In this article, we will be discussing about the operations and features involved in the Encompass 360 Loan custom field calculation. This will be helpful in creating custom fields for the custom forms created as per the business requirement.
Encompass 360 Loan Custom Field Calculations
- The Loan Custom Fields tool provides the ability to create calculations for both pre-defined and user-defined custom field IDs.
- A custom calculation is an expression that returns a number or text value, which is then saved into the associated custom field.
- Loan custom field calculations can also be used in advanced coding for business rules.
- Please refer “Advanced Coding for Encompass 360 Business Rules”.
How to create a Custom Field with a Calculation?
- On the menu bar, click Encompass, and then click Settings.
- On the left panel, click Loan Setup, and then click Loan Custom Fields.
- Double-click to open a pre-defined custom Field (such as CUST01FV).
• To create a user-defined custom field ID, click the New icon and type the Field ID.
- 4 Enter a Description, and then select a Format for the field. Refer to the online help for more information regarding the field formats.
- 5 Enter the calculation.
- 6 To validate the calculation syntax, click the Validate button and then click OK to the message.
- 7 When finished, click OK.
Operations and Features of Encompass 360 Loan Custom Field Calculations
A custom calculation can contain any combination of the following operations and features:
- Simple arithmetic operations, such as addition and subtraction
- Mathematical operations, such as exponentiation and absolute value
- Text-based operations, such as concatenation, truncation, and extraction of characters
- Date-based operations, such as adding a fixed number of days or months to a date
- Values of other fields from the same loan
- Branching and logical operations, such as if…then, AND, and OR
We discuss about the different types of operators and its features in the articles below:
Encompass 360 Loan Custom Field Calculations – Part 2
Encompass 360 Loan Custom Field Calculations – Part 3
Also watch:
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Take Five Consulting is a technology company, based in Virginia U.S., that specializes in the Mortgage Banking vertical especially LOS implementation and application development. Take Five Consulting creates and implement mortgage technology and software specifically for Mortgage Industry.
