Options for Final Decisioning


Concept

In this topic, you will see how to apply a Final Decision.


Steps:

  1. A thorough review of the Transaction has taken place and now a Final Decision can be made.

     

    Final Decisions include:

     

    Approve

    Approve with Conditions

    Cancel

    Decline

    Step 1

  2. In this example, click the Gold Leaf Properties link.

    Step 2

  3. Click the Decisioning menu item.

    Step 3

  4. Click in the Decision field.

    Step 4

  5. Navigate to the Final Decisions category.

     

    Click the scroll bar.

    Step 5

  6. Final Decisions include:

     

    Approve

    Approve with Conditions

    Cancel

    Decline

    Step 6

  7. When a Final Decision has been saved to a Transaction, the File/Order information and the Final Decision can not be changed unless reopened.

     

    Collaborations and Documents will remain available.

     

    See the Reopen a Transaction learning topic for instruction on reopening a transaction.

     

    Step 7

  8. Click the Approve menu item.

    Step 8

  9. Once a Final Decision is selected, the Assign To Text field will default your name.

     

    Internal Notes can be added which can only be viewed by users of the UWB .

    Step 9

  10. Notes to Customer can be entered and will appear on the HILI Summary form.

     

    If a CPL Request was selected within the Transaction, the CPL Approved Amount displays.

    Step 10

  11. When a Final Decision of Approve or Approve with Conditions  is selected, Approval Date field displays.

    Step 11

  12. The current date is the default Approval Date.  The Approval Date can be changed using the calendar icon.

     

    Click the Approval Date calendar icon.

    Step 12

  13. For this example, click 19 on the calendar.

    Step 13

  14. The revised date displays in the Approval Date field.

    Step 14

  15. The Underwriting Watchlist checkbox will display when the Approver selects either Approve or Approve with Conditions from the Decision drop-down menu.

     

    Use this feature when the Transaction should be added to the Underwriting Watchlist.

    Step 15

  16. Click the Underwriting Watchlist option.

    Step 16

  17. Enter the reason for adding the transaction to the Watchlist.

     

    In this example, enter "Mechanics Lien".

    Step 17

  18. Click in the Title Policy # field.

    Step 18

  19. Enter the Title Policy Number. In this example, enter "2015810-k".

    Step 19

  20. You may enter another Identifying Number into the Others field.

     

    For this example enter "N/A".

    Step 20

  21. Enter the desired information into the Summary of Facts: field. In this example enter "Enter applicable facts here".

    Step 21

  22. Click in the Potential Dollar Exposure of known risk field.

    Step 22

  23. Enter the Potential Dollar Exposure of known risk into the field.

     

    In this example, enter "25,500,000.00".

    Step 23

  24. In the Likely Risk elimination event field, enter "Enter event here".

    Step 24

  25. In this example, enter  "1/15/2016" into the Project Elimination Date field.

    Step 25

  26. Click the Done button.

     

    Once you Save the Decision an email notification will be sent to the Watchlist Team.

    Step 26

  27. In this next scenario we will select Approve with Conditions as our decision.

     

    Click in the Decision field.

    Step 27

  28. Navigate to the Final Decisions category.

     

    Click the scroll bar.

    Step 28

  29. Click the Approve with Conditions menu item.

    Step 29

  30. An entry in the Conditions For Approval field is required.

    Step 30

  31. Click in the Decision field.

    Step 31

  32. Navigate to the Final Decisions category.

     

    Click the scroll bar.

    Step 32

  33. Click the Cancel menu item.

    Step 33

  34. The optional Internal Notes field is available.

     

    Reason to Cancel field is a required field and will display on the HILI Summary form.

    Step 34

  35. Click in the Decision field.

    Step 35

  36. Navigate to the Final Decisions category.

     

    Click the scroll bar.

    Step 36

  37. Click the Decline menu item.

    Step 37

  38. An entry in the Reason to Decline field is required.

     

    Click in the Reason To Decline field.

    Step 38

  39. In this example, enter "Failed to provide documentation".

    Step 39

  40. With the Final Decision made, click the Save Decision button.

    Step 40

  41. The Transaction Status displays the Final Decision.

     

    The Decision list is no longer available.

    Step 41

  42. View the Approve and Deliver Package section for the procedure when the Final Decision is Approved or Approved with Conditions.

    Step 42

You have now seen how to apply a Final Decision.

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