Loan Origination Overview

Loan Origination uses a variety of System Management configurations that define how the system handles loan applications. The following configurations are tied to sub-products, and/or account products, which determine the decision process, settings, and defaults:

Risk Models
Loan and Account Pricing Models
Screens
Loan Workflow Models
Loan and Account Validation Models
Loan and Account Decision Models
Field Configurations
Loan Officer Approval Limits
Stipulations
Fees
Event Processing for Account Product Funding Records
Calculate or Event Processing for Eligibility
Credit Report Processing
Debit Report Processing
Cross Sells
Standard Documents
Default Values

The aforementioned configurations can be grouped into three tiers as illustrated in the flow chart below:

Level One Configurations are of paramount importance. The proper configuration of these items determine the efficiency of the application process. Failure to configure these items results in an inability to successfully submit an application for a sub-product.

When completing level one configurations, it is recommended that the configurations are completed in the following order:

Risk

Loan Pricing

Pricing can also be established for account products, but is considered a Level Two Configuration, as it is not required for the application process.

Screens
Loan and Account Validation
Loan and Account Decisioning
Account Products
Loan Workflow Models
Event Processing for Account Product Funding Records

Level Two Configurations increase the efficiency of the application process. Without these configurations, it is possible to submit an application; however they ensure applications are processed proficiently by identifying time-saving defaults, limitations, and ensuring only relevant choices populate in lookup fields.

With the exception of Credit Report configurations, there is no order in which the level two configurations must be completed.

Level Three Configurations are the nice to have items. Failure to configure these items does not adversely impact application processing. These configurations contribute to user productivity by identifying time-saving defaults and increase institution efficiency with cross-sells.

With the exception of Cross Sell configurations, there is no order in which the level three configurations must be completed.

Once all level one, two, and three configurations are made, the preferred configurations are identified in specific areas within sub-products. Additional information on the configurations can be found in the sub-products topic.