Summary
This document is a guide detailing the loan origination workflow checklist, which outlines the necessary stages and objectives for processing loan applications effectively. It begins with the application intake stage, emphasizing the importance of verifying applicant identity and ensuring all required fields are completed before advancing. The guide progresses through various stages, including credit decisioning, where it describes the process of pulling credit data and routing files for automated or human review. It also covers income and employment verification, collateral valuation, stipulation management, contracting and documentation, funding, and post-funding quality control. Each stage includes specific objectives and actions to mitigate risks, such as fraud checks and ensuring compliance with regulatory requirements. The guide aims to streamline the loan origination process, reduce errors, and enhance efficiency for lenders while ensuring a satisfactory experience for borrowers.
