Loan variations

A Loan Variation records a controlled change to an existing, Authorized Loan Contract after disbursement. It has its own maker-checker status and Loan workflow; changing the contract directly is not the normal variation path.

Access required

Read Loan Variation opens the Variation list and detail within scope.
Create Loan Variation creates a proposal from an eligible Loan Contract.
Update Loan Variation maintains an eligible draft and captures workflow requirements.
Assign Loan Variation assigns, self-assigns, or accepts stage work.
Process Workflow performs ordinary reviews, stage transitions, and configured pricing actions.
Waive Loan Variation records a configured waiver with a reason.
Export Loan Variation downloads its detail PDF.
L1/L2/L3 Loan Variation authority controls its maker-checker approval path.
Create Transaction is needed when an approved reduction or settlement is posted through transaction creation.

Cash disbursement for an approved Top-up is performed with Process Workflow after its workflow has completed.

Choose the variation type

Open a disbursed contract under Loans → Loan Contracts, select Servicing & Variations, then select Create Variation. You can also review created records under Loans → Loan Variations.

The current UI supports:

Variation	Use
Top Up	Increase exposure through additional cash, refinance plus net cash, or refinance without a cash leg.
Top Down	Reduce an approved limit or reduce principal through a repayment-backed posting.
Reschedule	Replace the remaining repayment timing without treating the change as new cash.
Restructure	Change the remaining terms and, where configured, apply a newly generated price.
Early Settlement	Prepare the contract for full settlement through a repayment posting.

Top Ups cannot be created while the contract has arrears. Closed contracts cannot be varied.

Create the proposal

Select the Variation Type and, for a Top Up or Top Down, its Variation Mode.
Enter only the amount fields shown for that combination. The labels describe whether the value is a target exposure, principal change, limit change, settlement, or cash-to-customer amount.
Enter revised schedule terms for a Reschedule or Restructure.
Select the Effective Date where required and record the reason.
Select Create Variation.

The record begins with business status Draft and maker-checker status Captured. Its existing-outstanding snapshot preserves the contract position on which the proposal was based.

Authorize and process the variation

Submit the Captured Variation and complete its configured L3 → L2 → L1 maker-checker sequence. An Authorized record can then be assigned and processed through the workflow shown on its Workflow tab.

The assignment, accepted-work, Requirement, review, waiver, and transition rules follow the same pattern described in Progress a loan application, but use the Loan Variation permissions listed above.

For a Top-up or Restructure, Generate Pricing Quote appears only when the current stage exposes that action. A Restructure must have a pricing quote before it can be applied. When the Pricing Policy requires manual Source of Funds selection, choose the eligible funding pool in the pricing dialog before generating the quote.

At a stage configured with Approve Loan Terms, use Approve Variation Terms to record the approved amount, effective date, revised schedule terms, cash amount, settlement amount, and decision note. This is separate from the requested values captured on the proposal. Saving approved terms clears any earlier pricing snapshot so pricing can be regenerated against the final terms. Approved terms must be recorded before the workflow can complete.

Advancing into a terminal workflow stage completes the workflow. remoteEaze then applies a non-cash Authorized variation in the same operation, or marks a cash-backed variation Approved so its controlled settlement or disbursement action can proceed.

Complete the financial action

The resulting action depends on the approved variation:

a non-cash Refinance-only Top Up, Limit Reduction, Reschedule, or Restructure can update the contract and create a new active schedule version when applied;
a Principal Reduction and Early Settlement require Record Reduction or Record Settlement, which opens a repayment Transaction;
a Refinance-and-net-disburse variation can require settlement before its cash leg;
an Additional-disbursement or Refinance-and-net-disburse Top Up exposes Disburse after approval and workflow completion.

The variation disbursement dialog shows the approved cash amount and the Loan Product's disbursement Transaction Code as read-only values. Partial disbursement and ad hoc Transaction Code replacement are not supported.

An immediate cash leg creates and queues a loan-disbursement Transaction. A future Posting Date creates a Scheduled Forward-Dated Transaction. The contract and replacement schedule are updated only through the variation's controlled execution path.

Review the resulting contract under Loans → Loan Contracts → Servicing & Variations and confirm the active schedule version on Schedule.