!
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