on 30-05-2018 05:09 PM
I have spoken to a lot of people over the last week, both banks and practitioners, and there seems to be different interpretations of what this tick box means. (example highlighted below)
Some banks have said that they only tick this box when all documents are held and are correct.
Some tick the box as soon as the documents are held - before they are checked.
Some banks don't even use it.
I am asking for feedback on what everyone wants this tick box to mean, when it gets used, and whether the wording needs to be tweaked slightly to make it clear.
My current view is that we should tick the box when all loan docs are held, checked and correct: effectively the same as getting a 'Ready to Book' advice in the paper world.
Would appreciate any other opinions.
on 07-06-2018 02:47 PM
We're currently ticking the box when the Loan Doc's are received and have passed the examination stage.
I think the most beneficial "tick" button we need now is a "Ready to book".
Get rid of the "Loan Documents sent to Customer" - we wouldn't be in the workspace if we didn't send them.
on 07-06-2018 04:52 PM
I thought changing the settlement date/time to accepted was meant to indicate that we are ready for the settlement date.
That confirms that we have received and accepted our documents.
If we had not accepted them, we should not have the settlement date/time in an accepted status.
If that understanding is correct, then the document checkbox should be for received but not yet checked.
I agree, this obviously needs more clarification/understanding.