Rules Applied


Your company policies and procedures are likely unique.  In an effort to help automate as much of your company’s processes as possible, LoanPro provides the Rules Applied feature.  So, what is Rules Applied?  This is a way you can create your own list of conditions and then specify how a loan should change when a condition is met.  There are three things that need to happen in order for a loan to change based on a rule.  This article will cover those three things.

Restrictions — Rules Applied will only run on Live, Activated accounts. So if the account is not activated (there are some dependencies of activation, including the loan is setup (has values saved on it), or is archived then it will not run.


Let’s say that your company policy is that as soon as a loan has a payoff amount of $0.00, the loan status should be changed to paid off.  The next three sections will show how this can be accomplished.

Create a Rule

LoanPro uses the Clojure (pronounced like closure) language in order to create rules.  We do this for several reasons.  First, Clojure is a language that already existed and there are many online resources that can teach you about how to write a Clojure rule.  Second, Clojure complies to Java and so it’s a language that can run efficiently on our servers without the need for a custom-built compiler (nerd language for a program that reads a programming language and turns it into something your computer can understand).  There are several articles in this help system that will instruct you on how to write a rule.

In order to use rules applied, first you need a rule.  In our example, the rule should be: payoff = $0.00.  Now we need to convert that to a rule that LoanPro can understand.  We’ll start by navigating to Settings > Company > Rules Manager within your company account.

Screen Shot 2015-10-09 at 11.15.45 AM

Click  Add to add a new rule.

First enter a name for the rule in the Name field.  Next, select True/False Output from the Category drop-down menu.  We’ll make this selection since we want the rule to evaluate to either true (the loan is paid off) or false (the loan is not paid off).

Enter the new rule into the formula box provided.
Screen Shot 2015-10-09 at 11.29.28 AM

Our rule will be (<= status-payoff 0).  The <= is a logical test to see if the first number, in this case the status-payoff variable, is less than or equal to the second number, 0.  We found the status-payoff variable by typing payoff into the search field.

Payoff Variable Search

Now you can save the rule by clicking  Save. To validate any rule you entered, click  Validate this rule. This will ensure that your rule uses correct Clojure syntax.

Apply the Rule

Now that we have our rule created, we need to tell the system what to do with a loan once this rule is met.  To do this, we will first navigate to Settings > Loan > Rules Applied > Loan Settings.  There are several tabs under the Rules Applied tab.  As specified in the example, we want the status of a loan to change when our rule is met.  Since loan status is a loan settings item we chose the Loan Settings tab under the Rules Applied tab.  If we wanted a different action to be taken when our rule was met, we may have chosen one of the other tabs.

Click  Add to enter the new rule application.

You have many options on this page.  This is simply because you can change any of the loan settings when a rule applies.   First, enter a name for the rule application so that you will be able to distinguish it from the others.  Something like ‘Change status to Paid Off when Payoff is $0.00’.  Click Empty in order to apply the rule we created.

Rules Applied Add Rule

Now click Load Existing Rule in order to add the rule we already created.

Select Rule

Find the rule we created (Loan is Paid Off) and click Insert in the last column of the rule’s row.  This will add the rule to the formula editor.  Now click  Save in order to add that rule to the rule application.  Now you can choose which loans this rule application will apply to and when the rule will be evaluated.

If you want the rule application to be active on new loans going forward, click the “Add To New Loans” toggle switch. Use the “Evaluate In Real Time” and “Evaluate In Daily Maintenance” toggle switches to choose whether rules should be evaluated when changes are made to the loan, when daily maintenance runs, or both.

If you want to enroll all of your existing loans in the rule application, click  on the main screen for the rule application you want to enroll loans for.

Enroll All Loans

Now we will designate the actual change that needs to occur.  In this case, we’ll choose a loan status of Paid Off.  We’ll also choose a Sub-Status of Full Term.

Rule Application Change

Finally, click  Save in order to save the rule application.

Applying the Change

Your work is done at this point, but it’s useful to know when your rule will be evaluated by the LoanPro system.  There are three times when a rule may be evaluated by LoanPro: when loans are updated daily, when events occur on the loan, or when you choose to force a rule.

Daily Update – LoanPro updates all live loans on a daily basis.  This is done to compute interest accrued on the loans, update numbers for payoff, record data for specific reports, add automatic fees, etc.  Rule application will be applied at this time and any necessary changes to loans will be made.

Loan Events – Loan events like the logging of a payment or fee, the adjustment of past-due balance, etc. can also trigger the evaluation of a rule application.  This will only happen if the Evaluate In Real Time toggle switch is set to Active inside the rule application.

Force – You can force a rule to be evaluated for all the loans for which it is active by clicking the  for the rule application in Settings > Loan > Rules Applied.  You can also force the rule for a single loan by clicking the  in Rules Applied inside the appropriate loan tab.  For our example, you could force the rule application by navigating to Loan Settings > Settings and then clicking the Rules Applied tab at the top of that section.  Then click the force button () for the appropriate rule application.



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