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Kwik-Decision™Computer-Generated Loan Underwriting

Overview
Industry Impact
Featured Media
Specifications

Overview

Kwik-Decision is an automated underwriting module that can make credit decisions electronically. Loan originators can use a standard scoring module or design a customized solution with the assistance of one of our credit specialist.

Kwik-Decision Features

Feature	Benefit
Credit Bureau Integration	Kwik-Decision provides loan originators with instant access to one, two or all three national credit bureaus (Equifax®, Experian® and TransUnion) from one application. It combines multi-bureau data into a standardized report format and eliminates duplicate trade lines for quicker analysis. Credit reports are delivered in just seconds to speed the finance process. FICO credit scores, fraud alerts, OFAC checking and other credit-related products are also available.
Stipulations	Applicants that do not meet the loan originator’s loan approval criteria are placed into an underwriting queue for manual review and the customer is notified that the application is pending.
Credit Model	Kwik-Decision lets lenders reduce credit risk through standardized and global credit models. It guides underwriters through a consistent, appropriate analysis process using credit scoring models and policies that lenders define. Once credit data is collected and analysis is completed, the applied scoring model combined with automation rules can automatically guide the credit team to make consistent and prudent credit decisions.

Kwik-Decision Benefits

Credit Bureau Integration
Stipulations
Credit Model

Results & Industry Impact

At the heart of Kwik-App is the Kwik-Decision feature. The system can automatically approve or deny an application to save time in the decision process. It also will move “marginal applications” into an underwriting queue for further review. And, for loans not approved, it generates a denial letter. (Note: Kwik-Decision is bundled in the Kwik-App module.)