The decision model comes with three standard templates (Direct, Indirect, Unsecured) with up to 20 (TBD) static attributes to be customized for your credit union. A few examples of the attributes available include: Credit score, DTI, number of open trades, LTV, and # of open trades. Those attributes can be designed to determine a pass, review, or fail response based on the results.
How it Works
After filling out the loan request, move to the loan application to initiate a credit report to be run the applicant information against the decision model. The credit report and decision model will both be returned to CU*BASE for review. Based on the configurations in place this could trigger an auto approval, decline, or filter fail. Applications that cannot pass the decision model will need to be manually reviewed.
Schedule of Tasks
A change in credit report pulls, using the FUEL model requires your credit union to move credit requests from Zoot to Sync1. At the time credit is requested, Sync1 will pull the credit report and evaluate the applicant with your FUEL decision settings.
Credit Bureau Authorization Request Forms will be completed stating the bureau and model to facilitate credit report requests.
Lender*VP Managed: We will schedule a Zoom meeting to go over the configurations for the templates and which delivery channels the decision model should be configured for.
Credit Union Managed: Complete the below questionnaire and return to Lender*VP. Once the decision model is complete, we will schedule a time to review and activate the decision model.
Please allow two weeks from all documents being returned for Lender*VP to review and schedule a call to activate the decision model.
After the model is setup, your credit union will have a 60 day window to monitor model performance. This will give you time to evaluate the model settings and adjust any settings as needed. After the initial 60 days, there will be a per change cost for adjustments to any of settings in the model. The changes will be based on an hourly rate with a flat fee starting at $100.00.