Need a tool to streamline and automate the loan application, underwriting, and approval processes? With AccuApproval, you can run pipeline reports that track the entire loan approval process. AccuApproval is fully integrated with AccuAccount, document preparation systems, core systems, and third party underwriting apps.
AccuApproval offers several important advantages to banks. First, AccuApproval assists in streamlining the entire loan process. The tool has been shown to significantly reduce time required for loan underwriting and approval. Documents can be scanned (either centrally or at the branch level), thus eliminating the need to transport physical documents. In addition, AccuApproval ensures that all of your required documents have been received and scanned before the loan request is routed to underwriting. Also, credit documents can be automatically set up through credit entities such as sole proprietor, municipal, or LLC. AccuApproval allows your bank to utilize multiple underwriting applications. In summary, AccuApproval provides your bank with a “snapshot” of the entire loan approval process. Learn how AccuApproval can streamline the following processes in your bank:
- Loan Application Process – As requested credit documents arrive, they are scanned into AccuApproval. Documents can be tracked and reports on missing documents can be pulled.
- Underwriting Process – The underwriter can view and print scanned documents. When completed, the underwriter simply uploads the spreads and write-ups into AccuAccount.
- Loan Approval Process – AccuApproval directs loan applications based on an aggregate amount. If the loan exceeds the lender’s authority, the application is routed to the correct party for approval.
- Core Synchronization – After the loan is signed and booked into the core, AccuAccount synchronizes with the core. Any additional changes in the core are automatically updated in AccuAccount.
- Email Reports – Detailed e-mail reports are available to track all loans in process and notify users of needed actions.
AccuApproval will streamline your loan approval process. Getting started with AccuApproval is simple.