Loading
Table of Contents
Filter by (0)Add
Select Filters

          No results
          No results
          Here are some search tips

          Check the spelling of your keywords.
          Use more general search terms.
          Select fewer filters to broaden your search.

            Search all of Salesforce Help
            Search all of Salesforce Help
            Pre-Loan Origination Data

            You are here:

            1. Salesforce Help
            2. Docs
            3. Financial Services Cloud Admin Guide

            Pre-Loan Origination Data

            Before your users can start with the loan origination process, it’s essential to set up specific data that’s required during the loan origination lifecycle. The data includes the loan products offered, data use purposes, authorization form text, product fees, terms, and deviations.

            Required Editions

            Available in: Lightning Experience
            Available in: Professional, Enterprise, and Unlimited Editions
            • Set Up Loan Products
              Create products for the loan types that you offer to your loan applicants. For example, if you offer personal loan and home loan, create a product record for each loan type.
            • Set Up Deviations for Loan Products
              Create the deviations applicable for loan products so that your underwriters can review and offer tailored loan products that better match an applicant’s profile.
            • Set Up Product Fees for Loan Products
              Add the various charges associated with loan products that an applicant is required to pay during the application approval and servicing processes. For example, create product fee records to include a range of costs, such as processing fees, origination fees, and underwriting fees. A clearly defined product fees setup ensures that applicants understand the costs associated with their loans.
            • Set Up Terms and Conditions for Loan Products
              Create term records to outline the conditions and expectations that the applicant must fulfill during the loan tenure. For example, if you don’t want the applicant to repay the entire loan amount within three years, then create a term record with a lock-in period of three years. Similarly, if you want the applicant to pay 50% of the interest within five years, then create a term record with Repayment 50% of interest within five years.
            • Associate Terms with Loan Products
              Create term related object records to establish a link between a loan product and a term.
            • Consent and Disclosures for Digital Lending—India
              Make sure that a loan applicant’s data is transparently collected, processed, and used in compliance with data protection regulations. Define the purpose of data use and obtain explicit consent through authorization forms and authorization form texts.
             
            Loading
            Salesforce Help | Article