5.9 Verification Tab

This topic provides information on verification. It enables users to review, validate, and confirm applicant details and supporting documents to ensure accuracy and compliance.

Oracle Financial Services Lending and Leasing can be configured to automatically validate portions of an application when user attempt to change its status. The results of this data check appear on the Verification link’s Edit screen as an Error, a Warning or an Override.

If it is an Error, the system will not allow user to change application’s status and approve Loan until user fix all the errors.

If it is a Warning, the system enables user to change an application’s status without correcting the matter. While user should still investigate the problem, Warning messages are of a lesser importance than Error messages.

If it is an Override, the system displays a dialog box informing user that an override is needed. User responsibility level does not have the authority required to process this step. (Choose Yes on the dialog box to move the application to the queue of the user with the required authority).

To validate a credit application

1. Enter all the information associated with the application on the Application Entry screen.
2. When user are finished entering data, on the Origination, click Origination. Under Origination, click Simple Application Entry. Under Simple Application Entry, click Verification. Under Verification, click Edits.

   The Edits screen displays.

   Figure 5-11 Edits

   
   

   
   Description of "Figure 5-11 Edits"

   
   

   For details on this screen, refer Verification Tab of the Underwriting chapter.

This section consists of the following topic:

• Application Entry Using Fax-In
  This topic provides information on application entry using fax‑In. It enables users to capture and process application details submitted via fax.