Cancellation

Loan Cancellation

This module is used to cancel loans which have not been posted to the account.

This could be a result of member changing his or her mind on issues to do with the loan being processed .

To access this module: Credit Management -> Navigate -> Operations ->Loan Origination -> Cancellation

The following window opens up:

Loan cancellation Fig 1

Click on look up icon to open the Loan Number Lookup Dialog Box :

Loan cancellation Fig 2

Select the loan to be verified from the list.

NOTE : The loan status must be verified. Select the correct loan section, date ranges then refresh.

Make use of the additional search fields to retrieve the particular loan case

The selected customer details will be displayed in the relevant fields as shown below

Loan cancellation Fig 3

Select cancellation action : differ or reject, circled in red above.

NOTE : When a loan is differed, it goes back to appraisal and can still be amended to the succeeding stages.

When a loan is rejected, it will have to be registered afresh for processing.

Click on the update button to effect the changes into the system.

A prompt for proceeding with the action will pop up:

Provide your consent accordingly.

On successful completion you will get a pop up message confirming that the operation was successful.

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