The Credit Request tab consists of a subsection for each product selected on the New Application page. Fill out the fields for each product.
Notes about the fields in this section:
The amount and term ranges shown in parentheses are what your financial institution established for the type of product.
To change the rate for a product enter the rate you want in the Credit Request section of the Application page. If the rate is variable, enter the index value.
Note: The rate must be greater than zero. If you enter a rate of zero, the system displays an error message.
Baker Hill Bank2Business has been updated to allow you to enter a Requested Interest Rate in the Credit Request section of the Application page. This requested interest rate will be used in lieu of an authorized interest rate derived from the rate tables. Contact Baker Hill Client Support to configure this feature. On both the Edit Application and View Application pages, the Requested Interest Rate is displayed in the Credit Request section. If you request an interest rate type of Fixed, the Index field does not display.
Note: The Requested Rate field is not enabled by default. If your financial institution wants to use the Requested Rate feature, contact your Account Executive.
To use the requested rate for a product, enter the rate you want in the Credit Request section of the Application page. If the rate is variable, enter the index value. If a requested rate is not entered, Bank2Business will get an authorized rate from the rate tables.
Note: An entered requested interest rate must be within the minimum and maximum rates set for the product. The requested rate cannot be zero. If you attempt to submit an application with a requested rate higher or lower than the set minimum and maximum, the validation will fail.
The requested rate information displays in the Requested area and the Authorized Rate section on the Decision page. Payments and other calculations are based on the Requested Rate. The Underwriter can change the authorized rate, allowing the system to recalculate payments and other values.
On the Decision page the Requested Interest Rate will appear similar to the rate information in the recommended section but in the Requested area under Term.
Note: The Base Rate, Credit Risk Offset and Recommended Rates are calculated and displayed. However, they are not used in the calculations for the authorized values. Please be aware that a Requested Rate may be used as the Authorized Rate if the application is Auto Approved. If your financial institution does not wish to Auto Approve applications with Requested Rates, a credit policy rule to review the application should be included in the Product’s Credit Policy Set to stop Auto Approvals when the Requested Rate is used.
Purpose of Funds is an 80-character field intended for a brief description of what the applicant plans to do with the money requested and helps later with government reporting to establish to what this loan was related.
If your System Administrator has defined this product to use the calculations feature, you'll see
(the calculator
button) beside the Amount
Requested field. This button gives you access
to the Carleton 2000 Quoter forms.Auto Pay for This Product and Auto Pay Information are fields used to indicate whether this applicant will be paying automatically, such as a direct withdrawal from a checking account or a charge to a credit card. The Information field can be used to record pertinent account information, such as account numbers.
The product selection for the application can be modified after the application has been submitted but before the products have been decisioned. See the Reprocessing Instructions Help topic for details.
Note: If your institution has implemented the configurable application feature, the fields that appear on your Application page may differ from those described here. See your System Administrator with questions about how Baker Hill Origination is configured for your institution. Contact your Relationship Manager for more information about configurable applications.
Action Menu
An Action menu has been added to the Product bar in the Credit Request section of the Application, Financial Statement Analysis, and Decision pages. If a product meets the Credit Analysis credit policies, the Open Commercial Product Definition menu item is available in the Action menu.
Note: When the Credit Analysis credit policies trigger, the system displays a message stating that the Commercial Business Lending Credit Analysis requirements have been met.