Loan committee approvals
Q2 Origination enables you to define a Loan Committee to manage the approval of large commercial loans, or loans with exceptional risk, using a loan committee process. The loan committee process consists of one or more committees made up of specific financial institution personnel and requires lenders to present their loan opportunities to the committee for approval. The loan committee reviews and discusses each loan opportunity and votes to approve or reject it. The virtual loan committee experience bypasses the typical in-person managed cumbersome paperwork and its related risks of inefficiency and cost. The committee members can attend loan committee meetings online and view, discuss and vote on loan opportunities using their computer. The meeting minutes are automatically captured, and you can also enforce loan presentation time limits. Loan committee members and attendees both have access to the Loan Committee Calendar, which displays all currently schedule loan committee meetings.
To create a meeting, you must be a Committee Administrator to set up meetings. Authorized administrators have access to the Loan Committee admin calendar and can hover over any date to reveal the Add Meeting (+) icon. You can add members and include applications to be reviewed during the meeting as part of the meeting agenda. Each meeting is guided by the loan committee administrator, who has the ability to “start” each agenda item to kick-off the loan presentation and enabling voting. When the loan committee administrator has started a specific agenda item, attendees can select the access icon next to the agenda item to access the loan presentation.
To access a loan committee meeting as a member, select the applicable meeting. The meeting workspace is displayed. Q2 Origination enables you to view active meetings (occurring the same day) as well as the agendas of future meetings and the results of past loan committee meetings.
| Select | To |
|---|---|
| Vote tab | Vote for or against an application. You can add your comments in the Comments box provided. |
| Approval Statistics | View the individual votes of the committee members and overall application review status. |
| Loan Details | View the details of the loan application, including financials, parties, and collateral. |
| Notes | View notes and comments submitted by other loan committee members and attendees |
Prerequisites
Before you proceed to create a meeting, ensure that the following prerequisite is met:
You are a Committee Administrator.
Steps
To create a meeting:
Log in to your Salesforce account.
Select Applications and select the required application.
Select the Add Meeting icon.
The Meeting Configuration page is displayed.
Specify a meeting Date and Type, for example, Loan Committee or Board Committee.
Select Save.
The page is refreshed to provide additional fields.
Add the Meeting Members.
Members include the loan committee administrator(s), each of the loan committee members, and the applicable lenders attending to present their specific loan opportunities.
Select the role in which each member would be participating, for example, attendee or administrator.Add the Agenda Items.
The agenda items include each of the loan opportunities to be presented. The status of the agenda item enables the administrator to start, pause and stop. The available values include New, Processing, Paused, and Complete.
Select Save.