2015.6

2015.6 Release

Product Setup Enhancements

DM > Verification: Updated to Include Rules for Decline, Refer, and Approve

In the past, you could only create verification rules to decline an application. Now, you can create Decline, Refer, and Approve rules. In all cases, a credit report will not be requested.

New Variables

These variables are available for use in matrices and custom rules. Descriptions for these and all variables can be found in the Appendix.

Custom Field Variables

We added many new “custom field” variables for use in matrices and custom rules. In Lending 360 Administration, you can configure custom labels for the custom fields as they appear on your application templates, but the variable names in Decision Manager will maintain the generic “custom field” names.

Applicant Custom Fields: Applicant custom fields are available for the “Applicant” and “Co-Applicant, with the exception that no Co-Applicant variables are available in Routing.

Variable Name

Description

Custom Text Field [1-20]

Text input on application entry

•	20 custom text fields available

Custom Amount Field [1-10]

Amount input on application entry

•	10 custom amount fields available

Custom Number Field [1-10]

Number input on application entry

•	10 custom number fields available

Custom True/False Field [1-10]

True/False selection on application entry

•	10 custom True/False fields available

Custom Percentage Field [1-10]

Percentage input on application entry

•	10 custom percentage fields available

Application Custom Fields

Variable Name

Description

Application Custom Text Field [11-20]

Text input on application entry

•	20 custom text fields available

•	1-10 were already available, 11-20 are new

Application Custom Amount Field [1-10]

Amount input on application entry

•	10 custom amount fields available

Application Custom Number Field [1-10]

Number input on application entry

•	10 custom number fields available

Application Custom True/False Field [1-10]

True/False selection on application entry

•	10 custom True/False fields available

Application Custom Percentage Field [1-10]

Percentage input on application entry

•	10 custom percentage fields available

Calculated Variables

In addition to the custom field variables, we’ve added several calculated variables.

Variable Name

Description

Age of Oldest Trade of Applicant with Highest Income

The age of the oldest trade from the applicant with the highest income

•	Age of trade is calculated as the difference between the date of the credit report and the date the trade was opened (in months)

•	If the primary applicant and the co-applicant have the same gross monthly income, then the age of oldest trade is from the primary applicant

Established Trade Count of Applicant with Highest Income

The number of open and closed trades where the consumer is liable for payment, from the applicant with the highest income

•	Excludes authorized user trades

•	Excludes collection agency accounts

•	Excludes disputed accounts

•	If the primary applicant and the co-applicant have the same gross monthly income, then the established trade count is from the primary applicant

Trade Count of Applicant with Highest Income

The number of open and closed trades from the applicant with the highest income

•	Excludes collection agency accounts

•	Excludes disputed accounts

•	If the primary applicant and the co-applicant have the same gross monthly income, then the trade count is from the primary applicant

Age of Oldest Trade-Excluding Authorized User Trades of Applicant with Highest Income

The age of the oldest trade (excluding authorized user trades) from the applicant with the highest income

•	Age of trade is calculated as the difference between the date of the credit report and the date the trade was opened (in months)

•	If the primary applicant and the co-applicant have the same gross monthly income, then the age of oldest trade is from the primary applicant

Existing Rate is Greater Than or Equal To Approved Rate

This is a True/False flag indicating whether or not the Existing Rate is greater than or equal to the System Approved Rate

•	Existing Rate is from the application entry

Existing Limit is Less Than or Equal To Approved Limit

This a True/False flag indicating whether or not the Existing Credit Limit is less than or equal to the System Approved Loan Amount

•	Existing Limit is from the application entry

Bug Fixes

•	Decision Challenger Report: Corrected an issue where the Decision Challenger request did not find any applications when the Test product used “Contains” in a routing rule.

•

Decision Challenger Report: Corrected an issue where the Loan Product variable was not evaluated when used in matrices or rules of the Test product and caused the new decision to be Refer on most applications evaluated in the report. The Loan Product variable is now evaluated in the Decision Challenger process. (2015.5 release)

•	Lending 360 Credit Reports: Fixed an issue in the credit reports window where the text format of the credit report was sometimes displayed in the HTML tab.

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