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Integration of Consumer Credit Policy and Underwriting Guidelines

A diversified financial services holding company, with a western and Midwest footprint. Worked as a Technical Writer.


Challenge

Prior to a merger, the division and the former subsidiary had separate credit policies and underwriting guidelines. The challenge was to align and document the consumer credit policies and underwriting guidelines of the division and the former subsidiary to ensure a seamless customer experience and consistent treatment of credit applicants under Fair Lending laws.


Solution

We wanted a process that would allow managers, underwriters and compliance staff—the key stakeholders—a shared insight into the business and its products. Our proposal was endorsed to align the two sets of guidelines by documenting general guidelines first, then product-specific guidelines, while showing their traceability to policy. The new document applies credit standards such as debt ratio, income requirements and credit history in a consistent manner to all those requesting credit, regardless of origination channel.


Results

Consumer lending operations of the bank division and the former subsidiary have been integrated, with the new credit policy and guidelines serving as tools for loan origination. Experience indicated that policies and guidelines are clear, well-organized, easy to use and well aligned with business and compliance requirements.


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