Page Comparison

Pre-Origination (0)

• A customer or

• back-

• office user has started the creation of an application
  AND

• The application hasn't yet been submitted

• A lA loan Application is being created
• Customer logs

• in or an account is created for the customer

• Start page
• Origination

• The customer is created in the system

• Basic customer and loan details are collected and entered into the system

• The initial decision to recommend/not recommend the loan application for approval is being made

Origination

• Recommend for approval
• Cancel the application

• The loan application has been recommended for approval  
  AND

• The credit product requires a commission of

• a "Pre-approval fee" type

OR

• The loan application has been approved
  AND

• The credit product requires a commission of a "Pre-disbursement fee" type

• We are waiting for the customer to pay a pre-approval/pre-disbursement fee

Underwriting

• Confirm that the payment has been received (enables further processing)
• Cancel the application

Initial payments expired (250)

• Pre-approval/Pre-disbursement fee has not been paid within the defined period (before the start date define for the credit product)

• The loan application is closed

Archive

• Collateral evaluation is required for the credit product ("Credit product → Use collateral" is on)
  AND

• The loan application has been recommended for approval at the Origination 

• The loan's collateral is being added and evaluated

• The decision to recommend/not recommend the loan application for approval is made

Collateral 

• Recommend for approval
• Return for reprocessing
• Reject the application
• Cancel the application

• Loan application recommended for approval at the Origination Stage 
  AND
• If required, the initial payment has been made
  AND
• If required, the loan application has been recommended for approval at the Collateral stage

• The system is automatically processing the loan application in compliance with the credit product settings (Credit Bureau request, Business Rules, and Scorecard checks)
• Subject to the system and credit product settings

• , an automatic decision to recommend/not recommend/approve/reject the loan is made

• Risk Evaluation
• Underwriting 

(the actions are performed

in the background and their results are visible

in the Underwriting and Risk Evaluation workplaces)

• Automatically recommend for approval
• Automatically approve
• Automatically reject 

• The credit product requires a two-step approval
  AND

• The loan application satisfies all the previous conditions and checks (initial payment, collateral, auto-processing) 

• The loan application is being pre-checked by an authorized Credit Manager

• A decision to recommend/not recommend the loan application for approval is made (if recommended, the loan moves on to Underwriting)

Risk Evaluation

• Recommend for approval
• Return for reprocessing
• Reject
• Cancel the application

Bank Account Verification (100)

• The loan application has been recommended for approval 
  AND 

• The bank account defined for the loan application has not been confirmed

(this check may be performed at different steps of the loan application assessment (

before disbursement)

A bank account verification process is required

• Request the customer to pass the bank account verification
• Return for reprocessing
• Cancel the application

Waiting for Bank Account Verification (102)

• A bank account verification has been requested

We are waiting for the customer to verify the bank account

• Risk Evaluation
• Underwriting 

• Contact the customer
• Return for reprocessing
• Cancel the application

Waiting for a response from the bank service provider (103)

• The customer has passed bank account verification but the answer from the service provider has not been received

• Risk Evaluation
• Underwriting 

• Request another check
• Contact the service provider (beyond the system) 
• Return for reprocessing
• Cancel the application

• The bank account defined for the loan application has not been confirmed within the defined period

The loan application is closed

• The loan application was returned for reprocessing
  (after Collateral or Risk Evaluation, or by an authorized Underwriter)

• Basic customer details are edited or updated

• The initial decision to recommend/not recommend the loan is confirmed or updated

Origination

• Recommend for approval (repeatedly)
• Cancel the application

• Manual approval is required for the credit product
  AND

• The loan application satisfies all the previous conditions and checks (initial payment, collateral, auto-processing, risk evaluation) 

• The loan application is awaiting

• the decision of an authorized

• underwriter
• An authorized underwriter is taking the final decision on the application approval

Underwriting

• Approve
• Return for reprocessing 
• Reject
• Cancel the application

Waiting for offer confirmation (17)

• An underwriter has initially approved the loan and sent the customer an offer (or several offers)
• The offer has not yet been confirmed by the customer

We are waiting for the customer to accept an offer

• Contact the customer
• Register offer confirmation in the system
• Cancel the application

Offer declined (301)

• The customer has declined the offer

The loan application is archived

Offer expired (302)

• Offer(s) has been sent to the customer
  AND
• No offer has been confirmed by the customer within the specified time period

• The offer has not been confirmed
• The application is archived

Waiting for signature (18)

• The loan application satisfies all the previous conditions and checks (in particular the offer is confirmed)
  AND

• An agreement has been sent to the customer  

• Contact the customer
• Cancel the application

• The agreement has been sent to the customer
  AND
• The customer has declined the agreement

The loan application is archived 

Agreement expired (20)

• The agreement has been sent to the customer
  AND
• The customer has not signed the agreement within the defined time period

Waiting for Down payment (23)

• The customer has confirmed the offer (if required)
• The credit product requires a commission of a "Down payment" type

• Underwriting
• Servicing

• Contact the customer
• Register payment in the system 
• Cancel the application

• The loan application satisfies all the previous conditions and checks

• The loan application has been approved (as a result of Auto Processing or at the Underwriting workplace)

• The loan application is awaiting

• disbursement
  BUT
• It can still be rejected by an Authorized Underwriter 

• Servicing
• Underwriting

• Initiate disbursement (Servicing)
• Reject (Underwriting)
• Cancel the application

• The loan application was rejected
  (as a result of Collateral or Risk evaluation; Auto Processing or authorized Underwriter's decision)

• Processing of the loan application is on hold
  BUT
• It can still be approved or sent for reprocessing by an authorized Underwriter

• The loan application is added to the archive

• Origination
• Collateral
• Risk Evaluation
• Underwriting
• Archive 

• Sent for reprocessing
• Approve

Gathering Investments

• The loan application has been approved
• The credit product implies peer-to-peer investment
• Not all required loan amount has been collected

• Investments for the loan are being collected

Servicing

• Reject
• Cancel 
• Register collection of the full amount of the investments in the system

Disbursement in Progress (14)

• Cancel
• Disburse manually

Disbursement Failed (13)

• Back-office user has initiated disbursement over a third-party system
  AND
• The disbursement has failed

• Initiate disbursement (Servicing)
• Cancel the application

Active (7)

• The loan has been successfully disbursed  to the customer

Loan is being serviced:

• Schedule is updated
• Payments are collected
• Any payment issues are registered

• Servicing
• Collateral (if collateral needs to be re-valuated) 
• Collection (if there are any past

• dues)

• Register payment 
• Restructure the loan
• Set the loan to the paid-off status
• Set the loan to the repaid status

Past Due (8)

• The loan payment wasn't performed on time

There is a past-due debt for this loan that has to be paid

• Servicing
• Collection
• Collateral (if collateral needs to be re-valuated) 

• Register payment 
• Restructure the loan
• Set the loan as paid-off
• Set the loan as repaid

Repaid (9)

Written off (10)

Customer deleted (21)

Canceled (22)