Application Processing

The following flowchart depicts an application’s lifecycle from Initialization through Disbursement:

Please reference the KEY included at the top of the flowchart for an illustration of how items such as User Generated, System Generated, and Optional actions are depicted throughout the lifecycle of a loan application.

Assumptions

Screens and Workflow Model

The flowchart assumes that an application is processed using a workflow with the following screens:

Origination

Applicants
OFAC (panel) - if applicable for Applicants
Assets
Credit Reporting
Liabilities
Collaterals
Loan Terms

Underwriting

Underwriting Review screen with the following panels:
- Stipulations
- To-dos
- Counteroffers

Post Decision/Disbursement (Approval Stage)

Cross-sells
Stipulations (panel)
Funding (panel)
OFAC (panel) - if applicable for Payees
Document Processing (connector)

Permissions

In addition to the aforementioned screens, this flowchart also assumes that the following permissions have been granted to the users/groups completing the application:

Initialization

Create New Application

Origination

Change Assets on Application
Change Liabilities on Application
Get Vehicle Valuation in Application
Permissions to applicable connector functionality (OFAC and/or Credit Reporting)

Underwriting

Approve Loan
Complete Manual To-dos
Counteroffer – Add, Edit, and Delete
Counteroffer – Approve Application on Counteroffer Acceptance
Decline Loan
Stipulations – Add Clear

Post Decision (Approval)

Change Application After Decision
Complete Manual To-dos

Disbursement

Disburse Loan
Manually Disburse Application

For information about screens, workflow models, permissions, or any other configurations that affect the application lifecycle, please refer to the Administrator Guide.