Follow-up Date Default Rules
LMS's follow-up dates can help you when to make collections efforts on your loans. Some companies use promises to accomplish this, but follow-up dates can be automated. This helps you easily build your collections list by searching for loans in the loan manager that have today's date as a follow-up date. From the loan manager, you can perform any action from the data options list, including loading the list to the collector queue, sending emails, generating billing statements, exporting to a CSV, and generating custom forms.
The basic intent of the native rules that control follow-up date is to ensure that follow-up date is always the day after the borrower's next due date, if they have a scheduled AutoPay, or today if the loan is past due and no arrangement has been made. These are the default rules, which means they can be changed to fit your needs.
The background rule can be added to Rule's Applied to help automate your follow-up dates. We generally add this rule to newly-created tenants, but it might not be in your system if you were a LoanPro customer before they were added. If you would like to add these rules, please contact your Success Specialist.
Once active on your tenant, these rules run automatically without any user input. It updates your follow-up date in three scenarios:
(and (not(empty? next-autopay-date)) (>= (u/date-compare next-autopay-date current-date) 0) (not= (u/date-compare settings-followup-date next-autopay-date) 1))
If there is currently an AutoPay scheduled and the next AutoPay will run on a date in the future of today, the follow-up date will be set to the day after the date on which the next AutoPay will run, if it's not set to that date already. If the next AutoPay is part of a series of AutoPays, once it processes, a future AutoPay will be scheduled. The follow-up date will then be set to the day after that payment is scheduled to run. If AutoPays are successful, the follow-up date will always be in the future.
(and (or (= settings-followup-date "") (nil? settings-followup-date) (> (u/date-compare current-date settings-followup-date) 0)) (>= status-days-past-due 1))
If the follow-up date is not set, or is in the past and the loan is past due, the follow-up date will be set to the current date.
(and (>= (u/date-compare current-date settings-followup-date) 0) (= status-days-past-due 0))
If the follow-up date is in the past or today and the loan is not past due, the follow-up date will be removed. As soon as the loan becomes past due, Scenario 2 will apply, and the follow-up date will be set to the current date.
User Input Adjustments
In addition to the background rule, individual users can update follow-up rules. They can either edit it directly, or as part of an Actions & Results note.
A user can click the follow-up date link in the loan header, or edit the loan settings to adjust the follow-up date manually.
Select a date from the calendar and click 'Save'.
Action & Results Adjustment
When you create Actions & Results, you can specify how a result will affect the follow-up date by choosing the number of days in the future that the date will be set. If an agent logs an action and result, either directly, or through a process wizard, the follow-up date will be adjusted accordingly.