Lender*VP Top Ten 2016

We kicked off the Lender*VP Top Ten priorities back in 2010 and continue to plan for future enhancements to the lending functions in CU*BASE. Below are the top ten lending priorities for 2016. Please review the commentary for each project and add your comments!

See the list of LOS enhancements from the 2016 Leadership Conference

1. Expand Loan Product Defaults

Current Status = In production with the 16.05 release

Expand what can be controlled via the Loan Product Configuration, including:

More default values to flow into new loan requests
Controls to hide or display data fields on the loan request pages
Controls to lock fields to prevent accidental changes to default values
“Warn if empty” controls on key fields that might be forgotten
Default loan forms by product

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2. Improvements to Loan App Household Database

Current Status = In production with 16.05 release

Update the process where information comes in from an external loan application and the member already has household information on file at the credit union. The References file is expanded to a format similar to the Employment file where an unlimited number of references can be added. Both the Employment and Reference file will contain a field to identify if the data came from an external source.

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3. Add Filters for 247 Lender

Current Status = In production with 16.10 release

This project adds new types of filters to control when and how a 247 Lender Decision Model will be pulled, as well as how the system will evaluate a member’s loan request and return a response to the loan officer for additional action.

There are 2 distinct segments to this project:

More 247 Lender Requirement Filters – determines the member’s creditworthiness, are there any red flags the preclude the CU from even running a decision in the first place?
New Loan Request Filters – helps to determine the viability of the loan request, assuming the member is creditworthy, is the loan request something that the CU wants to take on?

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4. Fund Deposits and Payments via Member Debit/Credit Cards in It’s Me 247

Current Status = In specifications phase

This project is to develop a process in It’s Me 247 for allowing debit or credit cards (plastics) to be used for payments and deposits.

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5. Indirect Lending Integrations

Current Status = Dealer Track Two-way Communication in production with 16.02 release, future projects in specification phase

The first project is to allow for two-way communication between the credit union and the indirect dealer. The back-and-forth conversation regarding the loan decision is stored with collateral comments and can be reviewed after the loan is created.

Future projects include:

Expand the data that we capture from indirect delivery channels
Ability to import loans from an external LOS into the CU*BASE loan application

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6. Automated Collateral Valuation via NADA

Current Status = In production with 16.10 release

This project adds a new process where collateral values from NADA (National Automobiles Dealer Association) are pulled directly into the collateral record in CU*BASE. This vehicle valuation can be done at the time of loan origination or during the term of the loan.

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7. Decision Model Second Solution

Current Status = Envisioning stage

In addition to our current 247 Lender decision model, we are reviewing other decision model offerings in the marketplace.

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8. Expansion of Off-Trial-Balance (OTB) Loans

Status = In process

As part of the OTB Total Look initiative, we will be expanding the OTB loan file to bring in transactions and also co-borrower information. OTB loan accounts will be able to be viewed directly on the main Inquiry and Phone Operator screens, and OTB loan balances will be included in the Loan Concentration Analysis dashboard.

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9. Escrow Format for PMI

Current Status = In production with 16.10 release

A new escrow format type of PMI (Private Mortgage Insurance) was developed. That way it will be easier to differentiate PMI from other escrow format types such as tax or insurance.

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10. Automatic Stepdown/LOC

Current Status = Beta for Notre Dame with 16.02, released to all other CUs with 16.05

This project develops a new line-of-credit (LOC) product that has an automatic stepdown each month meaning that the disbursement limit gets reduced each month based on the amortization term. The loans are interest only and will follow all the existing rules for interest only loans.

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