If you enter a Y in Field 28 Product Detail, do you have to enter the product information?

Answer

After entering Y in the Product Detail field on Screen 01 of the application, Screen 28 in the Master Record is displayed. You should enter through all the fields on this screen. After entering a product code, the system will check the parameters of that product and default to the highest loan amount and LTV that this product will permit.

If the message "Loan amount exceeds max/min loan amount" is received, you'll need to check the following fields in your product setup:

1. Field 4 Max/Minimum loan amount for owner occupied loans.
2. Field 6 Max/Minimum loan amount for non-owner occupied loans.
3. Field 9 LTV for owner occupied loans.
4. Field 10 LTV for non-owner occupied loans.

If you receive the "exceeds max/min" message, a window will open and offer you four options:

1. <F6> will move the cursor to the top of the screen so you can enter correct data.
2. <NL> will compute the max/min permitted for the product type entered.
3. <SCF3> will allow access to the product (if security permits) to change the parameters of the product.
4. <F1> takes you out of the loan. This is not recommended. The loan information (P&I, term, LTV and APR) could still be wrong.