Loan Application Status - Working with Pending, Denied, and Booked Loan Applications

Screen ID: 

Screen Title: 

Panel Number:

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PEND-01

Work/View Application Status

6991

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Access this screen via Tool #2: Work/View Application Status (Shortcut: loanq).

This screen includes XL panel sizing! View this screen in standard, large or extra large sizing. (This documents the standard size screen.  Slight differences may apply to the larger sizes.) Learn more here.

Helpful Resources

Creating a Loan Account and Disbursing Funds (More videos below!)

I am a loan officer reviewing the application screens with a loan underwriter and the loan underwriter changes are not being saved. Why is this happening? Warning: Since multiple people can we working a loan application at the same time, it is possible for updates to be overridden by another user.  

Screen Overview

The Work/View Application Status system consists of three different layouts that can be used to view pending, denied, and booked (approved/created) loan requests. All incoming applications, regardless of their source, are marked with the date and time when the application record was created. This screen is also the access point for working Flex Loan modifications and for working 1Click Offers.

If at any point you want to start a new loan request, simply use New Application (F1 ) to proceed directly to the first loan processing screen without having to return to the Home Page.

Using Search Fields

There are two types of search fields at the top of the screen. The “Jump to” fields (Loan req./app # and Last name) will first sort the list, then scroll to the first matching item. For example, if you are looking to see the status of John Smith's loan application, move to the Last name field, type SMITH and use Enter. The system will sort by last name, then display the first loan request for a member with that name. Alternatively, you can click on any of the column headings to sort applications/loans by that column. In this case, sorting by name and then paging down to SMITH.

Using the Filter Criteria, Saving Filter Settings, and Refreshing the Screen

Use the Loan applications from date fields at the top of the screen to choose the range of dates to display. (Corresponds to the date that loan applications were originally created on the system.) This defaults to the past full month, but can be changed to any period desired, for example the previous week.  (Keep in mind that the system will retain application information for pending applications for only 3 months. Denied applications and denial notices are purged after 3 months. Applications for booked loans are also purged from the application files after 3 months.)

The Filters will filter the list so that only items that match the criteria will be displayed. "Filters Off" or "Filters On" (depending if filters are already in use to reveal a drop down with a list of filter.  Each filter will take you to a screen to see a list of your credit union's configured codes. Then select the code (or use Ctrl to select multiple codes) and Select to return to the Dashboard. The fitter will then have a check next to it, and the number of Codes selected will appear next to the filter name.

Select fields include: UW status, Interviewer ID, Dealer, Underwriter ID, Loan Category, Product Code, Interviewer branch, Delivery channel, Business Unit.

Saving Date Range and Filters (and Refreshing the Screen)

Do you work the loan queue multiple times a day or week and always look at the same grouping of loans?  Well, you can save your selection criteria so that the next time you enter the loan queue, the selections will be saved!  Save any of the filters, including the relative date range, meaning if you selected the last week, the last week will show the net time.  If you make changes to the filters, you always have the option to return to your saved settings or to remove the filters entirely to start over. These filters are saved by Employee ID with one set of saved setting allowed per employee ID. 

NOTE:  f you enter the previous week in the date range, the next time you enter the screen, the previous week from the current date will display.

To return to the complete list (sorted by loan app #), clear the search fields and use Clear All Filters. Refresh (F5) does not clear the filters but will bring in new loan applications that have previously been submitted to the queue..

Different Bottom Views (Pending/Denied/Booked/Modifications/1Click)

There several views available on this screen:

Key Areas and Access Points to Other Lending Screens (Buttons)

These features are accessed by the use of buttons the Standard view of the screen.  Other views may display this area without the use of buttons.

Button

Description

New Application

If at any point you want to start a new loan request, simply use New Application (F1 ) to proceed directly to the first loan processing screen without having to return to the Home Page.

Loan Amount

Date/Time

Use this to toggle between the amount of the loan request and the date and time it was submitted.

Activity Tracking

Loan Officers, to get a “dashboard” view of the loan team's activity and progress towards team goals, use Activity Tracking (F17) to display a statistical analysis screen showing all applications in the pipeline.

Wait Times this Week/Counts by UW Code

Use Wait Times to show see the number of applications that are waiting for paperwork to be signed. Select the button to filter pending applications to review a screen that allows you to filter the listed by only those in the designated wait time period. Applications with an underwriter code will omit loans flagged with underwriting codes that are Type A (approval) or Type D (denial).

Use Counts by UW Code (F20) to view the status of all codes.

Key Activity Tracking

Use this to display the Key Activity Tracking area where a record count for up to 6 critical underwriting codes can be displayed. This feature is ideal for central lending departments to monitor incoming loan applications and items requiring immediate attention. Use Refresh (F5) to update counts throughout the day. To see these same counts for all remaining codes, select Counts by UW Code (F20).

  • This feature is designed primarily for underwriting codes configured as “submit” codes, representing new applications awaiting underwriting action. This is particularly helpful for credit unions with branch locations submitting new loan applications to a central loan underwriting department, to ensure that newly submitted applications get prompt attention. Up to six codes can be included on the main status screen.  Use Counts by UW Code (F20) to view the status of all codes.

