Exceptions

On the Exceptions tab, you can view all the policy exceptions related to an application and its associated parties and collateral, review them, override them if required, and then decide to proceed with the application approval or rejection.

Policy conditions are stipulations or constraints that govern the usage of funds in a credit application. These are also often recorded in the loan/lease contract. An underwriter needs to ensure that all the stipulated policy conditions are satisfied before the funds are disbursed. These are also often recorded in the credit memorandum. Adherence to the various customer due diligence requirements, is also an area where policy conditions are used.

Policy conditions define the boundaries/criteria within which applications can be originated. Once policy conditions are configured, these can be used to report exceptions as they occur during the application origination life cycle.