Set Up Product Fees for Loan Products

Add the various charges associated with loan products that an applicant is required to pay during the application approval and servicing processes. For example, create product fee records to include a range of costs, such as processing fees, origination fees, and underwriting fees. A clearly defined product fees setup ensures that applicants understand the costs associated with their loans.

Required Editions

Available in: Lightning Experience

Available in: Professional, Enterprise, and Unlimited Editions

User Permissions Needed
To activate picklist values:	Customize Application

Add the picklist values.
When you create product fee records for loan products, you must specify the type of fee. Add the picklist values for Type.
1. From the object management settings for product fee, go to Fields & Relationships.
2. In the Quick Find box, enter Type, and then select Type.
3. In the Picklist Values for Type section, click New.
4. Add the picklist values.
  For example, you can add Origination Fees, Processing Fees, and Underwriter Fees as the picklist values.
5. Save your changes.
Create product fee records.
1. From the App Launcher, find and select Product Fees.
2. Click New, and enter the product fee details.
3. To add another product fee, click Save & New or to finish, click Save.
Your users can associate the product fee records with a loan product when they create application form product fees.