To put it simply, a Ready-to-Look loan is a loan application that is ready for the CU to underwrite and apply a decision to. The important distinction in a Ready-to-Look scenario, is that the incoming loan application will be matched to a CU loan product and recalculated based on the credit union's configuration.
When a loan application is submitted to the system, the CU will have the opportunity to issue a decision on the application. There are two methods of retrieving that decision:
If you provide postback information in your original application submission (see application spec), the system will attempt to post new decisions to your system when they are applied. This eliminates the need to continually ask if decisions are available for applications.
The system can support two scenarios for posting:
More detail is available within the application schema specification
| Action | HTTP Verb | Entity | URI |
|---|---|---|---|
| Create | POST | Loan Application | /api/credit_unions/{CUID}/loans/applications |
| Retrieve | GET | Decisions | /api/credit_unions/{CUID}/loans/applications/{unique_application_id}/decisions |
Every verb is not supported for every entity. It is limited by permission and implementation, to be coordinated with your partner certification representative.
Submit an application for the CU to decision
| HTTP Verb | POST |
| Endpoint URI | /api/credit_unions/{CUID}/loans/applications |
| Available Request Content-Type(s) | application/xml |
| Request Body | View Schema View XML Sample |
| Available Response Content-Type(s) | application/xml |
| Response Body | View XML Sample |
| HTTP Response on Success | HTTP 201 Created |
Get decisions for a particular application
| HTTP Verb | GET |
| Endpoint URI | /api/credit_unions/{CUID}/loans/applications/{unique_application_id}/decisions |
| Available Response Content-Type(s) | application/xml |
| Response Body | View Schema View XML Sample |
| HTTP Response on Success | HTTP 200 OK |
The intent to create a loan application 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
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