You are able to configure Policy and Decisioning logic that will be run against:
the application data (Loanapp)
any third party services that you run in your workflows (eg Bureau, Valuation, ID Verification, Title, etc)
The outcomes of these rules are displayed in the Assessment Areas of the Assessment Module.
This article takes you through how to review and work through the Policy & Decisioning Logic that has been configured in your Omni Workflow.
Where are the Assessment Areas?
The Assessment Areas are found in the Assessment Module:
The number (and name) of Assessment Areas will depend on your Lender configuration.
Each Assessment Area is a 'set' of rules that will have been run against your data. When you first generate the Assessment Module, the Assessment Areas will be 'unchecked' and have no result:
You will need to review each Assessment Area, and when you are satisfied with the rules and their outcomes, "Check" each Area.
⚠️ A completed ("checked") Assessment Area is required for the Conditional Approval and Formal Approval controls to be enabled.
How to "Check" (review and approve) the Assessment Areas
To work through/finalise the Assessment Module (and Conditionally or Formally Approve the application) you will need to "Check" and review each of the Assessment Areas your Lender has configured.
Click on an Assessment Area to review
To review the rules inside an Assessment Area, click on the Area you want to review. This will take you to a screen showing you the rules within the Assessment Area. In the following screenshot, I have clicked on the Applicants Assessment Area:
There are two sub-sections inside the Applicants Assessment Area. This means there are two sections of rules to review
These are the rules that have been configured to run against the data relevant to Applicants - Identity.
Takes you to the next Assessment Area.
Assessment Area sub-sections ("Items")
Each Assessment Area may have more than 1 section of rules - these are termed Assessment Area "items". You can expand the item list to see the different sub-sections. In this example, my Applicants Assessment Area has two sub-sections:
Identity
Bureau
You can click through each of the Assessment Area "items" by clicking either on the Line Item; or on the page toggle:
If I click through to the Bureau sub-section, I then get the rules that have been configured to run against the Bureau data:
And so forth.
To Recap:
You Lender can configure any number of "Assessment Areas"
and within these Assessment Areas are sub-sections called "Assessment Items"
and within each of these Areas and/or Items are the business rules that relate to that Area and/or Item
The Business Rule Outcomes
For each Business Rule that has been run, you will get an automated 'result' against that rule. The Results will be a PASS (Accept) or FAIL (Decline).
The assessment areas are generally configured so that Declined rules will be at the top of the list. These rules you should investigate.
You can assume all "Accept" (Passed) rules are not needing investigation.
Where the Rule has a PASS (Accept), then you can be confident that the data in the application 'passes' the rule - and you do not need to investigate further.
For each rule, you will get:
a result (automated when the rules are run)
a decision (what you, the assessor agrees is the outcome)
Action by:
Auto - if you do not change the auto-result
You - if you change the auto-result
Where the Auto-result is the final result
If the rule runs, and the outcome is 'agreed' by you - then you will leave the outcome as is, and the overall "Actioned by" will remain Auto (it was a system-outcome).
In the following example, the rule is checking that the applicant has been self-employed for more than 2 years (per credit policy):
For each Rule that is run, you will be able to click the 'info' icon to see the outcome of the rule:
In this example, I might check the application data to confirm the rule outcome, or simply trust the rule (it will be correct, as long as the data is correct!)
Where the Auto-result is NOT the final result
If the rule runs, and the outcome is not agreed by you, then you will need to note why you are changing the outcome. This is most likely to be the activity when the rule is "Decline) outcome. This generally means that the rule has not passed, and you need to review the data to make a decision.
In the following example, rules have been run against the Credit Bureau file, and it has been noted that that an outstanding writ has been identified on the file. Therefore the rule is 'decline':
In this scenario, you will want to review the Credit Bureau File via the Digital Services Dashboard. You may also want to investigate further by requesting detail from the broker or applicant via Info Request.
When you have finalised your investigations, you are able to either reverse the system decision making an Accept decision:
OR alternatively, you may agree with the system Decline, which may mean an overall Decline of the application:
Refer the Decision
OR alternatively, Refer the decision to another person (eg more senior assessor). In this scenario, you are unsure to Accept/Decline the rule. You are able to 1) select "Refer", 2) add a comment; and then 3) Delegate the Decision.
Can I Re-Run the Business Rules?
The business rules configured to run against an application will run immediately, when the Omni assessment record is created (ie when the application is submitted).
During your assessment, you might change the data in the Loanapp application; or you might call and complete further third party services (eg order a valuation). In either of these circumstances, you might want to re-run the policy rules against your updated data.
You are able to do this by clicking the "refresh assessment" button in the Assessment Module main screen:
You will get a confirmation popup:
If you click YES, then all business rules will be run again, for the application.
When the rules have been re-run, you will get confirmation (~10-20 seconds):
If data has not changed, then the outcome of any related rule will not change
If data HAS changed, and this then makes the outcome different, then the Result of the rule will update
⚠️ If you run the "refresh assessment" control - you will need to click through your assessment areas again to review the outcomes of each of the rules.
Remember that each Assessment Area will be configured to have Declined rules at the top.
Completing (Passing) your Assessment Areas
As you review/work through each of the Assessment Areas, you will want to finalise the Decision against each Rule.
If your workflow is configured where Accept = Auto Actioned, then you will only need to finalise any outstanding Decline rules. As an example, in the following section the Employment Status rule has not passed:
The Assessor will investigate the detail; and then make a decision and add comment:
When all the Rules in the section have been finalised (either Auto or by review), then the section can be Passed.
Note that you can add a confidence level (not required) and overall comment if you would like to:
A Passed section will then have PASS status on the Assessment Main Process screen:
As an Assessor, you will work through all the Assessment Areas (and sub-sections):
checking the rules, and finalising the decision/adding comment where required
PASSing each of the sections:
When you have completed this process, your Assessment Areas will all have a PASS status:
When you are ready, a final step is to "Check" each section to close it off:
