Extending and improving loan servicing capabilities

Created by ex-Loan IQ™ development managers, Extension Studios allow you to leverage Loan IQ™, SDK, and other tooling so you can generate new functional calculations. It also provides improved performance and process flows resulting in added functionality to your Loan IQ™ installation.

Extension Studios feature the following apps:

API Extension LibraryDeveloped on common framework for managed extension efforts.

  • Atomic API Call
  • Enhanced MIS Code API
  • Customer Contact
  • Enhanced API
  • Internal Risk Rating API
  • Enhanced Additional Fields API
  • Late Charge Rule API
  • Deal Amendment API Series

Loan IQ™ Performance Enhancer

  • TLP engine to improve Loan IQ™ performance for slow executing transactions.

Extension Studios features the following enhancements:

Framework / Performance

Lock Domain Object

Allows a user to remotely lock specific information in Loan IQ. With multiple users working on a specific element at the same time in Loan IQ, things can get tricky. Lock Domain Object locks the deal notebook so that only one user can make changes at a time, minimizing unintentional overwriting and cross-editing within a deal notebook. Once changes are complete, the user can then unlock the deal notebook so others can edit.

Product Internal Risk Rating

Using Product Internal Risk Rating, users can update the Internal Risk Rating of a facility to discover the probability of default or loss, in event of a default. Currently, if banks wish to add their own internal risk rating to Loan IQ it must be done manually since Origination or Underwriting systems do not allow the information to be sent to Loan IQ. This opens the bank up to operational risk when information has to be entered manually. Product Internal Risk Rating provides seamless integration capabilities, allowing users to place internal risk ratings directly into Loan IQ.

Update Customer Contact Purposes

Lets a user update a Contact Purpose in Loan IQ. Normally, a user in Loan IQ must manually create a new customer contact, and the standard API does not allow the Contact Purpose to be updated. With Update Customer Contact Purposes, the user can make edits to both the primary and secondary purposes of the customer contact.

Create Deal Amendment

Currently, users are unable to amend an existing Loan IQ deal. Create Deal Amendment lets users amend an existing deal in Loan IQ and add associate transactions such as an increase or decrease in New Facility Unscheduled Commitments or other amendments outside the standard set of APIs

Multi-process/Multi-threaded Remote Operations

When multiple requests for information are sent to Loan IQ, there are processing limitations associated with the number of requests. Multi-process/Multi-threaded Remote Operations allows users in Loan IQ to send APIs to be sent for concurrent processing, which improves Loan IQ performance.

Business Data Updating

Projective Repayment Schedule

With Projective Repayment Schedule, users can calculate Loan IQ repayment schedules without having to create a loan first. It also reconciles inconsistent repayment schedules between a bank’s origination and servicing systems, providing a single source of truth. This allows banks to automatically reconcile repayment schedules without adding extra work or the risk of manual error.

Extended Create Loan Drawdown

Currently, there is a limit to the amount of information that can be sent to an outstanding loan in Loan IQ. With Extended Create Loan Drawdown, the Loan IQ Outstanding API — including the Late Charge Rule — can be extended to update additional attributes as needed, allowing users to add additional information to the record.

Extended Update Facility

Allows users to reference a Facility in many different ways — for example, users can search for a Facility by Control Number, which is not normally permitted in Loan IQ. Extended Update Facility expands the Loan IQ facility API to include these extra attributes.

Get All Customer Summary

Loan IQ users are limited to the retrieval of  2,500 customers at a time in Loan IQ. This arbitrary restriction in record retrieval slows workflows and creates additional tasks for users. But with Get All Customer Summary, users can circumvent the 2,500 customer record limit and retrieve as many customer records as needed in one instance.

Create Pending Facility on a Closed Deal

Currently, a new facility can’t be added to a new deal using the existing APIs in Loan IQ. But Create Pending Facility on a Closed Deal allows users to create one on a closed or pending deal.

Retrieve All Additional Templates

With Loan IQ, users are unable to access the Additional Fields templates through its classic APIs. With Retrieve All Additional Templates, users can retrieve all templates in XML format, circumventing the standard record retrieval limits. This allows for automation when updating additional fields.

 Extended Deal APIs

With Loan IQ, there is a limit to the number of attributes available for updating through the standard Update Deal API.  Extended Deal APIs let users makes more attributes available for updating as needed, including the Auto-Charge Prepayment Indicator and other attributes.

Message Broker Service

Message Broker Service allows users to extract more information and request more information from Loan IQ quickly and easily, by automatically translating requests from multiple programming languages. This shortcuts the process so users can get the information they need more efficiently.

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