Handling Unauthenticated Loan Applications

Pertains to loan applications that come into CU*BASE from an external source, such as a third party such as Prime Alliance, Dealertrack, or an external website.

When a new loan application is received into the CU*BASE staging system, it can fall under one of the following scenarios:

1	An exact match to an existing member record	Will be handled as if a member had signed on to online banking and sent an “authenticated” loan application: the loan application is automatically “attached” to that account base. Pull credit report automatically: Yes, unless a current credit report is found on file (dated within the retention timeframe configured in your credit union's Approval Matrix).
2	An exact match to an existing non-member record	Will be handled as if a non-member loan request had been created by CU*BASE: the loan application is automatically “attached” to that non-member SSN. Pull credit report automatically: Yes, unless a current credit report is found on file (dated within the retention timeframe configured in your credit union's Approval Matrix).
3	A new record that does not match either existing member or non-member records	Will be handled as if a non-member loan request had been created by CU*BASE: a new non-member record is created and the loan application is automatically “attached” to that non-member SSN. Pull credit report automatically: Yes
4	A partial or “suspect” match to either a member or a non-member record	This will be similar to when a credit bureau notifies of a “fragmented” credit report on file. In other words, there isn't enough information to assume it's a brand-new person, but also not enough information to match it safely to an existing record. Pull credit report automatically: No

Scenario 4 uses special “Suspect Application” handling by CU*BASE to avoid introducing bad data into CU*BASE member files. Instead of creating a normal loan application record, CU*BASE uses the existing HBMASTER file to stage these requests (this file also stores incoming membership applications as well as requests for changes to personal information and contact requests submitted through online banking).

So What Signifies an “Exact” Match?

In this context, several key data elements are used to decide whether or not the incoming application represents a person already in your credit union's files. Incoming applications are evaluated against the following data to attempt a match:

SSN

Last Name

Date of Birth

When the program looks to find matches, it first compares just the SSN against MASTER and MSNONMBR files. If there is no exact match, the application is treated as new non-member record. If a SSN match is found, the system then checks the other two fields to verify the match. If all remaining fields are exactly the same, then the application is treated as an exact match and the application is simply linked to the existing member/non-member record. If not, the application will be marked as “Suspect” and will require special treatment.

If the primary applicant was actually a match, but the co-applicant wasn't (or vice versa), the system will still treat the entire application as suspect. However, when working the item, you will only need to indicate what to do with the suspect applicant and CU*BASE will take care of the rest.