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Decisioning, Underwriting, & Workflows

LoanVantage uses business rules to guide an application through the lending process and ensure the right information reaches the right people at the right time. Additional decisioning support uses automated logic to process information quickly and accurately.

  • Automated Decisioning with Loan Options: After credit is pulled and debt/income is input, the system evaluates configurable Loan Options that meet the financial institution’s criteria and presents them to the applicant on the results page.
  • Counteroffer Logic: If the decision returns an amount lower than requested, a counteroffer is presented, and the system records the counteroffer details (amount, term, and rate) for tracking.
  • Underwriting Ratios: Supports underwriting ratios that are calculated for consumer loans using the borrower’s Income & Expenses and Debt Schedule extracted from the application and credit report.
  • Payment Calculation Engine: LoanVantage uses a calculation engine (Carleton Calcs) to determine accurate payment amounts and APR values for the loan options presented to the applicant.
  • Integrated Credit Protection: When loan options are calculated, the system can include options for Protection Coverage Options (e.g., life insurance, A&H insurance) with the total payment reflecting the added premium.
  • Mobile Access: The LoanVantage mobile app provides lenders with alerts and access to approval and loan presentation reports, speeding up the decision process even while your lenders are on the go.
  • Tax Return Reader: Optional integration to enable scanning of tax returns for initial application and annual reviews.

How it Works

Financial Analysis & Risk Rating

Underwriting for consumer loans in LoanVantage uses automated data ingestion to calculate ratios, score the application, and simplify the credit decision process, largely eliminating the need for manual financial spreading. Use the Risk Analysis menu in the Administration system to manage your risk analysis configurations, including:

  • Credit decision ratios with the option to determine which ratios should be shown/hidden on the front end, as well as determine the minimum and maximum values for each ratio.
  • Interest rate matrix that defines the rate that should be used with each facility based on items such as business rules, dollar amounts, and term lengths.
  • Rate exceptions that ensure credit approvals are only processed if rates have been reviewed, preventing unauthorized rate submissions and maintaining compliance.
  • Risk rating matrix that provides a file credit grade rating on a loan request, based on the primary business score and the average personal credit scores. If a risk rating recommendation is overridden by a user, the system records the reason for the override and can include this information on the final presentation report.
  • Credit score risk rating matrix that provides a file credit grade rating on a loan request, based on the primary business score and the average personal credit scores. The calculation looks at borrowers, co-borrowers, and guarantors.
  • Scorecards that provide flexibility and detail to customize an applicant’s scored result based on factors such as credit score, time in business, average balance, collateral value, etc. Scorecards can be used for the online application and the Loan Wizard.

Spreading

Spreading in LoanVantage is a powerful credit analysis solution designed to streamline and standardize the analysis process for consumer, commercial, and agricultural loans.

Financial spreading resides under the party profile for individuals and businesses. It consists of tax return, traditional cash flow, UCA cash flow, global cash flow analysis, RMA data comparisons, and financial ratios. Commercial real estate and asset-based lending spreading reside under the collateral level. They consist of rent roll analysis, property spreading, breakeven analysis, interest rate stress test, vacancy stress test, and borrowing base spreading.

The options within Financial Spreading are slightly different for an individual than for a business. For both personal and business spreads, information can be entered directly into the various financial types or entered in the tax return. By entering information in the tax return, you can use LoanVantage transfer functionality to populate the balance sheet, income statement, and cash flow automatically.

Additional financial pages may be available for business customers. The Personal Financial Statement must be completed by directly inputting the applicable information.

