Will you eventually have a consumer side portal for online applications?
Yes! We plan to expand the application system to accept applications directly from the customer and link to your existing Credalyzer Platform. We are able to deliver a customer application portal within 3-6 months at this time with upfront fees charged. However, we plan on developing a standard process to be made available for a much lower upfront cost.
Do we store scanned images of documents in Credalyzer?
No. We will offer several portals to store blank forms and some disclosures to be provided to customers, but tax returns, credit reports, and other private information collected from customers will not be stored in the online system. We recommend these documents be retained on your local system.
Does Credalyzer interface with cores system to produce documents and upload data?
We provide our data in commercially acceptable formats that could be interfaced or uploaded directly to your system depending on your service provider or third-party widgets available. However, we do not offer an interface at this time. We believe our cost savings on lender, processor, underwriter, and front-end staff functions outweighs the savings on a back end input staff member.
Can I use my software for commercial loans?
It Depends. We generally built our system to handle consumer loans, but users will have a broad range of products including smaller business type loans and the ability to vary product settings to fit various products. Plans are in place to create a commercial approval software to handle larger dollar loans, while providing similar user-friendly portals. Our commercial platform will be enhanced with stress test features, credit underwriting guide, and a user-friendly approval system for committee approvals. Software may involve a hybrid online and internally hosted version.
How is income calculated?
We offer a variety of income methods built into the product to calculate income from paystubs, award letters, W2s, and simple 1040 tax returns. Our income formulas are preset to allow for consistent approvals. Lenders will enter data in designated cells such as YTD income, month of year, or other factors, and Credalyzer will calculate income.
Is training included on use of the system?
Of course! We will be available to perform web training, onsite or through our video series. Clients will have access to training guides, tutorial videos, and handy tool tips within the system. Any user on the system will be able to enter files in process from a separate device to aid in completing or troubleshooting. Our system further utilizes a chat feature to query others on input questions and, as always, you may contact us with your questions.