1. Lease Origination User Guide
  2. Funding
  3. Funding Screen’s Master Screen

8.3 Funding Screen’s Master Screen

The Funding screen’s master screen displays information from the Application Entry and Underwriting screens, such as the application number, product and producer. It also contains the Status field that allows you to change the status/sub status of the application and begin the funding process.

Figure 8-1 Funding


Description of Figure 8-1 follows
Description of "Figure 8-1 Funding"

For details on this screen refer Applications section in Underwriting chapter.

After opening the Funding screen and loading the application you want to work with, you must change its status to APPROVED - VERIFYING before you can begin the funding process. This allows you to begin working with the application.

To change the status and begin work on the application on the Funding screen
  1. Open the Funding screen and load application you want to verify.
  2. In the Funding screen’s Applications master screen, use the Status field to select APPROVED - VERIFYING.
  3. Click Save on the Funding screen.

    You can now begin making changes to the application.

Funding an Application

After you have verified the application, entered the contract information and completed the contract edits, the application is ready to be funded. Applications can be approved automatically or manually. To manually fund an application, change the status to APPROVED - FUNDED.

After an application is funded, the Lease origination cycle is over. The system moves the application to the Lease servicing module (Customer Service form) where it receives an account number. The system also automatically creates a check requisition for the funded account.

Funding tasks
  1. Load the application on the Funding form
  2. Change the status and initiate Funding process
  3. Verify the applicant information
  4. Complete Contract (5) details
  5. Verify the documents
  6. Generate letters
  7. Attempt to change the application status
  8. Verify edits
  9. Complete Funding

After you approve the application, the information on the Decision tab is unavailable. The application remains in this status of Approved - Verified until a user (usually a supervisor) changes the status to Approved - Funded. When the status is changed to Approved - Funded, the account is created.

Parent topic: Funding