Your financial institution can set the spreading precision in actual, thousands, or millions of dollars. Additionally available functionality includes:

  • Adding a Period: To begin spreading personal and business financials, one or more periods must be created. Periods can be created for all tax return forms and financial statement types (e.g., balance sheet, income statement, personal financial statements, etc.) in the same manner.
  • Copying a Period: When adding additional spread periods for personal and business financials, historical periods can be copied. Periods can be copied for all tax return forms and financial statement types (e.g., balance sheet, income statement, personal financial statements, etc.) in the same manner.
  • Entering a Personal Financial Statement: Create the statement so that you can manually enter the data.
  • Personal Tax Return (1040): Use this information for personal tax returns.
  • Combining Tax Return Subschedules: Various tax return subschedules can be combined, merging schedules with spread information in different spread periods.
  • Personal Cash Flow Statement (Transferred from 1040): After the transfer is complete, you can access the personal cash flow.
  • Business Tax Return: Use this information for business tax returns.
  • Reconciliation of Income (Loss) to Book: Once the business tax return has been transferred, confirm that the income statement has been correctly transferred. The net income reflected on the income statement reflects the net income (loss) per book reflected on the tax return.
  • Business Financial Statements: Use this information for business financial statements.
  • Completing the Cash Flow
  • Completing the Agricultural Earned Net Worth Cash Flow
  • Global Cash Flow: The Global Cash Flow is used to compute a cash flow value for all customers included in the file.
  • Additional Cash Flow Statements: The UCA Cash Flow, UCA Cash Flow Summary, and the FASB direct and indirect formats are derived statements from data entered for the tax return that is then transferred to the balance sheet and income statement.
  • Financial Ratios: The Financial Ratios statement is also derived from data entered for the tax return and then transferred. LoanVantage calculates ratios relating to liquidity, leverage, coverage, profitability, and growth.
  • Prosight Comparisons (formerly RMA): Prosight industry comparisons are available under the Analytics option.
  • Mini Financials or Min-Fins: Specific lines of a financial statement can be included in the narrative section of reports via the LoanVantage Word add-in.
  • Lock Financial Spreads: Financial statements can be locked to prevent multiple users from spreading data at the same time.
  • Projections: LoanVantage supports several projection types.
  • Spread Printing
  • Asset Based Lending Spreading: Asset Based Lending (ABL) spreading is performed at the collateral level through a borrowing base.
  • Collateral Detail: The CRE functionally is located under the collateral details page.
  • Reports: There are several different reports that can be printed for Commercial Real Estate.
  • 1040 Tax Return Transfer to the Personal Cash Flow
  • Financial Ratio Definitions
  • LoanVantage Narrative Icons in Microsoft Word
  • Commercial Real Estate Spreading:
    • Rent Roll View: The Rent Roll View displays several tabs of information that are populated once a rent roll and/or spread have been completed.
    • Collateral Spreading: CRE historical spreads reside at the collateral level. If spread data has been entered for a collateral item and that item is added to another loan, the spread data is available when viewing an existing or new loan.
    • Advanced CRE Spreading: These features are advanced CRE spreading features and may or may not be something your financial institution uses.
    • CRE Analysis: Utilizes information from the transaction to determine breakeven formulas, interest rate and vacancy stress tests.
    • CRE Permissions: These permissions are for Commercial Real Estate (CRE) features.

Tax Return Reader

Offered as an optional add-on in conjunction with FlashSpread, Tax Return Reader uses optical character recognition (OCR) to reduce the time spent on manual entry by directly transferring data into LoanVantage from scanned returns.

Tax Return Reader is programmed to read the most common returns you process for your loans and their associated borrowers or guarantors. The supported forms include:

  • Personal Returns: 1040
    • Schedule 1
    • Schedule A – F
    • Form 4835
  • Corporate Returns: 1120 – 1120s – 1065
    • Schedule L
    • Schedule M1/M2
    • Form 1125-A
    • Form 8825

Importing Returns Tax forms can be imported into the Tax Return Reader in three ways:

  • Through the Tax Return Reader module by adding a new period, then dragging and dropping the returns
  • Pulled in via the Reporting Requirements section of LoanVantage (for existing relationships only)
  • Via the LoanVantage Online Portal if existing borrowers upload their returns digitally

Status Messages Tax Return Reader users will see the results of the system uploads immediately after processing is complete. System status messages include:

  • Processing
  • Upload Successful – No Errors
  • Needs Attention
  • Upload Successful – Please Validate
  • Sent to Review
  • Review Complete
  • Failed

Data Quality Once a return has been processed by Tax Return Reader, the system will automatically call out areas that need attention. The flexible Data Quality Module (DQM) can be configured to indicate how many corrections you’d like to make in-house before all others are sent via an encrypted channel to FlashSpread for manual correction.

