A new feature was implemented in LoanPASS to allow Date Fields to be added as application form, calculations, and product fields, which can then incorporated into calculations, rules, and data tables.
In addition, a new system field called “Current Date” was added for use in writing calculations or rules.
Note - To maintain accuracy of date rules written against the new Current Date system field, LoanPASS will be configured to the timezone of the client’s corporate location to allow the engine to determine the current date.
Price A Loan Page - Application Form Fields
When utilizing the date field option as an application field on the Price A Loan page, the user has the option to select a date from the calendar, or manually type in the date as shown below:
Data Tables
When creating data tables utilizing date fields, the data table set-up window will display a new data type option labeled “Date”. When selected, both the UI display (month/day/year layout) and database formats (year-month-day layout) will be supported for data entry.
Example
Calculations
When creating calculations with date fields, the calculation can be written against a date or a duration type field. Both duration “days” and “months” options are supported to write calculations against. Depending on the calculation, the output will either be a date or a duration value.
Example
Date + duration calculation which will result in a date output in days:
Date + duration calculation which will result in a date output in months:
Both calculations displayed in product search results:
Date calculations which will result in a duration output:
Calculation displayed in product search results:
Note - When writing a calculation against a specific date, use the following date expression format, DATE(MM/DD/YYYY).
Note - When writing rules or calculations for the system field “Current Date”, the engine will use your tenant’s timezone to determine the current date when executing.
What this means is if a LoanPASS tenant is configured for the Eastern Time Zone, a user running the engine between 9-12pm in the Pacific Time Zone may experience different results because the site’s current date will differ from the user’s current date!
Rules
Date fields can also be incorporated into Pricing & Eligibility rules.
Example
In this example, I've created an Eligibilty rule that will reject all FHA products that are priced before 6/15/2022. Not only did I use "Current Date" as my rule condition, I've also used it dynamically in my Rejection Reason:
Now when I run pricing for an FHA product, you can see it's been rejected:
If I select one of the "X" links in the pricing grid above, I can now view my Rejection Reason with the "Current Date" displayed in the text:
