Create the Deal Flow

This section is useful for organizations who have not selected the "Use Contact as Account" Defining Org Parameters. If this selection is made, then the Loan Team can be viewed in the right panel of the application dashboard.

1. Create a loan product.
   

2. Create the departments/stages that are applicable to the application
   

3. Associate the departments/stages with the product and specify their order through an approval queue using the product department association.
   

4. Define members of each department/stage. For this, you create Roles and associate users to each role.
   

   For example, the Origination department may have a role called Loan Officer, and there may be three users with this role. Roles are created as part of creating the role hierarchy for your organization.
   

5. Set up tasks to be performed by each department as part of their due diligence.
   

   Tasks may be around documents set up in the Deal Room, for example, Salary Certificates or Income Proofs, or around financial decisions and due diligence activities, for example, generating credit reports and bank transaction reports.
   

6. Through the Product Department Task Association, associate tasks to each department/stage for a given loan product.

See the Deal Flow and Deal Room chapter of the Q2 Origination Administration Guide for more information on setting these up. 

The approval workflow is initiated on saving the application for the first time. Based on the configured deal flow, the application appears in the queue of the first department/stage that must process it. For example, you may configure the workflow to include Origination, Processing, Underwriting, and Closing departments/stages. In that case, the application first appears in the Origination Department's queue. Using the Loan Dashboard, you can view the department/stage currently working on the application. Expanding the department/stage name displays the tasks configured to be performed by each department/stage. These are the tasks that you have defined in the Product Department Task Association.

As soon as a department's member accepts an application to work on, the tasks get created in the member's queue. Upon completing the tasks, the member indicates the status by selecting the checkbox against each task. Automated tasks like Credit Pull are updated by the system once completed. Once all the tasks of a department/stage are completed, the Submit to Next department/stage option becomes available. At any stage, you can reject an application if it does not pass the validation criteria or credit checks.  

The tasks can be configured in a way that tasks get generated during the application capture process. An addition or change to related records of an application (Accounts and Collateral) can result in a specific task being applied to a loan. The task will be generated only in the current department/stage.

The additional opportunities for task generation are:

• When the Application is created or updated

• When a Party record is created or updated

• When a Collateral record is created or updated

And each time tasks are generated, Q2 Origination evaluates the execution criteria to determine which tasks to apply to a specific loan.

You can view the tasks generated in the Loan Dashboard for the current department/stage.

You can also use the Loan Dashboard to define Exception Tasks. The exception tasks make it possible for you to seek additional information, review of a task, or repetition of any task from a preceding department/stage without having to route the application again through that department/stage. This ensures that the tasks that have earlier been completed successfully by a preceding department/stage are not repeated.

Set up the Deal Flow

To set up the deal flow, you can set up the different departments/stages and define different combinations and sequences of tasks and departments/stages for each lending product. You can do this through the different associations. 

Prerequisites

• CL Product is set up.

• Tasks are set up.

Steps

Setting up the product department task association is a two-step process. First, you create the product department association. After that, you can associate the tasks for this product department association.

The set up of associations provides you the flexibility to define a different list of departments/stages, sequences, and tasks for a given loan product.

To set up the product department association:

1. Log in to your Salesforce account.
   

2. Go to Origination Configuration > Deal Room and Dashboard Setup > Manage.
   

3. Select Product Department Task Setup.
   

4. On the page that appears, select New Product Department Association.
   

   The New Product Department Association page appears.
   

5. Select on the search icon in the Department field.
   

   Select the department that will process the application for this loan product.
   

6. Specify the CL Product.
   

   This, by default, is the ID of the CL product generated when you created the product. By specifying the CL product, you create the association between the department and the product. 
   

7. Specify the Department Order.
   

   This defines the sequence in which the application will be received by this department. For example, you may assign 1 as the order for the Origination Department and 5 as the department order for the Closing Department.
   

8. Select Save.
   

   A name is generated for this product and department association in the Product Department Association section.
   

9. Go back to the CL Product list and optionally repeat steps 3 to 5 to associate more departments/stages.
   

To set up the product department task association:

1.  In Origination Configuration > Deal Room and Dashboard Setup > Manage, select Product Department Task Setup.
   

2. Access the Product Department Task Setup page in one of the following ways:

   1. Select an existing Product Department Association. Select New ProductDepartment Task Association on the page that appears.

   2. Select New Product Department Association. Create the Product Department Association and Save it. Select New ProductDepartment Task Association on the page that appears.
      

3. Select the Product Department Association for which you want to associate the tasks. You can change the default association ID.
   

4. Select the task setup you want to associate with the product department association.
   

5. Select Save to create the Product Department Task association.
   

 Field Reference