Preface
Purpose of this Document
This guide is designed to help you maintain and process loans and leases in Q2 Origination. It also assists you in handling all the necessary activities in the life cycle of a loan or a lease origination process. It describes the tasks that you as a business user can perform using the Q2 Origination application. Each chapter provides information on the related business concepts and the detailed steps for performing the tasks. Important business terms and user interface elements are described in detail in the Glossary at the end of this guide.
Intended Audience
This guide is intended for users of Q2 Origination. You must read this guide if you are a financial institution, bank, or institutional investor using Q2 Origination for:
Submitting borrower applications for secured and unsecured loans to individuals and businesses
Evaluating the risk and credit profile of borrowers
Approving and disbursing loans
Funding commercial real estate loans
Providing microfinance and lease contracts
Maintaining the product offerings and associated details.
Business users should read this document before they start using the product. System administrators should read this document before they install or configure the product.
Q2 Origination is the foundation product for using other products in the Cloud Lending suite. You use Q2 Origination to maintain all your customer information and business offering details.
Prerequisites for Use
This guide assumes a basic knowledge of loan/lease origination concepts and familiarity with the Q2 Origination product and the Windows platform.
Organization of Information
The guide is organized in the order of tasks that form the logical flow of creating and approving a loan or lease application:
Introduction
Provides an overview of the different types of loan/lease products followed by a detailed business flow for key loan/lease products.
Prospecting
Provides information about the initial stages of analyzing and qualifying the potential borrowers and providing them a snapshot view of funding options based on their requirements.
The chapters that follow provide descriptions of what users can do at each step of processing the various application types, along with detailed procedures for each such task. The field descriptions for each page are given at the end of the respective procedure.
List of Abbreviations
The following table lists all the abbreviations used in the document:
Abbreviated Term | Full Form |
---|---|
ACH | Automated Clearing House |
CDFI | Community Development Finance Institution |
CLI | Cloud Lending Inc. |
EMI | Equated Monthly Installment |
EOD | End of Day |
EOM | End of Month |
FASB | Financial Accounting Standards Board |
FFA | Financial Force Accounting |
GAAP | Generally Accepted Accounting Principles |
GL | General Ledger |
IFRS | International Financial Reporting Standards |
NBFC | Non-Banking Finance Company |
P2P | Peer-to-Peer |
Conventions Used in this Document
To help you easily understand the information on this User Guide, there are a few hints which appear throughout in the form of:
Important information is presented as Tip, consider the example given below:
Tip:You can also build a credit decisioning module that can be built over your existing system.
Additional Information is presented as Note, consider the example given below:
Note:Select the look up icon to view the side bar.
Warnings appear as shown in the example below:
Once you disable the rate card, it cannot be enabled again.
Cross-references appear as given in the example below:
External cross-references: For more information about the lease origination process, see Origination Configuration in the Q2 Origination Administration Guide.
Internal cross-references: For more information about the lease origination process, see Creating a consumer lease application.
Menus, options, icons, fields, and text boxes on the screen are in Bold, Initial Caps as given below:For example, Select Create Deal Room.
Related Documentation
Refer to the Q2 Origination Administration Guide to know how to set up the features in the application and make them available for use in origination and application processing.
Refer to the Cloud Lending Documentation and Training website to access release notes, training, and other related materials that describe the latest features and resolutions for issues logged by customers.
Technical Assistance
For all customers and partners of Cloud Lending Inc., our Technical Support Team provides technical assistance. Cloud Lending Solutions customers are served via a dedicated support desk. Contracted customers are provided a sign-on to communicate with Cloud Lending Solutions technical support staff. For more information on our support services, refer to our Support Policy.
Disclaimer
The information in this document is subject to change without notice. In no event shall Cloud Lending Solutions be liable for direct, indirect, special, incidental, or consequential damages of any nature or kind arising from the use of this document, nor shall Cloud Lending Solutions be liable for incidental or consequential damages arising from the use of software described in this document.
This document and its sections must not be reproduced or copied without the written permission of Cloud Lending Solutions, and its contents must not be imparted to a third party nor be used for any unauthorized purpose. The software described in this document is furnished under a license and may be used, copied, or disclosed only in accordance with the terms of such license.
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