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Rules OnDemand® automates your loan application workflow and enhances compliance by automatically updating loan information with specified rules and providing automatic loan data validation and status updates.
Rules OnDemand® is an optional add-on module that works with ABE (Automated Business Engine) to allow users to run predefined rule sets or create detailed customized business logic that can be used for quality assurance in a dynamically changing environment, such as the loan origination industry. Rules OnDemand® and ABE provide your organization with the tools necessary to stay at the forefront of this industry!
Rules OnDemand® can automatically assign underwriting and closing conditions to the loan based on the results received from each rule, thereby enhancing your workflow. Automatically updating loan status as a result of your rules moves the loan to the next step. Make your entire loan operation more efficient and productive by automating your workflow with Rules OnDemand® and ABE.
Rules OnDemand® History and Radstar® Reports
A Rules OnDemand® history window can be accessed at any time that shows which loans and which rules or rule sets have been run. A report showing the detailed results from the execution of the rules or rule sets is permanently stored in Radstar® for easy retrieval.
Set Up Rules and Rule Sets
Users set up customized rules comparing loan level information to user-defined values. The result of the rule can be pass or fail, with the option to receive an informational message.
Rule definitions can be combined to form rule sets. For example, combine all the rules to define the Fannie Mae® eligibility requirements for a purchased home primary residence. Or, maintain a rule set that incorporates all the rules to accurately calculate and update the interest rate based on Fannie Mae’s Loan-Level Pricing Adjustments. We have even provided you with predefined rule sets that you can easily modify to fit your business requirements.
Validate Loans Against Rule Sets
Users can run an individual or a group of loans through a single or a group of rule sets. A graphical screen will display the results of the rule showing pass, fail or warnings. Users can look at the detailed rule results to see exactly which portion of the rule set the loan failed or needs further follow up.
To learn more about how Rules OnDemand® can improve your bottom line, contact us at 972.458.8583 or Info@FICS.com to schedule a free demo.
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