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Energize your lending process with
Lender Advantage |
Comprehensive Lending Plaform |
Interested in processing more loans more
efficiently and accurately? The Summit lending solutions, Lender
Advantage and WebLoan24, provide easy-to-use workflows that automate the
assignment, analyses, loan approval, and processing of applications
received through the Internet, in-branch, phone, mail, third-party call
center and other channels.
Download PDF |
- Streamline loan origination for multiple consumer and real
estate mortgage loan types
- Fixed rate, variable rate and risk-based lending supported
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| Integrated for Fast, Efficient Processing |
Lender Advantage and WebLoan24 are fully integrated with the Summit
Spectrum core processing system to efficiently collect and analyze
application data and disburse approved loans.
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- Easy to access and manage loan queues
- Duplicate liabilities automatically excluded from calculations
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Improve Accuracy, Eliminate Redundant Data Entry |
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Loan applications originated through WebLoan24 are automatically
pre-filled with member data and available account and loan information.
Manual data entry is eliminated. Staff productivity is enhanced. |
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Automated Loan Decisions |
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Application information and credit bureau scores are accessed and
automatically analyzed. Within seconds a decision based on credit union
lending policies is presented to the member or loan officer. Loan
counter offers based on rate and term are automatically recalculated and
presented to the loan officer. |
- Automated, consistent lending decisions enhance loan portfolio
quality
- Credit reports automatically pulled
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Loan Documents Electronically Generated and Archived |
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Documents prepared and available at date, time
and location convenient to the member. Digital signatures fully
supported. |
- Print paper documents for the member only
- Digital signature capture
- Automatic generation and archiving
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Internet Loan Origination |
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WebLoan24 makes it easy for members to apply for
a consumer loan from the convenience of their home, office or wherever
an Internet connection is available. Broad range of consumer loans is
supported. Once booked, loans are automatically stored on the Summit
Spectrum system. |
- Non-member applications supported
- Short or long applications
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Risk-based Lending |
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Rates are automatically calculated based on
application type, amount, term, and credit bureau score. |
- One click update
- Based on your rules and policies
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Indirect Lending Support |
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Rebate calculations, dealer statements, and
charge-backs provided. Drop down list of dealers easily links loans
to correct dealer. |
- CUDL supported
- Buy rate fee calculations
- Chargeback for early payment, 1st payment default
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Comprehensive Mortgage Loan Servicing |
Mortgage origination systems are integrated with Spectrum to support
first and second mortgages, HELOC, and adjustable and variable rate
loans.
Full escrow processing ensures accurate control and disbursement of
funds.
Delivery and processing of mortgage loans sold on the secondary market
are automated. Interfaces available with secondary market principals
streamline packaging and selling market loans. |
- HMDA reporting fully supported
- Escrow account management
- Secondary market support
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