When assessing an application, you are able to add Conditions of Approval to the application.
Conditions can be created/added at any time up to Formal Approval.
Conditions generally must be met before Formal Approval, however they can 'carry-over' to become Conditions of Settlement
You are able to add Conditions from a set list (if configured by your Lender) and/or able to create conditions from scratch
This article takes you through the Conditions of Approval functionality.
Where can I add Conditions of Approval?
You can add Conditions of Approval in the Assessment Summary in Omni workflow:
You are able to go to the Assessment Module at any time during your assessment, and add Conditions, whenever and as you need to. Each Condition will be listed in your Assessment Summary and will need to be finalised before Formal Approval and/or Settlement.
Add a Condition
To Add a Condition, click the Add New button:
This will open a new window that allows you to add all the detail for this Condition.
The main components of setting a condition are:
Add a Condition, either from a Pre-set Conditions list (set by your Lender), or by creating one from scratch
Title of the Condition. This will be:
automatically added if you select a Pre-Set condition
need to be added by you as you build your condition
Description and Instructions - further detail about the condition. This will be:
automatically added if you select a Pre-Set condition
need to be added by you as you build your condition
Target Team. If you are allocating responsibility to another team or person, you can 'target' the condition at this team/person.
Note that this does not yet pass the condition down to (eg) a broker, you need to do this as a next step
If you are going to 'keep' this condition as your responsibility, you should select yourself
Nominated Person. This will be someone in your Target Team.
Again, if you are keeping this condition as your responsibility, select yourself.
Saves the Condition against your assessment
Here is a completed Condition setup:
Press SAVE when you are done.
A New Condition will be OPEN (need to be met)
The Conditions screen will update to now be a Condition that is OPEN (needs to be completed):
Your Title that you set
Your Description that you set
Your Target team.nominated person
The status of the Condition (Has not been met)
The Back button, which takes you back to the main Assessment Module
Click the Back button.
The Condition is "Set" in the Assessment Module
Back in the Assessment Module, your condition will be listed by the Title you set:
You are able to add additional conditions as/when you need to.
Note that any unmet Conditions that you create will become an "Action Item" in your Assessment Processes, once you grant Conditional Approval
Grant Conditional Approval
Complete the assessment activities that you need to complete to Grant Conditional Approval. When you set the Assessment Module into Conditional Approval status, the module will go into "Waiting" status. This is because you have Conditions that have been set for Formal Approval:
Your unmet Condition(s) will become Action items in your Assessment workflow
When you have Conditionally Approved your application, any unmet conditions will automatically become a "Process" that needs to be completed in your assessment workflow.
Go to your Process Items list
Click Back on your Assessment Module:
And then select Type: Process
You can click on the Process, and you will find your Condition(s) listed inside as individual Action Items to be completed:
If you click on a Condition/Action Item, you will be able to see all the details that have been set:
The Title of your Condition, as you set it in the Assessment Module
The Description of your Condition, as you set it in the Assessment Module
Where you will write any comments/notes as you work on and satisfy the Condition
You are able to upload documents that are related/satisfy the Condition
You are able to send an Info Request to someone to complete the Condition (eg the broker or applicant)
You can go to Supporting Documents tab to view documents related to the Condition there
When you have satisfied the Condition, you are able to PASS the Condition (which will make it "Met" in the Assessment Module)
Complete the Condition
You can complete the condition once you have the detail required. You will either:
Issue an Info Request and then complete the Condition. For more detail on that flow click here.
Or you will get the required detail in some other way and need to finalise the condition. To do so, you can add comments that support the condition being met; and upload any documents that you would like to store against the condition:
When you have added comment/uploaded documents, you can PASS the action item/condition:
If you have satisfied ALL the conditions in the Process, it will also be Complete:
The Condition in your Assessment Summary will also be Complete
If you navigate back to the Assessment Summary, you will see that your Condition has been marked Complete:
And if you click it open, you will see that the Condition 'has been met':
Any documents attached to your Condition will be sent to Supporting Documents
Any document that is uploaded against the Condition Action Item will be sent to Supporting Documents when you PASS the Action Item
You are then able to attach it to any checklist item, if you need to.