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Explore the Underwriter Console in the Vehicle and Asset Lending App
Underwriters at a captive finance or a banking organization can use the Vehicle & Asset Lending Console app to assess each application submitted by applicants, analyze the risk and eligibility, and design offers for a loan or lease. Review the key information available on an Application Form Product record page that help underwriters in their daily job.
Required Editions
| Available in: Enterprise, Unlimited, and Developer Editions. |
Underwriters often use disparate systems and multiple applications to analyze an applicant’s credit history, verify income, submit supporting documentation, and gather personal data to determine if they qualify for a loan or lease. The customized Application Form Product record page is a console that streamlines the decisioning process and helps underwiters analyze applications faster and with improved accuracy.
Key Insights
The Key Insights card provides a snapshot of the information that's most essential to an underwriter during the decisioning of a loan or lease information. The card displays the application tier type, and the cumulative debt-to-income ratio, loan-to-value ratio, and income-to-expense ratio of all applicants for an application.Admins can customize the flexcard and its related data mappers and integration procedures to add additional key insights.
Application Details
The Application Details card shows the key information about the vehicle that's being financed. Details such as the make name, model name, and model year are inportant for an underwriter to evaluate the application's eleigibility. The card also displays the mileage, condition, and vehicle identification number for trade-in or used vehicles. The card also shows the intended use and the manufacturer's suggested retail price for the vehicle.
Applicant Details
The Applicant Details card shows the key information about each primary aapplicant and co-applicant for a lease or loan application. Details such as the first and last name, email address, contact information, primary identification type and name are available.
Applicant Profile
The Applicant Profile card shows detailed information about each primary aapplicant and co-applicant for a lease or loan application. The Know Your Customer (KYC) information, employment and income details, credit score, expenses, assets and liabilities, and additional income, help underwriters assess the risk for a loan or lease. They can add stipulations to the proposals based on information related to an applicant's profile. For example, by analyzing the liabilities and income for the primary applicant, the underwriter can add a stipulation to add a guarantor to the application for a loan.
Proposals
The Proposals card shows all pre-qualified and final proposals for an application. The underwriter can view the terms of each proposal, such as the loan or lease payment amount and term, monthly payment, estimated interest rate and amount, and validity end date. They can also create proposals or clone existing proposals to modify the terms. For each proposal, the underwriter can also add stipulations to either improve the chances of an application, or alter details based on negotiations with dealers and customers.
Documents
The Documents tab shows the identity proof documents for each primary aapplicant and co-applicant for a lease or loan application. The underwriter can check the required documents for an application and verify the details.
Related
The Related tab shows all records related to an application form product, such as the participant groups who review the application, the seller items that list the financial assets related to the application, the fees and the document checklist items related to the product.
Application Action Items
The Application Action Items component shows all actions either assigned to an underwriter or assigned by the underwriter for an application form product. Action items can be assigned to review the proposals, update the application details, or to reject or delete the application.
