Loan Processing Workflow Controls

Description

Check this box to enable Underwriting Control, which prevents a user from creating or denying a loan application without the proper Underwriting Code entered on the Loan Recap screen.

Learn more about underwriting controls

SEE ALSO:Configuring Tools for Loan Teams

Changes made to this box are recorded in CUFMNT.  Search for program name ULNCL. 

Underwriter approval limits are used to control the dollar amount (of a loan) for loan underwriting (see above). Underwriter limits are configured by category. Check this box to enable Underwriter Limits at the credit union. Learn more about Loan Underwriter Approval Limits

• One word of caution for credit unions considering using underwriting approval limits. Once this feature is activated, underwriter approval limits are required for all loan officers approving loans using codes with underwriter security. Once the feature is activated, loan officers cannot approve loans without the appropriate underwriter approval limits. The absence of a limit (configured by loan category) will be viewed by the system as a limit of zero. The underwriter approval limit feature has a Copy option; it is recommended that credit unions create a “Loan Officer” Employee ID, add limits to this ID. Then the Copy feature can be used to copy these limits to all appropriate Emp ID, with individual adjustments made by each Emp ID as needed.

WARNING: If this box is checked and later unchecked, all configured underwriter limits will be deleted from the system.

SEE ALSO:Configuring Tools for Loan Teams

Changes made to this box are recorded in CUFMNT.  Search for program name ULNCL. 

Check this box if you wish to require a verification date to be recorded for all new loan accounts. This feature is used to track the paperwork associated with loan processing.

Be sure to enter the number of days that should be used to calculate the verification date. The calculated date will be entered into the File verification date field on the Loan Creation screen when the loan account is created.

SEE ALSO: Configuring Tools for Loan Teams

Changes made to this box are recorded in CUFMNT.  Search for program name ULNCL. 

Use this box to activate App Check, simply gives the application a “final check” so you can be sure your loan officer doesn't forget to get everything needed to complete the application.  Learn more about App Check here.

Check the box to activate this feature and press Enter to select the required items for the application on the next screen. 

• NOTE:  This feature also must be activated by employee ID in the CU*BASE Employee Security Special Security.

SEE ALSO:Configuring Tools for Loan Teams

Your credit union can implement a tight integration between CU*BASE and the J. D. Power (formerly NADA) or Kelley Blue Book (KBB) to populate the automobile’s current value directly into the collateral record. (The election of the vendor is selected in the Operations CU Master Parameters)

Learn more in the Configuring Tools for Loan Team booklet.

• IMPORTANT:  Prior to activation, you will need to work with Lender*VP to set up the connection to collect the J. D. Power (formerly NADA) data. 

• NOTE:  This feature cannot be used with commercial vehicles at this time.  Only automobile valuation can be populated.

• Self Processor credit unions:  To use this new feature you will need to add new subsystem.  Contact Lender*VP for assistance.  

Check this box to activate the Automated Collateral Valuation feature.  Once this box is checked, the "Valuation for collateral types" and "Valuation to use" fields will appear.  Select the appropriate collateral types to apply this feature to using the multiple Select button next to the "Valuation for collateral type" field.  Also select a "Valuation to use" value.

Once this activation is complete, when accessing collateral on the Loan Collateral Identification screen (used in loan applications and when updating collateral on an existing loan), you will see a "Get Value" button."  This allows you to populate the automobile’s current J. D. Power (formerly NADA) value directly into the collateral record. Learn more on this topic: Loan Collateral Identification screen.

• NOTE:  The "Get Value" button will appear only for collateral records of the collateral types selected in the "Valuation for collateral types" field.  

(Appears when "Activate automated collateral valuation" is checked.)  Use the multiple Select button to reveal a screen listing collateral types with collateral definition V (vehicle).  Select the collateral types you wish to use with the Automated Collateral Valuation feature explained above.

(Appears when "Activate automated collateral valuation" is checked for J.D, Power only (formerly NADA.) Defaults to "Retail;" however, you may also select Trade In or Loan.  

(Kelley Blue Book does not show this field, since Retail is always used by default.)

Preferred Handling of Incomplete Online Banking Loan Applications

Use this to determine what tool displays incomplete applications originating in online banking (or if these applications should be immediately deleted).

This allows you to give the job of following these leads up to another team. Select from the following selections:

• Show in loan queue. The leads will show in the LOS loan queue (Tool #2 Work/View Application Status.

• Show as leads in online request queue only. The leads will show in a separate queue were other online banking request are worked (Tool #13 Work Online Bankg Apps/Requests).

  • If you select Tool #13, the following field, "Retain leads in the online request queue for xx days" is also required.

• Delete. Incomplete loan applications delivered from online banking are immediately deleted from the queue and the files.

NOTE: You must first configure a loan delivery channel for "incomplete application" for the home banking HB channel for the Delete and Show as loan leads options to work properly. Learn more about Loan Delivery Channels.

SEE ALSO:

• Configuring Tools for Loan Teams booklet

• I would like to have my call center call the members for incomplete information on their online loan applications. How can I configure these incomplete leads, so they appear in a different tool instead of my regular loan queue (Tool #2)?

Enter a number up to 99 days. This is required if you select "Show as leads in online request queue only." above. This determines when the leads are purged from the queue and files.

I would like to purge my incomplete loan leads from appearing in Online Banking Requests (Tool #13) on a specific schedule. How do I configure this, and how does the purge work? When are the loan leads completely purged from the files?

Loan App Workflow Styles

Use this box to activate loan app workflow styles.  This feature is configured at the bottom of this screen.  

SEE ALSO:Configuring Tools for Loan Teams

A normal CU*BASE loan application has 10 different screens, but not all of them are critical for every type of loan.  The “Loan App Workflow Styles” controls the automatic forward momentum through the CU*BASE Loan Application screens, bypassing pages that are not required by the particular loan product (such as skipping over the employment, income, and assets screens for a CD-secured loan). 

• IMPORTANT: All normal “behind the scenes” actions still happen even if you loan officer does not actually view a screen.  For example, if your credit union auto-fills debts from the credit report this will still happen regardless of whether the officer actually views the Debts screen.  This feature simply means that the loan officer will not be presented the button to access the screen and will not be able to make changes to it.

To start using the feature, check this box and use Enter.  The system-generated styles will appear as well as the Add button which allows you to configure your own styles.  Learn more below.