Viewing Credit Offer Details
The
Credit Offer Details pane on the
Application page contains information on a credit offer made to a customer.
Use the options in this pane to evaluate the applicant or co-applicant and purchase a CRA report or enter a counter offer.
The
Requested Offer column contains the details of the offer to the customer. The
Requested Offer column shows up in either of the following application statuses:
- Pending Review Resolution
- Pending Credit Offer Entry
- Pending Approval Archive
The offer can be any of the following:
- A copy of the credit request made by an applicant.
- A copy of the system offer generated by the Decision Module, if you have purchased this module. The System Offer column appears when there is an offer from Decision Module.
- A copy of the counter offer entered by an Application Processing Module user with permissions to do so. The Application Processing Module user should have the Application Offer role to be able to do so.
The
Counter Offer column contains fields where you can manually determine and enter the following information as an offer in response to the requested offer made to the customer:
- Product name: The credit product to submit for the application.
- Credit limit: The maximum amount of credit extended to the customer for the application.
- Loan payment type: The type of payment offered to the customer for the application, for example, Principal and Interest.
- Minimum monthly payment percent: The minimum monthly payment percentage offered to the customer for the application.
- Rate type: The type of rate offered to the customer for the application, for example, Fixed or Variable.
- Cash advance rate: The percentage rate offered to the customer on a cash advance.
- Cash advance rate term: The term offered to the customer, in months, for the cash advance percentage rate.
- Introductory rate: The percentage rate offered to the customer for the introductory period.
- Introductory rate term: The term offered to the customer, in months, for the introductory percentage rate.
- Interest rate: The interest rate percentage value offered to the customer for the application.
- Fees: The fees associated with the application. There can be multiple fees per application. (Fees in the Fees table are determined automatically by the product, or are manually entered.)
- Total fees: The amount of total fees included for the application. These values are generated by the system based on the offer information.
- Finance fee amount: The amount of fees financed by the customer for the application.
Pricing constraint options are determined automatically by the product.
For small business credit applications, additional check boxes appear displaying options to re-evaluate the business, and the principals individually.