Underwriting Criteria is used to determine whether underwriting practices are being applied to the applications; and then apply an override status for analysis purposes.
Step 1 Log into CDP
The active Institution and File will display in the upper right-hand corner.
Note: Prior to setting up Underwriting Criteria, Products and Account Types must first be set up within Settings.
Step 2 Click Settings
Step 3 Hover over Fair Lending
Step 4 Click Underwriting Criteria
Note: The underwriting criteria is based on date range so there cannot be more than one underwriting
setup for the same date range within the same account type.
Step 5 To create a new Underwriting Criteria, click the green Add New button
Step 6 Click the Account Type drop-down arrow
Note: The Description and Product will auto fill once an Account Type is selected. These fields cannot be
edited.
Step 7 Select a Date Range
7.1 Click in the box to bring up the calendar windows
7.2 Select a starting date and an ending date using the calendar windows
7.3 Click Apply in the bottom of the calendar windows
Step 8 Place a range within the fields that fits the criteria for the following two categories:
Note: The operators for the ranges are Less Than and Greater Than so keep that in mind when applying
the values to ensure the full range is being applied.
8.1 Credit:
- Applicant Credit Score 1
- Applicant Credit Score 2
- Applicant Credit Score 3
- Applicant Credit Score HMDA
- Co-Applicant Credit Score 1
- Co-Applicant Credit Score 2
- Co-Applicant Credit Score 3
- Co-Applicant Credit Score HMDA
- Years in Business
- Years Employed
- Years at Residence
- Minor Derogatories
- Major Derogatories
- Late Pays
8.2 Percentages/Rates:
- Loan/Income %
- Loan/Value %
- Debt/Income %
- Lien/Loan %
- Points
- Fees
- Interest Rate
- Term
- Yield
- Overages
- APR
- Combined LTV Radio
- Introductory Rate Term
- Discounted Points
- Lender Credits
- Pre-Payment Penalty Term
- Total Loan Costs
- Total Origination Charges
- Total Points and Fees
Step 9 Click Save once all criteria has been added
Note: To add more date ranges for one Account Type, continue with Steps 5-9.
Step 10 To copy ALL underwriting setups from one Account Type to another, click the next to an Account Type Group
10.1 Click the drop – down arrow next to Copy to Account Type
10.2 Click on an Account Type listed
10.3 Click Copy
Step 11 To edit an existing Underwriting Criteria, click on a date range under a specific Group
11.1 Click Edit
11.2 Make the desired changes
11.3 Click Save
Step 12 To copy a specific existing Underwriting Criteria, click on a date range under a specific Group
12.1 Click Copy
12.2 Update the date range (it cannot match an already existing range for that specific type code)
12.3 Make any desired changes
12.4 Click Save
Step 13 To delete an existing Underwriting Criteria, click on a date range under a specific Group
13.1 Click Delete
13.2 Click Yes to the confirmation message
After all setups are complete, they can be applied within the Discovery/Research section of the platform.
Continue to the next steps to apply the Underwriting Criteria.
Step 14 Click Discovery
Step 15 Click Research
Step 16 Using the Fast Filter buttons or the + symbol, build a filter to apply the Underwriting Criteria to
16.1 Click Activate
Step 17 Once the filter identifies the records, click the drop - down arrow by Output
Step 18 Click Fair Lending Overrides
Step 19 Click Yes to the confirmation message
From there, the system can now use the System Override status within the Decision Analysis Reports, located under the Reports list.
Article Reference CDP215