The application origination process is considered complete once the lending organization and the borrower reach an agreement on the financed amount, payment term, interest rate, and any other terms listed in the contract. After this, you can implement any of the following options:
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Select Convert To Contract on the Loan Details page (Loan Details page in the non-Skuid enabled
Q2 Originate) to convert the application into a contract to be serviced by CL Loan.
For this functionality to be available, you must set up the mapping between the application and CL contract fields. For information on how to do this, see Convert an Application to a Contract.
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Configure Q2 Originate to export the application details to the servicing application your organization is using, in case it is different from CL Loan or CL Lease.
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Configure Q2 Originate to export data to any third-party agency whom you contract for servicing of the contracts.
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Forward the application for funding approvals before exercising any of the above options.