Origination process
The origination process parameters allow you to customise the loan origination flow and define the loan workflow. To set up the origination flow parameters, choose the available values Yes or No from a dropdown. To learn more about the origination parameters, see the table below.
Origination process parameters
Scoring review allowed*
List
Select whether the credit score is sent directly from a 3rd party system or inserted manually into the Tuum system (can be reviewed and approved by an additional employee).
Application change allowed*
List
Select whether the application change is allowed. If not, a new application needs to be submitted.
Application review required*
List
Select whether the application review by the employee is required or not. If the application review is not required, the system creates a loan offer automatically.
Offer review required*
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Select whether the offer review by the employee is required or not before presenting the offer to a borrower.
Contract review required*
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Select whether the contract review by the employee is required or not before activating a contract. If contract review is not required, then the contract is activated automatically.
Payment instruction required*
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Select whether the payment instructions (SSI) used for loan disbursement must be entered during the application/offer creation process.
Account sweeping required*
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Select whether the account sweeping functionality is required or not.
Note: if this parameter is set to YES - when the loan is created, and the loan amount is disbursed, then it is automatically swept (sent) from the servicing/shadow/current account to the loan account. It is recommended to set the account sweeping to NO.
File generation required*
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Select whether the printouts generation for the loan contract is required or not.
Signature required*
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Select whether signing the contract by the borrower before its activation is required or not.
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