Loan origination
The desk reads the application and every document the borrower uploads, verifies income, assets and debts across all of them against your lending guidelines, and drafts the conditions an underwriter would ask for.
Why it's hard
In the demo
The income on the application doesn't match the pay stubs, and a large deposit on the bank statement has no source. The agent finds both and writes the two conditions.
How the desk runs it
The application and the documents the borrower uploads open one loan file: application, pay stubs, tax forms, bank statements, ID, appraisal.
The agent recalculates income from each source, matches deposits to stated income, checks identity across documents, compares the appraisal with the loan amount, and pulls the credit report from your loan system.
It proposes a decision and lists each condition with the guideline behind it.
An underwriter approves the decision or edits the conditions.
A conditions letter to the borrower; once conditions clear, closing documents go out for e-signature.
Everything is filed to the loan file.
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