Enhanced Loan Application™
An efficient, automated tool for managing and completing loan applications
Symitar’s Enhanced Loan Application (ELA) solution handles the setup of a new loan for a credit union member. This software provides a user-friendly interface and efficient workflow to manage the entry and completion of a loan application.
The ELA software provides all the functions necessary to collect member information, pull credit reports, manage member liability data, provide automated approval criteria, assign lending rates based on risk, collect collateral information, fund the loan, create the loan in Episys, and generate, print, and image loan documents.
ELA's annual subscription plan includes phone support, access to template updates, and up to 30 hours of custom requirements, estimating, and programming time per year. This covers integration with Refi Analyzer™ as well as other products and services.
Core compatibility: Episys®
What It Does
- Automatically handles the setup of a new loan for a credit union member.
- Supports open-end lending (Master Loan Agreements) for uploading a master application into subsequent applications.
- Supports up to 15 application types with credit union-defined workflows.
- Uses Episys’ Credit Retrieval System to pull both individual and joint credit reports.
- Includes payment calculation options by payment amount, term, or loan amount, and balloon payment.
- Includes automatic approval based on a wide array of credit union defined criteria.
- Includes risk-based lending based on loan type, loan-to-value, loan term, vehicle year, and credit score.
- Supports creation of vehicle, home equity, and mortgage tracking records.
- Provides phone support, template updates, and customization assistance.
What It Does For You
- Provides a user-friendly and efficient workflow to manage the entry and completion of new loan applications.
- Shortens the loan application process to minutes.
- Reduces errors in the loan process.
- Integrates with optional product interfaces to further streamline the loan process and reduce duplicate entry.
- Helps you deliver the best loan service to your members.