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Decisioning
Information
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Decisioning
ACCELERATE tenant screening with an automated rule-based decisioning process.
FINISH the process with automated letters.
What are the benefits of decisioning?
Decisioning is the primary driving force behind lending or screening.
With over 100 decisioning rules, you cannot only decision applications
in real time, but it is also possible to detect fraud, verify application
data, screen against OFAC. Early disqualification of applicants reduces
cost and increases productivity.
• Prescreen for unqualified
applicants before submitting applications
• Reduce time and cost with
decisions in 1-3 seconds
• Limit credit report exposure
• Consumer and commercial
lending
• Automatically send declination
letters
How does it work?
1 - The application is first prescreened, verified and checked
for fraud*
2 - If prescreening passes, the application is submitted to the bureau
3 - The resulting data is checked against pre-defined levels and assigned
a decision when the first level passes
4 - If setup, an e-mail alert may be generated for different decisions
or a declination letter automatically printed or sent
With prescreening, application data is checked and verified before requesting
a report. Rules includes application requirements, e.g., income and length
of residence, OFAC screening, bankruptcy screening, social security validation
and fraud detection.
Declination Letters
Send ACCEPTANCE or DECLINATION letters and/or e-mails automatically..
How can I use letters with automated decisioning? Acceptance or declination letters can be attached to levels within a Decision Table. Each level can be assigned a letter template created by you. With this template, applicants can be notified of their status and/or any products for which they qualify.
Can I send letters manually? Yes, letters can be sent directly from the application list or while viewing a report. Letters can also be batched from the application list.
How much control do I have over the letter's content? Letters are based on a standard block style business letter. Other than that, you have complete control as to the header, body, closing and footer. Fields from the application, report and decision can be inserted anywhere into the body. Enclosures also allow for a credit report to be sent with the letter to adhere to FCRA regulations when a decision was made for employment purposes.
What other benefits are offered with letters? E-Mails can be generated in combination with a letter or by themselves to notify customers instantly of their status.
Prescreening and Decisioning Rules
| • Age of Applicant
Time at Current Residence • Time at Current Job • Type of Housing • Total Gross Monthly Income • Number of Paid Accounts Closed • Number of Unpaid Accounts Closed • Number of Disputed Accounts Closed • Requested Credit •Allow Bankruptcy on Application •Allow Foreclosure on Application •Allow Repossession on Application Applicant State(s) |
• SSN Screen • Retail NSF Screen • Accounts cannot be closed for... • Authentication Score • High Risk Address Screen •High Risk Phone Screen • OFAC Screen Address Verification • Driver's License Verification • Phone Verification • SSN Verification • Date Of Birth Verification |
Credit Data Variables Criteria
| • Number Of Trades
Currently Past Due • Number Of Trades Currently 60+ Past Due • Number Of Trades 90-180 Days Delinquent or Derogatory Account Including Repossessions, Charge-offs, and Foreclosures, Excluding Collections • Number Of Delinquent it Trades With Maximum Delinquency Ever Of 30 Or 60 Days • Number Of 30 Days or Greater in Last Year on Any One Trade • Number Of 60/90 Days or Greater in Past 12 Months • Number of Disputed Accounts Closed • Number Of Collection Trades • Number Of Trades Never Reported Negative • Number Of New Trade Line Opened In The Last 6 Months •Age Of Oldest Trade |
• Number of Tax Liens
• Number of Judgments In Last X Months • Number of Charge Offs In Last X Months • Total Revolving Balance • Number of Inquiries in the Last X Months • High Risk Phone Screen • Number of Garnishments In Last X Months • Number of Opened Public Records In Last X Months • Number Of Inquiries Within 6 Months • Revolving Trade Utilization Ratio • Debt to Income Ratio using Monthly Mortgage from Application • Number Days Beyond Term • Number of Tradelines • Number of Collections |
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