Compliance for loan requests

In this scenario, Arix received the loan request, the documents were checked and found complete, but the loan can't move forward due to a compliance failure.

  • Partner sends the loan payload to CRB.
  • Arix assigns a GUID to the loan.
    Status: Received
  • Partner sends the required loan documents to CRB.
  • Arix automatically checks that the documents constitute a complete set.
    Status: Docs Complete
  • Arix automatically runs the compliance rules and at least one rule fails.

For examples of a loan failure, go to compliance.

During the implementation period, we work with you in the sandbox to tune the loan payload, documentation, and rules. Our goal is that 100% of the loans pass compliance automatically without any failures.


Detailed steps for a loan with compliance failures

Partner actions:
The partner reviews the compliance failures and resubmits updates via the LoanUpdate API or reposts attachments, as applicable. Arix then performs the next steps toward loan approval.

Arix actions:
If the loan doesn't pass compliance for any reason, this can happen:

  • The failure is resolved internally by the CRB Ops team.
  • CRB Ops communicates with your operations team and confirms the additional information that is needed to approve the loan.

Note: You can receive updates on the compliance status with webhooks. Click here to view the webhooks available to register to.