Icon | | Preconditions | | | |
---|
| 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
| |
|
| Origination (1) | - 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
|
| Pending Initial Payment (200) | - The loan application has been recommended for approval Â
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 | Final Status |
| Collateral (12) | - 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 OriginationÂ
| - 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
|
| Auto Processing (3) | - Loan application recommended for approval at the Origination StageÂ
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
- UnderwritingÂ
(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 rejectÂ
|
| | - The credit product requires a two-step approval
AND - The loan application satisfies all the previous conditions and checks (initial payment, collateral, auto-processing)Â
| - 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 approvalÂ
ANDÂ - 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 | Underwriting | - 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
- UnderwritingÂ
| - 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
| We are waiting for a response from the remote bank provider service | - Risk Evaluation
- UnderwritingÂ
| - Request another check
- Contact the service provider (beyond the system)Â
- Return for reprocessing
- Cancel the application
|
| Bank account verification expired (101) | - The bank account defined for the loan application has not been confirmed within the defined period
| The loan application is closed | Archive | Final status |
| Reprocessing  (2) | - 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
|
| Waiting For Approval (4) | - 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)Â
| - 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 reprocessingÂ
- 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 | Underwriting | - 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 | Archive | Final status |
| 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
| Archive | Final status |
| 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 Â
| We are waiting for the customer to sign the agreement | Underwriting | - 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 | Archive | Final status |
| Agreement expired (20) | - The agreement has been sent to the customer
AND - The customer has not signed the agreement within the defined time period
| The loan application is archived | Archive | Final status |
| Waiting for Down payment (23) | - The customer has confirmed the offer (if required)
- The credit product requires a commission of a "Down payment" type
| The loan is waiting for a Down payment. | | - Contact the customer
- Register payment in the systemÂ
- Cancel the application
|
| Approved (5) | - 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 UnderwriterÂ
| | - Initiate disbursement (Servicing)
- Reject (Underwriting)
- Cancel the application
|
| Rejected (6)
| - 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
| | - 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
- CancelÂ
- Register collection of the full amount of the investments in the system
|
| Disbursement in Progress (14) | Back-office user has initiated disbursement over a third-party system | Disbursement of the loan via a payment system is currently processing. | Servicing | |
| Disbursement Failed (13) | - Back-office user has initiated disbursement over a third-party system
AND - The disbursement has failed
| The flow is back to the state where it was before the disbursement
| Servicing | - 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)Â
- Collection (if there are any past dues)
| - Register paymentÂ
- 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)Â
| - Register paymentÂ
- Restructure the loan
- Set the loan as paid-off
- Set the loan as repaid
|
| Repaid (9) | The loan is fully repaid and closed. | Archive | Final status |
|
| Written off (10) | The loan was automatically or manually written off and closed. | Archive | Final Status |
|
| Customer deleted (21) | The loan is closed because the customer has been deleted. | Not visible | Final status |
|
| Canceled (22) | The loan is canceled and closed at any of the stages above | Archive | Final status |
|