  • Although designed primarily to see underwriting on pending applications, you can see a record of underwriting on pending, booked, and denied loan applications by selecting Counts by UW Code (F20).

Analytics Booth: Power Line/ Web Version

Launching the Web Version (F22) dashboard will provide additional tools to subscribers to analyze data that can only be found in Analytics Booth, including more screen real estate to view more data at one time, different filters and graphics, and new ways to understand the data. Non-subscribers will be presented with a splash page.

Use the Power Line (F23) button to launch an immediate trend line graph in Analytics Booth to help you better understand your data.  Not a subscriber? Learn more in the CU*Answers Store.

Check out this video: Analytics Booth at a Glance (Board Members: More Analytics Booth Videos Below!)

 

Color Coding of Decision Columns (Pass/Fail/Review)

The Decision columns uses color-coded indicators to show the results of the decision model as well as the results of the deal filters, if any, from the loan product configuration.  If both apply on the same loan application, then the deal filter results will appear only if the decision model passed (or if you do not use 247 Lender or FUEL (Forecasted Underwriting Express Lender) at all).

Dsgn (in green in the Pass column)

Indicates a decision model was pulled and a decision code of 1-5 (passed) was returned.  Select the app and use the Decision option to see the list of products and services for which the member has been approved.

When looking at our loan queue, we see a "pass decision" status but the application failed in the underwriting assessment requirements.  Why do we see the "pass decision" status?

Deal (in green in the Pass column)

Indicates the loan deal filters were run and passed for this app. 

  • NOTE: This indicator will appear only if the decision model itself was passed (if applicable).     

Dsgn (in red  in the Fail column)

Indicates a decision model was pulled and a decision code of 98 (failed the model) or 99 (failed) was returned.  Select the app and use the Decision option to review the results and reasons for the failure.

Filter (in red  in the Fail column)

Indicates one of two conditions:

  • A decision code of 97 (failed the filter) was returned without a decision model being run (based on minimum requirements filters such as credit score, debt-to-income ratio, or residency/employment stats); or

  • To see if the member failed the underwriting ratios assessment, refer to the Loan Application - Financial Summary screen.

Select the app and use the Decision option to review the results and reasons for the failure.  

Deal (in red in the Fail column)

Indicates the loan deal filters (based on the collateral and loan app data) were run and failed.  Select the app, use Work w/Loan Request, and proceed through to the Loan App Summary screen to re-run the filters and review the reasons for the failure.

  • NOTE: This indicator will appear only if the decision model itself was passed (if applicable).

Deal (in yellow in the Review column)

Indicates the loan deal filters were run and could not be passed.  This could be due to incomplete information on the collateral record or the app itself, or some other error.  Select the app, use Work w/Loan Request and proceed through to the Loan App Summary screen to re-run the filters and review the reasons.

  • NOTE: This indicator will appear only if the decision model itself was passed (if applicable).

Receive an Email When an Online Banking Loan Application Appears in this Queue

Your lending department can receive an email when an online banking loan application is submitted.  Check "Generate email when this underwriter code is used" and enter an email address on the Home Banking (HB) underwriting code.  Learn more here.

Pending Applications

I select a loan request and then when I am on the loan application screens, I do not see all ten buttons at the bottom of the screen.  Why is this happening?

This view shows all loan requests/applications that were created during the selected period and are still at a pending status. Pending applications are automatically purged from this list after the current month minus 120 days.

Select an application in the list and use one of the following options:

Option

Description

Work With Loan Request

Use this option to view the loan request and application information, or to flag the loan request with a Underwriting Code.

If the item is marked , choosing this option will display a series of screens that will help you determine how to handle this application. Click here for more information on handling suspect applications from external loan channels.

Checklist

Use this option to see the Electronic Checklist for any loan listed, showing the status of tasks to be completed for this loan.

Underwriting Comments

Use this option to view or change the Underwriting Comments attached to the member's or non-member's SSN.

Dealer

For loans that have been coded with one of your credit union's configured Dealer/Indirect Lender IDs, use this to view a pop-up window showing dealer name and contact information. (The Dealer/Indirect ID can be entered on the Loan Request screen.)

Delete Application

Use this option to delete an application from the system. This is helpful if an application exists for an individual that is no longer a member, or for a loan request that was created in error. There will be one confirmation.

Application Comments

Use this option to view or modify application comments for this loan app.

  • If the Date appears in red text, there are applicant comments on the application.

If the loan application has not been started yet for the loan request selected, a message will appear, “2559 - Application does not exist for this loan request.” Use the Work With Loan Request option to proceed with creating an application for this loan request.

Loan File

Use this option to display the Member Loan File Action Codes window, used to view all of the various parts of a member's (or non-member's) loan file, including outstanding loans, existing loan requests, Inquiry, Loan Contract, etc. This is same Action Codes window that appears when working with the Process Member Applications feature.

Decision

If your credit union uses a decision model, this option can be used to display one of the following screens:

  • If the model was run and the member passed the model (was pre-approved), the Credit Report Decision screen will appear to show pre-approval information for this member.

