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- Loan Management System
- Process
- Servicing review
Servicing review
A servicing adjustment is assessed against its parent application and organization. The Credit Officer prepares a review with its loan reference and outstanding principal. An Independent Credit Approver judges the submitted revision. The recorded decision precedes any approved or rejected status, and completion follows the actual required authority and effect.
Step by step
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Prepare review Credit Officer
The Credit Officer associates the adjustment with its parent application and supporting material while it is Draft.
- Link adjustment and support
- Updates Servicing reviews, Loan applications, Record attachments
-
Submit revision Credit Officer
The officer submits the current review revision, moving the servicing status to Submitted.
- Freeze submitted revision
- Updates Servicing reviews
-
Decide adjustment Independent Credit Approver
The Independent Credit Approver checks organization, evidence and independence, then records the decision and reason against the same parent and revision.
- Retain independent outcome
- Updates Review decisions, Servicing reviews
ApprovalA person approves before the work moves on. -
Apply outcome Independent Credit Approver
The review moves to Approved or Rejected after its decision record exists.
- Set status after decision
- Updates Servicing reviews, Operation receipts
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Verify completion Independent Credit Approver
The team compares the receipt's claimed effects with stored decision, review and provider references before completion.
- Compare claim with actual records
- Updates Operation receipts, Servicing reviews, Application evidence
Who does what
Roles and permissions- Credit Officer
- Prepares and submits; Independent Credit Approver decides and verifies; Auditor inspects the retained outcome.
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