Loan Purpose Code Configuration

Overview

Loan Purpose Codes are essential for tracking and reporting loans within the FLEX system. These codes are assigned to a loan during the loan origination process. This document outlines how to configure and manage these codes.

Accessing Loan Purpose Code Configuration

The Loan Purpose Code Configuration is located under the System Administration section in the FLEX Main Menu.

• Navigation Path:
  • FLEX Main Menu
    • System Administration
      • General Configuration
        • Configuration
          • Loan Purpose Code Configuration

Managing Loan Purpose Codes

Upon accessing the “Loan Purpose Code Configuration” screen, a list of all existing loan purpose codes will be displayed. From this screen, you can perform the following actions:

• Add New Loan Purpose Code: Click the Add button to create a new loan purpose code.
• Edit Existing Loan Purpose Code: Highlight an existing loan purpose code from the list and click the Edit button.
• Copy Existing Loan Purpose Code: Highlight an existing loan purpose code from the list and click the Copy button to create a duplicate that can then be modified.
• Delete Loan Purpose Code: Highlight an existing loan purpose code from the list and click the Delete button.

Fields for Loan Purpose Code Configuration

When adding or editing a loan purpose code, you will interact with the following fields in the “Edit Loan Purpose Code” window:

• Purpose Code:
  • Description: Enter a two-digit alphanumeric code that uniquely identifies the loan purpose.
• Description Lengths:
  • Description Length 4: Enter a short description (up to 4 characters) for the purpose code.
  • Description Length 6: Enter a slightly longer description (up to 6 characters) for the purpose code.
  • Description Length 10: Enter a medium-length description (up to 10 characters) for the purpose code.
  • Description Length 16: Enter the longest description (up to 16 characters) for the purpose code.
  • Usage: These varied descriptions are utilized throughout the FLEX system where descriptions of security codes are displayed, ensuring appropriate display length for different contexts.
• Active:
  • Description: This checkbox indicates whether the loan purpose code is currently active and available for use in the system.
  • Functionality:
    • Checked (☑): The loan purpose code is active.
    • Unchecked (☐): The loan purpose code is inactive.

Saving and Cancelling Changes

• Save: Click the Save button to apply any changes made to the loan purpose code.
• Cancel: Click the Cancel button to discard any unsaved changes and return to the previous screen.