Reference

Glossary

The words you will read on the screens, and what each one means here.

Application

One deal for one applicant. Everything you work on — rules, tasks, documents, notes, decisions — hangs off it.

Member ID

The applicant's member number at the credit union, shown on the application and in the queues.

Status

Where the application has got to. Some transitions are only open once the file has been through an earlier one.

Queue

A saved view of applications in one state. Some queues exist to be acted on; others are informational.

Lead

An application whose status is Lead: interest that has not yet become a full application. Leads wait in the Leads queue.

Credit pull

Pulling an applicant's credit bureau report. Each person on the application — the applicant and any co-maker — is pulled separately.

Co-maker

A second person on the application who signs for the loan and is responsible for it with the applicant.

Tier

The band, from A+ down to E, an applicant is placed in, shown on the decision page next to the credit score. It sets the ULR maximum and caps the relationship discount.

Discount Relationship

The relationship products — such as checking with a debit card, direct deposit or autopay — that each lower the rate when selected, up to a cap set by the member's tier.

Underwriting

Deciding whether to approve an application, and on what terms.

Adverse action

The reason given for a decline, and the notice sent to the applicant about it.

Decline reason

A reason recorded against a declined application, chosen from the list or typed by hand.

Task / stipulation

A condition to clear before funding, tracked on the application with its own status and documents. Approved with stipulations is not approved.

Waive

Setting a task aside, or a failed DTI or ULR rule with a comment, so the file can move on.

Lock

The marker naming whoever has the file open. It is what stops two people deciding the same application.

ULR

Unsecured Loan Ratio: this request plus the member's existing Town & Country Visa limits and Flex balances, divided by gross monthly income. Green is within the tier's maximum (A+ and A 3x, B and C 2x, D and E 1x); red exceeds it, fails a rule and sends the file to Manual Review.

CAP

Capacity: the balances on the member's cards and unsecured credit lines divided by their limits. Green under 50%, yellow 50–75%, red over 75%. Guidance only; it never fails a rule.

UDO

Unsecured Debt Outstanding: total unsecured debt (cards, unsecured loans, collections, charge-offs, past-due amounts and the new Flex loan) divided by gross annual income. Green under 20%, yellow 20–30%, red 30% or more. Guidance only; it never fails a rule.

DTI

Debt-to-income: the applicant's debt payments measured against their income.

PTI

Payment-to-income: this loan's payment measured against the applicant's income.

Funding

Releasing the money once every condition on the application has been cleared.

Truth in Lending

The disclosure on the contract showing the APR, finance charge, amount financed and total of payments.