Concord Application Processing System (CAPS)
Concord's application processing system (CAPS) is a highly scalable, browser-based loan origination solution, providing real-time interfacing to three major credit bureaus, and allows for instant decisioning of consumer applications. It can be implemented using web services for system-to-system integration and allows for scoring and pricing models to be configured to a client's needs.
CAPS includes logical workflow management with automated and manual underwriting, fraud detection, Office of Foreign Assets & Control (OFAC) and Privacy Act compliance tools, and automated adverse action communications with comprehensive audit logs.
CAPS generates client, asset-class, and/or state specific closing documents that can be printed, faxed, or emailed. Lender approval and funding processes can be automated to provide a seamless loan origination workflow.
Key Features:
- Highly Scalable Application Acquisition Interface
- Automated Risk Management Underwriting
- Origination Workflow Management
- Asset Class & Compliance Driven Document Production
- Validation and Funding Workflow Management
- Software as a Service
- Browser-Based Consumer Loan Origination System
- Real-Time Interfacing to Three Major Credit Bureaus
- Scoring and Pricing Models Available for Configuration to Your Needs
- Queuing/Tracking of Pending Deals
- Fraud and Manual Underwriting Capabilities
- Automated Lender Approval/Funding Capabilities
- Adverse Action Letter/Communication Capabilities
- Automatically Generate Customer Specific Closing Documents On Demand
- Truth in Lending (TIL)
- Retail Installment Contracts (RIC)
- Funding Stipulations
- UCC Filing
- Interface to Custodial, Loan Servicing, and Property Management Software
- Office of Foreign Assets & Control (OFAC) and Privacy Act Compliance Tools
- Implementing Web Services for System to System Integration
- Consumer Facing Acquisition Capabilities
- Affiliate/Trial Membership Application Interface
