A Ready-to-Book loan is an approved, underwritten loan that originates from a system external to the core processing platform. These generally are triggered by CU staff or third parties from an external LOS instead of the CU*BASE LOS. Ready-to-Book loan submissions are designed for the CU to be able to simply click "Create Loan" in the core processing system. The system should not override any of the financial information that comes in with the deal as it does in a Ready-to-Look scenario.
In order to interact with our API, you will see certain aspects in the sample documentation that are required to be different for each CU that you access. In all cases this information will be provided by the CU*Answers Software Integrations team, or retrieved from certain API endpoints. If you have any questions on how to acquire this information, please contact us.
These items are configured at the CU level:
When a loan is submitted to the system, the CU must still "book" the loan. This process is what generates the loan suffix, and creates the account. It is also during this process that membership accounts are created. Membership accounts are not automatically generated through the use of this integration
If the intent of your integration is to generate forms within your platform, it is important to ensure you have all the necessary information to create said forms. One important piece of information that is often not considered in this process would be the loan/account suffix. Since the suffix is not generated until loan booking, it will not be available during your submission.
There is currently one method of handling suffix creation with Ready-to-Book integrations:
Note: As this suffix is being externally derived, out of channel with the core processing system, the generated suffix is not necessarily guaranteed to be correct/available. For example, if a suffix is generated in the external LOS, and the CU loan officer creates a loan on the account directly in the core system, the new loan will be assigned the next available suffix, which would clash with the suffix generated from the external LOS. We have yet to see this become an issue, however it is a technical possibility if the processes become out of sync.
| Action | HTTP Verb | Entity | URI |
|---|---|---|---|
| Create | POST | Loans | /api/credit_unions/{CUID}/loans |
Every verb is not supported to every entity. It is limited by permission and implementation, to be coordinated with your partner certification representative.
Submit Ready-to-Book loans that contain an approved decision (Typically underwritten in another system)
| HTTP Verb | POST |
| Endpoint URI | /api/credit_unions/{CUID}/loans |
| Available Content-Type(s) | XML |
| Request Body | View Schema View XML Sample |
| Return Parameters | Variable length string Application ID |
| HTTP Response on Success | HTTP 201 Created |
| Response Body | View XML Sample |
The intent to create a loan is signified by the request type and URI. Each entity response will be provided in XML format per the referenced schemas
Note: These example do not have all header information. Much of the details must be coordinated. The request bodies’ format are for example purposes only.
Request from Vendor to CU*Answers
XML=(XML Request)
Response from CU*Answers
This is a closed API, which means in order to gain access, you have to reach out. Also, if you have any questions that aren't covered in this documentation, or maybe they are and you'd like clarification, please Contact Us