You can expect edits from the Data Quality team to arrive quickly – usually between five to twenty minutes. If you’re not interested in using the DQM, just let us know during your implementation process and we’ll turn it off before you go live.

Collateral

Collateral within LoanVantage acts as a central hub for managing assets pledged against loans, supporting the entire commercial lending lifecycle from application through closing and ongoing monitoring. The system allows collateral records to be created, imported from a core system, and linked to specific loan facilities. Key functions include calculating real-time risk metrics like Loan-to-Value (LTV) and Collateral Coverage, handling cross-pledged assets, tracking appraisals and site visits, and integrating with specialized third-party services like Vehicle Valuation (J.D. Power) and Flood Determination. This centralization ensures a comprehensive and accurate valuation and tracking mechanism for risk management.

Key collateral management features in LoanVantage include:

  • Centralized Collateral Records: Collateral information can be downloaded from the core system for existing loans or added manually. Once created, it is accessible from the main relationship file and linked to specific facilities.
  • Collateral Categories and Types: The system uses predefined categories (e.g., Property, Titled, UCC) and types to determine what additional fields and specialized functionality appear for data capture (e.g., Spreading Model appears for property).
  • Real-Time Risk Calculations: Calculates critical metrics on the collateral record, including:
    • LTV (Loan-to-Value).
    • LTDV (Loan-to-Discounted-Value)
    • CLTV (Combined Loan-to-Value).
    • Collateral Coverage and Discounted Collateral Coverage.
  • Collateral Summary: A high-level summary that tracks total exposure of loans linked to the pledged collateral, senior liens, total collateral value, and cross-pledged calculations.
  • Third-Party Integrations: Connects with specialized external services for data validation and risk assessment:
    • Vehicle Valuation (J.D. Power): Available for vehicle collateral to search by VIN or Vehicle Selector, return market values, and generate a Valuation Report.
    • Flood Determination: Allows users to create a flood request (New Request, Related Request, or Inquiry) and receive determination information on property, titled, and UCC collateral.
    • Geocode the Address: Uses U.S. Census data to obtain MSA, Census Tract, and County/State ID information for property collateral.
  • Appraisal and Site Visit Tracking: Supports tracking Appraisal Requests (including appraiser details and report type) and managing Site Visit Records (for annual visits, initial inspections) with options to upload photos and print reports.
  • LTV/Appraisal History: Tracks historical and current collateral values by capturing updated appraisal information, helping analyze LTV changes over time.
  • Cross-Pledged Collateral Tracking: The system tracks collateral that secures multiple loan facilities by listing the asset under each relevant facility.
  • Internal Deposit Collateral: Allows linking an existing open deposit account as collateral, where the system monitors the Deposit Account Number and Hold Amount.

Vehicle Valuation

Integrations allow users to obtain the value of a vehicle through an optional third-party service provided by J.D. Power.

When a loan contains titled collateral for a used vehicle, the Vehicle Valuation becomes available within the collateral record on the Loan Request. Entering the vehicle information and submitting the request will return a JD Power value based on the settings entered.

To use this service an Administrator must access the Vehicle Valuation Setup interface and define three fields:

  • Vehicle Valuation Service: Select J.D. Power
  • Region Code: Choose from one of the available region codes to receive region-specific pricing
  • Vehicle Default Value Quality: This field is optional and if set, the value selected acts as the default in the Vehicle Valuation dialog box in the collateral record. Users are able to see the other available values in the modal, but they cannot select anything other than the value selected in this field. If this field is not set, the user can choose any available value in the Vehicle Valuation dialog box.

