A Stipulation is a condition or requirement that an approval is dependent upon.  For this reason, in CUDL3, all applications with Stipulations go into "Pending" Status.  Stipulations differ from policies in that they are specific to the application(s) to which they are applied.  For example, proof of income or verification of employment may be required on riskier applicants, but not on prime applicants.

 

By creating a custom rule, a Stipulation such as "Proof of Income Required" can be automatically placed only on high-risk applications.  Stipulations can be used to make applicable policies stand out - improving the communication between lender and seller.

 

The Stipulations work area includes pre-defined rules and a custom rule editor to assign user-defined stipulations (configured on the Setup tab) to approved applications on a per-application basis.

 

Setting Stipulations on Approvals Only

For each rule that is True, the stipulation associated with that rule will be applied to the application - regardless of whether the decision is Approved, Referred, or Declined.  To only apply a stipulation to an "Approved" application, you must use a Custom Rule and include the statement "AND Decision Equals Approve".  (To apply a stipulation to Approvals and Referrals, use "AND Decision NOT Equals Decline".)

 

Stipulations are "De-Duplicated"

If two rules are created that set the same stipulation (for example, one rule sets a POI stipulation for being Tier B and another sets if for having been approved for an amount greater than $40,000), Decision Manager will automatically remove the duplicates and apply the stipulation only once.

 

Page url: https://decision.cudl.com/help/index.html?stipulations.htm