Decion Lender

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Here's how DecisionLender works for you

By automating loan origination and negotiation with DecisionLender, you build your indirect lending business by out-competing the other guys. Automation means you're faster, more efficient and customer friendly than ever before. Also, you can handle more deal flow than ever, without more staff.

At the Dealer

A car dealer's F&I manager enters a loan application on one of the popular Web-based credit application management services like CUDL, DealerTrack or RouteOne, which then automatically routes the application to your DecisionLender. Alternatively, the dealer can login and enter applications directly into DecisionLender.
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Application Notification

You're notified of the application within moments via email, and you access the DecisionLender data using any Internet-connected PC – at your office, a branch or at home. Password security can be set at any of eight levels, so if employees handle the application, each has access only to the level of data and decisioning you specify.
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Auto Approval and Decline Option with Auto Response to Dealer

Many DecisionLender users specify criteria for optional automatic approval of the highest quality applications. With this option, such applications can be approved in seconds, allowing you to capture the best loans by virtue of being the first responder. You receive an email notification and the application is displayed in your work queue with approval status indicated. Similarly, optional criteria may be specified to automatically decline loans that don't meet your underwriting standards. Back at the dealer, an automated response can be set to arrive instantly, regardless of the day or time, notifying the F&I manager of the application's status.
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Work Queue

After logging in, you'll see a work queue of loan applications, with the newest ones highlighted. The work queue includes applications for the past two weeks, but you can archive completed files with a couple of clicks, clearing your screen of all but the active files. You can quickly see which dealer generated the application, and the relevant information of the loan request.

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Your Unique Lending Policies

For an application that passes your pre-screening rules, DecisionLender automatically pulls a credit report from your choice of credit bureaus. DecisionLender then automatically analyzes the data against your criteria. The underwriting summary displays relevant calculations like debt-to-income and loan-to-value – all calculated your way, so that you can work the file as needed. Using your interest rate tables, loan payments are calculated for you.

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Working the Loan

The underwriting summary page also shows you ‘passed' and ‘failed' criteria for any loan file. You can view how an applicant compares with your decision matrix…check the credit report…review loan ratios like DTI, LTV and PTV…and perform tradeline edit functions to recalculate the loan – with just a few clicks. This is exactly the kind of speed and efficiency demanded by dealers in today's move-the-metal economic climate.

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Counter Offers

If you need to negotiate terms on a loan request, DecisionLender makes it simple to return a counter offer to the dealer. Adjustments can be made to modify payment amounts, interest rates or other factors. For loans that meet your guidelines, this allows you to fine-tune loans for each borrower's needs.

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Approved Application

The dealer receives notification of your loan approval that includes your terms and conditions. The entire process can be completed in minutes, putting your offer in the F&I Manager's hands while the borrower is still at the dealer. Most of our DecisionLender clients turn applications around in under 2 – 3 minutes – start to finish. Do you offer your car dealers this level of service?
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Adverse Action Letters

When an applicant must be declined, DecisionLender provides you with customized and efficient options for creating adverse action letters. You can use DecisionLender's letter template with standard ECOA and disclosure information or your own document to build the letter. DecisionLender then adds your logo, necessary applicant data, reasons you've selected for decline, the credit bureau(s) you used, and optional information you specify. With a few clicks you can create a PDF for printing yourself or automate the letter generation, printing and processing through a mail house.
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Funding Page

The DecisionLender funding page includes a checklist that itemizes all the stipulations – everything the dealer needs to get the contract funded. This page also automatically calculates dealer reserves your way, saving you time and trouble. And there's a real-time funding report for each dealer that helps you keep track of everything from contract status to commissions paid. DecisionLender integrates computation technology from Carleton, a leader in financial calculation analysis and verification, helping you to accurately calculate and validate APR, finance charges and other calculations for compliance with Regulation Z.

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Real-time Reports

To help you manage your loan business efficiently, DecisionLender can instantly generate up to 34 types of standard reports. These give you real-time application volume and status, loan volume by individual dealers, and other summaries. DecisionLender will also develop custom reports for your institution. Working with our representatives, you specify the data and formats you need, and we'll handle the rest.

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More information

Your indirect lending program just got a lot faster, easier and therefore, more competitive. That's why DecisionLender has become the leading Internet-based, loan decisioning software solution for credit unions, banks and finance companies from coast to coast. Contact us with your questions, or ask for a live, interactive Web demonstration in your office. See how much DecisionLender can advance your organization's future.
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