Flood Determination

LoanVantage interfaces with flood providers to provide property flood determination certificates. Third-party providers currently supported include American Flood Research, CoreLogic, DataVerify Flood Service, and Service Link.

The Flood Results sub-report is available to provide Flood Certificates in the presentation report. The administrator must make the Flood Results sub-report available for the selected presentation report package. The Flood Results sub-report displays when the Flood Certificate is generated and the Include in Report check box is selected in the Collateral Summary.

Each of the flood providers offers a different set of settings that are available for modification.

  • American Flood Research
    • American Flood Research URL: The URL to connect to American Flood Research (AFR).
    • Login ID: The login used for authentication.
    • Login Password: The password that corresponds with the Login ID.
    • MISMO Version: The version of MISMO used by the interface. The current version is 2.4.
    • Default Product Type: The product type used by the bank.
    • Default Upgrade Type Code: The upgrade type used by the bank.
    • Prompt for Rush Delivery: If selected, the user can request rush delivery.
    • Prompt For Product Type Code: If selected, the user is prompted to select the product type and/or the upgrade type when submitting a request to AFR.
    • Send Loan Number in Loan Identifier: If selected, the loan number is sent in the lender case identifier instead of the facility number.
  • CoreLogic
    • CoreLogic URL: The URL to connect to CoreLogic.
    • CoreLogic Login ID: The login used for authentication. This value is provided by CoreLogic.
    • CoreLogic Password: The password that corresponds with the CoreLogic Login ID. This value is provided by CoreLogic.
    • MISMO Version: The version of MISMO used by the interface. The current version is 2.4.
    • Product Type Request: The product type used by the bank.
    • Billing Branch: The designated branch is always sent to CoreLogic in place of the file page branch.
    • Lender Identifier: This value prints on the FEMA form Section I, Box 3.
    • Error Contact Phone: The phone number of someone at the institution to contact if there are communication errors.
    • Prompt For Product Type Code: If selected, the user is prompted to select a product code when requesting flood.
    • Flood Determination Receipt Method: Select one or more preferred responses from CoreLogic. Options include:
      • File: Always select this option so that the flood report is returned and is saved in LoanVantage for viewing.
      • Fax: Fax number for the user is sent to CoreLogic.
      • SMTP: Email for the user is sent to CoreLogic.
    • Contact for Request For Additional Information: If additional information is required to process the request, the Administrator can indicate how to route the request. The email, phone and or fax number of the user are sent as contact information to CoreLogic if selected.
  • DataVerify Flood Service
    • Provider: This value indicates the type of customer and is informational only: Data Verify or Factual Data.
    • DataVerify Flood Service URL: The URL to connect to the DataVerify Flood Service. DataVerify Flood Service has a separate URL for testing and production environments.
    • Login ID: The login used for authentication.
    • Login Password: The password that corresponds with the Login ID.
    • MISMO Version: The version of MISMO used by the interface. The current version is 2.4.
    • Default Product Type: The product type used by the bank.
    • Default Upgrade Type Code: The upgrade type used by the bank.
    • Prompt For Product Type Code: If selected, the user is prompted to select the product type and/or the upgrade type when submitting a request to DataVerify. This value overrides the defaulted values set in Admin.
    • Send Loan Number in Loan Identifier: If selected, the loan number is sent in the lender case identifier instead of the facility number and property address.
  • Service Link
    • Service Link URL: The URL to connect to Service Link. Service Link has a separate URL for testing and production environments.
    • MISMO Version: The version of MISMO. The current version is 2.1.
    • Product Type Request: The product type used by the bank.
    • Lender Identifier: This field is not currently used.
    • Error Contact Phone: The phone number of someone at the institution to contact if there are communication errors.
    • Prompt for Rush Delivery: If selected, the user can request rush delivery.
    • Prompt for Life of Loan: If selected, the user can request Life of Loan.
    • Send Loan Number in Loan Identifier: If selected, the facility loan number is sent instead of the facility sequence number.
    • Send Simplified Identifier: If selected, LoanVantage only sends the loan number or facility number in Lender Case Identifier instead of including the collateral address information. Select this option only if duplicate detection logic is turned off at Service Link.

