Loan application

To manage loan applications in the BackOffice, you can do the following:

• Create loan application,

• Search loan applications,

• Modify loan applications,

• Accept loan applications,

• Decline loan applications,

• Cancel loan applications.

Loan application management options

There are two options for managing loan applications:

Loan applications with Tuum	Loan applications outside of Tuum
The process starts with the loan application. To proceed, create a new loan application via Tuum.	If your company processes the loan application with a different solution than Tuum, you can skip this step and start with the loan offer.

Create loan application

The BackOffice interface has limited capabilities to manage the loan application process. Therefore, the lender must create a new loan application using the Loan application API.

Before creating a new loan application, make sure that:

• The loan product is activated for the tenant.

• The borrower has a person record with Tuum.

• The borrower has a current account with Tuum for servicing the loan if the borrower applies for the credit line. The current account is an optional:

  • If there is no current account, a shadow account is created automatically.

  • If there is no connected account, Tuum can process disbursements and repayments through the payment router.

Search loan application

1. Loans > Search > Applications.

2. Fill in search parameters > click the Search button.

3. To access the loan application details, click the loan application Number.

BackOffice users with the VIEW_LOAN_APPLICATIONS privilege can search and view the loan application details.

Modify loan application

You can change the loan application information by calling the loan application API - change loan application or change application score.

You can modify the loan application until the loan offer is created.

Accept loan application

To accept the loan application, call the dedicated API endpoint. Once the application is accepted, you can create a loan application offer.

Decline loan application

If the loan application does not meet some of the requirements, you can call the decline loan application API endpoint. Once the loan application is declined, the loan origination process terminates.

Cancel loan application

If the borrower does not want to proceed with the loan application, you can cancel the loan application. The cancellation terminates the loan origination process.