Loan Request Management

The Loan Request Management System takes much of the manual labor out of lending, but leaves decision-making in the hands of the loan officers. It provides robust tools for analyzing the pipeline and auditing lending processes.

The System walks officers through an electronic loan application. If the officer feels the application is worth considering, the system will automatically pull the credit report data, the Bridger Tracker search and other applicable data into the application. The officer may review this data and, if the bank chooses, the officer may omit (not delete) some of the data from consideration. When the data is complete, the System will automatically score the application. It will also pull the customer records from the CRM system and determine the borrower’s total borrowing portfolio with the bank.

If the loan fits within the officer’s lending limits, he/she may approve the loan. If not, he/she may recommend it for review. The System will route the loan data to the appropriate reviewer(s). If the loan is approved, the System will send the data to the document processing system, and it will prompt the loan officer to verify that he/she has all the necessary documents for the file. If the loan is denied, it will generate a denial letter noting the reasons for denial.

The Benefits

The System improves the Loan Request Management process, while reducing its cost, by introducing a new system that:

• Normalizes lending processes, to ensure that checks and balances are routinely followed.
• Reduces manual data entry on loan applications and Loan Request forms.
• Eliminates the mathematical errors that are common to paper-based processing.
• Handles many of the labor-intensive aspects of lending – pulling the credit report, conducting the Bridger-Tracker search, doing the math, entering the data into the document production system.
• Tracks all loan applications/requests and their related documents to ensure that every application is processed quickly and has all the necessary supporting documents.
• Automatically routes review requests to the appropriate authority.
• Collects and records Loan Committee comments and votes, generates Meeting Minutes and routes decisions to all the bank participants, including the loan officer and Loan Processing.
• Provides a complete data record of all loan applications, allowing bank managers and auditors to easily analyze and report on the bank’s lending processes and pipeline.

The Features

• The System provides an online consumer loan application form, Change in Terms form and Loan Request form.
• These forms draw customer data from the operating system, whenever possible to populate the customer and officer/bank demographic information. The forms also draw bank and user data from the loan officer’s and reviewers’ log-in information.
• The System automatically calculates all fields that require calculations.
• The System contains specific lending parameters such as lending requirements and ratios, officers’ lending limits, etc. The system flags any field that fails to meet these parameters and automatically routes any Request that requires review to the appropriate level.
• Each time an officer creates an application, the System creates a Required Documents list in the Exception Tracking System. This checklist functions as an alerting system, reminding lenders what documents are still needed and when they must be collected. Loan Officers can check items off the Loan Request checklist, though they cannot do so on Exception lists.
• When a loan is denied, the System automatically generates a letter for the Lending Officer to sign and mail.
• When a loan is approved, the System automatically routes the information to Loan Processing as well as the Loan Officer. The System uploads the loan records into the document preparation system, if possible.
• The System allows the users to analyze variances between specified loan parameters and the ways loans have been made. For example, users could identify any/all loans that were made with fees other than the published fees.