[Oasfaa] Eagle II Disbursement Enhancements

[Client Relations]

In order to accommodate different school processes, the EAGLE II system is
being modified over the weekend (10-21-01) to allow more flexibility when
the first disbursement of a loan is cancelled. Currently, when the first
disbursement of a loan is cancelled, all subsequent disbursements are
cancelled. Following this system change, when a disbursement-level
cancellation is made, all remaining disbursements will remain active. This
will be in effect for all disbursement-level cancellation requests including
those received from NetWizard, WhizKid, Statuschanges e-mail or phone/fax
requests. Loan-level cancellations will still result in all disbursements of
the loan being cancelled.

Forms, processes, and products impacted include OGSLP's internal online and
batch processes, and the "LFM Return of Funds Checklist". Also, the
NetWizard Guarantee Disbursement and Servicing Data (GDSD) Disbursement
Changes page is being modified to include a check box to be marked if a
school would like to cancel all remaining disbursements.

The results of these changes to existing edits are listed below:

-- Schools will be able to cancel a first disbursement of a loan without
canceling remaining disbursements.
(Example: Original loan has 2 scheduled disbursements. If a school requests
only the first disbursement to be cancelled, the second disbursement will
remain active.) 

-- Schools will not be held to the process of loan disbursements being made
in the same order as originally guaranteed. 
(Example: Loan originally has 2 disbursements. School cancels first
disbursement. Following the second disbursement, a school could now choose
to reinstate the first, even though the date of the 2nd disbursement
precedes the first.
 
-- The Disbursement Roster Report, the Lender Disbursement Notification
Report, and the CommonLine Disbursement File are being changed to denote an
indicator for the "actual" first disbursement within a loan. However, the
sequence number field will not change. Therefore, dependent upon the change
you request, you may receive an 02 disbursement prior to receiving an 01.

As always, we hope this flexibility enhances your ability to deliver loan
proceeds in a manner that works well for you. If you have any questions,
please contact a Client Relations representative. 

Client Relations
OGSLP
PO Box 3000
OKC, OK 73101-3000
(405) 234-4329 or (800) 247-0420
fax: (405) 234-4459
email:  <mailto:clientrelations at ogslp.org> clientrelations at ogslp.org