Loan process with no failures

In the typical scenario, Arix receives a loan request and moves the loan forward to approval and funding because there aren't any outstanding issues.

  • Partner sends the loan payload to CRB.
  • Arix assigns a GUID to the loan.
    Status: Received
  • Partner sends all the required loan documents to Arix.
  • Arix automatically reviews and confirms that the documents constitute a complete set.
    Status: Docs Complete
  • Arix automatically performs the required compliance checks.
    Status: Passed Compliance
  • Arix automatically approves the loan.
    Status: Approved
  • Arix passes the loan through to funding.
    Status: InFunding
  • Arix funds the loan.
    Status: Funded

Detailed steps to a loan with no failures

Partner actions:

  1. Send CRB a signed loan agreement.
    Arix assigns a GUID to the loan and marks it Received.
  2. When the loan is marked Received, send all the required loan documents to Arix.

Arix actions:

  1. Arix automatically checks that the documents constitute a complete set.
    (An agreed upon document set is established at the beginning of the relationship with CRB.)
  2. When all required documents are received, Arix marks the loan as Docs Complete.
  3. Arix automatically runs the compliance rules.
  4. When the loan passes compliance, Arix marks the loan as Passed Compliance.
  5. The loan is then automatically moved into Approved.
  6. The loan is funded.

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