Automated Decision Model

247 Lender is a custom automated decision model designed to automatically approve loans from any delivery channel that you choose to select and expand your loan services to a 24X7 environment.

How do I get started?

As an old friend once said, “You can’t catch a fish unless you have your hook in the water!” This is something new to consider for many of our credit unions. Adopting a decision model may require some new procedures and ways of thinking throughout your organization.

If you want to start using the model but aren’t sure how to do it, we can help. Most importantly, recognize that we want to work with you as a partner, so don’t hesitate to contact us for help in establishing new procedures, training staff, and setting up your product offerings prior to turning the model on, so that you can take full advantage of its power throughout your organization.

What You’ll Find in this Document

The following highlights will link you to detailed information in our 247 Lender configuration and users guides:

Credit Bureau Access Startup Packet
Overview
Frequently Asked Questions
Pricing
Getting Started with Online Credit Bureau Access
Getting Started with 247 Lender
Credit Bureau Decisions
Overview
Configuring Minimum Requirement Filters
Configuring the CU*BASE Approval Matrix
Configuring Loan Delivery Channels
Configuring Risk-Based Pricing
Activating 247 Lender
Understanding the Portfolio Defense SAVANT Credit Scoring Model
Online Credit Bureau Access and 247 Lender
Optional Features to Consider
Credit Bureau Files and Retention Schedule
Requesting a Credit Bureau Report
Viewing a Credit Report
Viewing Decision Information
Printing Credit Report Data
Linking Credit Reports to Loans and Co-Borrowers
Monitoring 247 Lender Decisions
Appendix A: Risk Score Reason Codes
Appendix B: Bankruptcy / MDS Score Reason Codes
Appendix C: Reading Collections Report Detail