Tasks, Activities, and Work Queues

Work Queues

The Work Queue component in LoanVantage is a dynamic, user-customizable query builder designed as a central reporting and tracking tool. It functions by running complex, multi-layered queries against various types of LoanVantage data such as files, loans, activities, and documents to create filtered lists of tasks or data records.

Work Queues are essential for managing sales pipelines, monitoring compliance efforts like overdue required documents, and supporting overall workflow by grouping information based on user-defined criteria and permissions. They can be displayed as interactive widgets on the Home Portal, providing users with a snapshot of real-time data.

Work queues are permission-based, so different users will have access to different work queues, which can be assigned to individual users and/or teams. These permissions are managed by your LoanVantage system administrator.

Key Work Queue features include:

  • Customizable Query Builder: Work Queues are built using a query tool that supports one or more conditions (filters) per query to create subsets of data.
  • Centralized Reporting/Tracking: Used for ad hoc reporting and overall tracking of different data types, including loans, activities, engagements, policy exceptions, required documents, and more.
  • Home Portal Integration Widgets: Queues can be Pinned to Portal to appear as interactive widgets (e.g., Lead Pipeline, Applications Received) on the LoanVantage home screen, providing users with a real-time snapshot of data.
  • Targeted Assignments: Can be specifically assigned to individual users and/or teams based on permissions for focused workflow management.
  • Hyperlinked Data Access: Entries within a work queue often contain hyperlinks that allow users to directly navigate to the associated record, such as the party profile, collateral page, or loan request file.
  • Bulk Actions: Supports performing a Bulk Update to modify selected records like File Status or Analyst and generating a report of the completed updates.
  • Mass Communication: Enables users to generate and send mass mail and email merges to selected parties within the queue using predefined templates.
  • Print and Export Options: Allows for grouping and printing the queue data to PDF or Excel, with options to include subtotals, or mass printing existing Presentation Reports on file via the On File Presentation Report.
  • Customization and Persistence: Users can modify the column display and sorting preferences within a work queue, and the selected sorting persists even after navigating away.

Tasks, Activities, and Checklists

The Tasks, Activities, and Checklists component provides the essential framework for managing and standardizing internal loan processing workflows within LoanVantage. It functions as a dynamic checklist that guides users through a sequence of defined steps for any file type (e.g., Loan Request, Loan Review, WAM, CAR).

This feature breaks down the overall process into manageable tasks and smaller, individual activities, which can be assigned to specific users or teams. The component is crucial for ensuring compliance, communication, and timely completion of work by allowing users to update statuses, add notes, link supporting documents, and receive automated notifications for overdue items.

Key features include:

  • Customizable Checklists: Workflows are defined as Checklists, which are a sequence of tasks and activities unique to the institution’s culture and assigned per file type (process).
  • Workflow Granularity: The feature manages Tasks (groups of work) and granular Activities (individual pieces of work) that users carry out.
  • Assignment and Accountability: Tasks and activities can be individually assigned to a Team, User, or Officer.
  • Status Updates and Completion: Users can easily close tasks by selecting a check box or changing the status when the activity is opened.
  • Document Linkage: Activities can be explicitly linked to a required document. When a related document exists in the file, the user can update the document’s status directly from the activity interface.
  • Contextual Shortcuts: Activities can be linked to custom websites or other pages within LoanVantage using task associations, providing one-click access to external systems or internal file locations needed to complete the step.
  • In-Process Attachments: The Attachments area allows users to attach supporting documentation (e.g., .xlsx, .pdf, .docx) to the file at any stage of the process until the file is locked.
  • Late Notification Subscriptions: The system can send a summary email notification to the assigned user or team leader for any past due tasks and activities.
  • Dynamic Editing: Users can easily add new activities above or below an existing step directly within the checklist to accommodate ad-hoc or unanticipated work.

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