Commercial Loan Underwriting Process

Select one of your colleagues from each of the members fields below to dynamically assign them to the tasks in this workflow run.

Hi there workflow builder!

We've automatically created dynamic role assignments for you in this workflow. Each time you run your workflow you can select someone in your team from the dropdown to be assigned to the tasks.

Pro tip: Tasks can be assigned in bulk. Hold your cmd/ctrl key and click shift or cmd/ctrl on the task list to select the tasks you'd like to assign.

*Delete this widget after digesting this information, as this content will appear on your workflow run*

Review the internal loan application work queue to identify new loan applications. This task is crucial as it sets the foundation for the underwriting process. By regularly reviewing the work queue, new loan applications can be identified and processed promptly. The desired result is to have a clear understanding of the new loan applications and their requirements. To successfully complete this task, you will need access to the loan application work queue and a good understanding of the underwriting process.

Review the loan application and supporting documents to determine if further action is required. This task plays a crucial role in assessing the initial eligibility of the loan application. The desired result is to identify any missing documents or discrepancies that need to be addressed. To successfully complete this task, you will need access to the loan application and supporting documents, as well as knowledge of the required documentation for underwriting a commercial loan.

Assess if the loan application requires the involvement of an internal expert. This task is crucial to ensure that all aspects of the loan application are thoroughly evaluated. The desired result is to determine if expert engagement is necessary and if so, to identify the specific areas where expertise is required. To successfully complete this task, you will need a good understanding of the loan application requirements and the expertise available within the organization.

Engage with the internal expert to gather necessary documentation for the loan application. This task is essential for ensuring accurate and complete documentation of the loan application. The desired result is to collaborate with the internal expert to obtain all required documentation in a timely manner. To successfully complete this task, you will need to establish effective communication with the internal expert and have a clear understanding of the required loan application documentation.

Contact the Local Compliance Team to assess the loan application's compliance with applicable laws. This task is crucial to ensure that the loan application meets all legal requirements. The desired result is to obtain an assessment from the Compliance Team regarding the loan application's compliance status. To successfully complete this task, you will need to establish communication with the Compliance Team and have a good understanding of the relevant laws and regulations.

Receive any additional information or recommendations from the Local Compliance Team. This task is crucial for obtaining a comprehensive assessment of the loan application's compliance status. The desired result is to gather any additional information or recommendations provided by the Compliance Team. To successfully complete this task, you will need to establish effective communication with the Compliance Team and ensure timely receipt of any updates or recommendations.

Analyze the financial health of the loan application. This task is essential for assessing the borrower's financial stability and ability to repay the loan. The desired result is to have a clear understanding of the borrower's financial health and any potential risks. To successfully complete this task, you will need access to the borrower's financial statements and knowledge of financial analysis techniques.

Examine the borrower's financial statements to identify any trends. This task is crucial to understand the borrower's financial performance over time. The desired result is to identify any trends or patterns in the borrower's financial statements. To complete this task, carefully review the borrower's financial statements, paying attention to changes or patterns that may indicate financial stability or risks. If you have any questions or need clarification, please consult the loan officer or financial analyst.

Assess the profitability of the borrower based on their financial statements. This task is important to determine if the borrower's business is generating sufficient profits. The desired result is to evaluate the borrower's profitability based on their financial statements. To complete this task, carefully analyze the borrower's financial statements to assess their revenue and profitability. If you have any questions or need clarification, please consult the loan officer or financial analyst.

Confirm the borrower's debt levels and liquidity based on their financial statements. This task is crucial to understand the borrower's financial stability and ability to repay the loan. The desired result is to verify the borrower's debt levels and liquidity. To complete this task, carefully analyze the borrower's financial statements to assess their debt levels and liquidity. If you have any questions or need clarification, please consult the loan officer or financial analyst.

Compare the borrower's financial ratios to industry benchmarks to evaluate their financial performance. This task is important to assess how the borrower's financial ratios compare to industry standards. The desired result is to evaluate the borrower's financial performance in relation to industry benchmarks. To complete this task, calculate the borrower's financial ratios using their financial statements and compare them to industry benchmarks. If you have any questions or need clarification, please consult the loan officer or financial analyst.

Analyze the creditworthiness of the loan application based on financial factors. This task is crucial to assess the applicant's creditworthiness and ability to repay the loan. The desired result is to determine the creditworthiness of the loan application. To complete this task, carefully review the applicant's credit history, credit scores, and other financial factors to assess their creditworthiness. If you have any questions or need clarification, please consult the loan officer or credit analyst.

Evaluate the loan application in relation to the borrower's business operations and potential risks. This task is important to assess the borrower's business operations and identify any potential risks. The desired result is to evaluate the borrower's business operations and identify any potential risks that may affect loan repayment. To complete this task, carefully analyze the borrower's business operations, industry trends, and potential risks they may face. If you have any questions or need clarification, please consult the loan officer or risk analyst.

Assess the value of the borrower's collateral in the event of default. This task is crucial to determine the potential recoverable value of the collateral. The desired result is to evaluate the value of the borrower's collateral as a risk mitigation measure. To complete this task, carefully assess the borrower's collateral, considering its market value, condition, and potential risks. If you have any questions or need clarification, please consult the loan officer or collateral valuation expert.

Engage with a Third Party Appraisal Provider to assess the borrower's collateral. This task is important to obtain an independent assessment of the borrower's collateral value. The desired result is to collaborate with a Third Party Appraisal Provider to assess the borrower's collateral. To complete this task, reach out to the selected Third Party Appraisal Provider and provide them with the necessary information to assess the borrower's collateral. If you have any questions or need clarification, please consult the loan officer or collateral valuation expert.