  • If your credit union uses 247 Lender or FUEL, and if the model was run and the member did not pass (either because the minimum requirement filters failed or the member failed the model itself), the 247 Lender Results screen will display instead to allow you to review decision information.

 

Denied Applications (F11)

This screen shows all loan requests for the selected month that have been denied, with a denial notice generated. Denied applications are automatically purged from this list after the current month minus 90 days. Select an application in the list and use one of the following options:

Option

Description

Display Denied Loans

Use this to view or reprint the denial notice that was generated for the selected request.

Dealer

For loans that have been coded with one of your credit union's configured Dealer/Indirect Lender IDs, use this to view a pop-up window showing dealer name and contact information. (The Dealer/Indirect ID can be entered on the Loan Request screen.)

Decision

Use this to display the Credit Report Decision screen showing pre-approval information for this member (if any).

 

Booked Applications (F10)

This screen shows all loan requests for the selected month that have been “booked” as a credit union account, showing the loan account that was created.

Any account numbers that appear in red represent loan accounts that have not have any funds disbursed yet (a zero balance). Booked applications are automatically purged from this list after the current month minus 120 days. Select an application in the list and use one of the following options:

Option

Description

Account Inquiry

Use this to see the account information inquiry screen for the loan account.

Checklist

Use this to view the status of tasks to be completed for the application or to mark the loan file as complete and verified.

Delete

Use this to delete the loan request/application that was used to approve this loan. The loan itself will remain intact, but it will no longer be listed on this screen.

Dealer

For loans that have been coded with one of your credit union's configured Dealer/Indirect Lender IDs, use this to view a pop-up window showing dealer name and contact information.

Decision

Use this to display the Credit Report Decision screen showing pre-approval information for this member (if any).

Disburse Loan

This option allows you to disburse the loan funds directly from this screen. If rights have been given to the user, then he or she can disburse the funds.

  • If the “Restrict approving LN officer from disbursing same loan” flag has been checked on the loan category associated with this loan, then the same person will not be able to both approve and disburse the funds.

Modifications

This screen shows all Flex Loan modification requests. Requests are not removed from this queue until they are deleted.  The most recent request is at the top of the screen.

The Activity Tracking and Underwriting code filters do not apply for this type of request.

Learn More: Overview: Flex Loans, Flex Loans (My Loans/My Way) booklet, Flex Loans Overview Video

What do the statuses mean in the Loan Modifications tab?

Select a loan modification request in the list and use one of the following options:   

Option

Description

Work wtih Request

(Work with Loan Modification Request) Use this option to view the modification request to see the details of the request and how it passed the exclusions, to approve the request, or to deny it.

Underwriting Comments

Use this option to view or change the Underwriting Comments attached to the member's or non-member's SSN.

Dealer

Use this to view a pop-up window showing dealer name and contact information, if that is available.. (The Dealer/Indirect ID can be entered on the Loan Request screen.)

Delete Request

Use this option to delete a request from the system. This is helpful if an application exists for an individual that is no longer a member, or for a request that was created in error. There will be one confirmation.

Account Inquiry

Use this to access the Inquiry screen to learn more about the loan being modified..

Print Forms

Use this to print loan disclosures and other forms, customized for your credit union. Use back up to access the forms.

Loan File

Use this option to display the Member Loan File Action Codes window, used to view all of the various parts of a member's (or non-member's) loan file, including outstanding loans, existing loan requests, Inquiry, Loan Contract, etc. This is same Action Codes window that appears when working with the Process Member Applications feature.

 

1Click Offers

Learn More: Overview: 1Click Offers, 1Click Offers (My Loans/My Way) booklet, 1Click Offers Overview Video

This screen shows all completed 1Click offer loans that have been processed by the system.  NOTE: This tab shows even if online credit cards are not offered by the credit union.

Option

Description

Delete Offer

Use this option to delete a offer from the system. This is helpful if you wish to no longer offer a 1Click offer, or for a request that was created in error. There will be one confirmation.

Checklist

Use this to view the status of tasks to be completed for the loan product.

Account Inquiry

Use this to access the Inquiry screen to learn more about the loan account that was just opened.

Print Forms

Use this to print loan disclosures and other forms, customized for your credit union. Use back up to access the forms.

 

Mark Completed

Use this option move the offer from this tab to the booked loans tab.  You may do this to indicate the forms and other processing on the loan has been completed. If this is not done, the 1Click offer will not be included in several analysis screens.  See Overview: 1Click Offers 

 

Additional Video Resources

Check out these additional video resources!

View more lending videos.

Visit the CU*BASE video library to view more videos!

Analytics Booth for Board Members: Features

Analytics Booth for Board Members: Password Reset

Analytics Booth for Board Members: First-Time Login

Analytics Booth for Board Members: Analyzing Peer Group Data

Analytics Booth for Board Members: Configuring Primary Peer Group

Analytics Booth for Board Members: Configuring Secondary Peer Group

Visit the CU*BASE video library.

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#PEND-01.htm