17 Questions
What is the main focus of Loan Management System (LMS) in the lending process?
Loan Approval & Documentation
Which process involves activities from loan application submission to disbursal processes?
Loan Application Starts
What is one of the key processes under Loan Collection System (LCS)?
Fore-Closure of loan
In the loan origination process, what type of verification includes detailed data entry, data collection, and verification?
Technical, Legal Verification
What is the purpose of the lead module in the loan origination process?
To generate awareness calls
Which activity is NOT a part of the Loan Management System (LMS) functionalities?
Litigation Management
What does the Loan Origination System (LOS) primarily deal with in the lending process?
Application Processing
Loan processors handle the financial tasks associated with loan applications.
False
Product managers focus on the development and management of loan products.
True
Loan auditors conduct periodic reviews of the bank's loan portfolio.
False
Compliance officers ensure that all lending activities adhere to federal regulations only.
False
Loan review officers verify applicant information and prepare loan documents.
False
Relationship managers connect with potential borrowers to process loan applications.
False
Loan processors focus on defining product features, pricing, and marketing strategies.
False
Loan auditors ensure compliance and accuracy in the bank's loan files and practices.
True
Compliance officers oversee adherence to internal bank policies only.
False
Loan review officers assess the quality of loans and adherence to lending standards.
True
Explore the key concepts and procedures involved in the loan origination process. Learn about the steps from application submission to loan sanction and disbursement. Discover the importance of Loan Origination Systems (LOS) in streamlining loan processing activities.
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