Configuring Loan Delivery Channels (2)

Description

Enter a description for this delivery channel. Currently used only on the previous screen. May also be used for miscellaneous reports in the future.

Use this field to enter the branch number to be used when creating the loan application record. Click the lookup button  to see a list of your credit union's configured branches.

Use 99 if you wish the system to use the member branch. (This is the default setting.)

Use this field to specify the Employee ID to be used as the Interviewer ID (the loan processor) for all applications coming in through this delivery channel. Click the lookup button to see a list of your credit union's configured Employee IDs.

When automated approvals and loan creation features are in place, this ID will also be used as the Underwriter ID on the new loan account.

Underwriting Codes

If your credit union is using decision modeling, these fields to specify which Underwriting code should be assigned to all incoming loan applications from this delivery channel. Click the lookup button to see a list of your credit union's configured codes.

If you do NOT use a custom decision model from your bureau, only the “Model Failed” memo code will be used for incoming apps; however, you should assign an approval-type code to the “Model approved” field.

Enter the Underwriting code that should be attached to the loan request if the model results in a “pre-approval” for the member. Must be an approval (“A”) type code.

• This will be used only if your credit union has a decision model (either 247 Lender or a custom model).

Enter the Underwriting code that should be attached to the loan request if the model fails for any reason. Must be a memo (“M”) type code.

• IMPORTANT: This must be a “Memo” type underwriting code. It does NOT mean the loan is denied, just that it requires further review by an underwriter.

If you do not use a decision model, this code will be used for all incoming apps through this channel.

No longer supported.

(Does not appear on all delivery channels.) Enter the Underwriting code that should be attached to the loan request to notify you when an online loan app was started but not completed for some reason (such as a lost connection, session timed out, member navigated to another site without finishing, etc.). Must be a memo (“M”) type code.

• NOTE: A code for the Home Banking channel is required if you are using the Incomplete Online Banking Loan Application Handling feature configured in the Loan Workflow/Apps Controls (Tool #475).

Check this flag if loans should be approved automatically without any verification of credit or other parameters.

• This was originally designed for a custom loan channel where applications from several local hospitals were guaranteed approved by the credit union based on a partnership between the credit union and the hospitals. If you would like to learn more about how the XML Lending Gateway can be adapted creatively to help you build new loan channels like this, please contact a client service representative and ask to speak to our Director of Lending Products.

• BE CAREFUL: If this box is checked, ALL apps from this delivery channel will be automatically approved.  Factors normally employed in the decision process are ignored when this flag is turned on. (This was designed for an indirect lender that had a guaranteed buy-back arrangement with the CU.)

Use this to specify the type of credit report that should be pulled automatically whenever a loan request come in via this delivery channel.

Credit File Only, 30 (FUEL) - to request a formatted credit report along with general summary information, scores and profile summary data. No pre-screen (“Decision”) results will be included.

Credit File + Custom Decision, 31 (FUEL) - to request a formatted credit report along with general summary information, scores, and profile summary data, as well as the custom Decision results per your arrangement with the credit bureau. (If your credit union has not arranged for a custom decision model, this inquiry type will behave exactly the same as type 30 described above.)

If this box is checked CU*BASE will amortize the loan based on the product(s) attached to the delivery channel.

BE CAREFUL: If this box is checked, ALL applications from this delivery channel will be automatically approved. Factors normally employed in the decision process are ignored when this flag is turned on. (This was designed for an indirect lender that had a guaranteed buy-back arrangement with the CU.)

Used with for loans with OpenLending. Check this box to allow this delivery channel to support loans approved by OpenLending. Learn more: OpenLending Loans.

Used for vehicle balloon loans. Check this box to allow this delivery channel to support sending balloon loan information to a third-party.

This field is conditional and will only display if a vendor is currently configured for the Activate interface for balloon lending field in OPER Tool #5427 Master CU Parameters.