For example, a member could be pre-approved for an auto loan up to a maximum of $50,000. The offer will present the configured dealership from which the member can go shopping. If the member accepts the offer, one or more custom forms would be presented for e-signature, with the dealer’s name and appropriate instructions. The member would present the form to the dealership, enabling them to negotiate the purchase. Meanwhile, the application will be in the CU*BASE loan application queue as a pending 1Click offer. Once the credit union receives the completed paperwork from the dealership, the credit union employee will edit the application to match the closing documents, and book the loan and send the funds to the dealership as usual!
Please note the supported fields for pre-approval letters: Date offer accepted, member name, offer amount, term, and rate. If you want additional verbiage on the letter, it must be hardcoded.
*Any query work above the standard query provided, will need to be a custom order through the Asterisk Intelligence team.
