Reference

Glossary

The words you will read on the screens, and what each one means here.

Application

One deal, from one applicant, sent by one dealer. Everything you work on — rules, tasks, documents, notes, decisions — hangs off it.

Status

Where the application has got to. Some transitions are locked until the file has been through an earlier one, and an approval reads Approved, Expired once it is 30 days old.

Queue

A saved view of applications in one state. Some queues are there to be acted on and count in colour; others are informational.

Channel

The dealer platform an application arrived through — DealerTrack, RouteOne or CUDL. The channel decides how and when the decision gets back to the dealer.

Pre-bureau / post-bureau

The two rule passes. Pre-bureau runs the cheap checks before the system pays for a credit pull; post-bureau runs the deeper rules once credit, value and membership are back.

Tier

The band the applicant's FICO score puts them in: Premier 830 and up, A++ 790–829, A+ 750–789, A 710–749, B 670–709, C 640–669, D 600–639, E 599 or below, and F-Military or F-Civilian when no usable score came back. Someone with the permission can override it on the Borrower Profile.

Adverse action

The reason given for a decline. A decline cannot be recorded without one, and you can confirm the notice went out under Email Notifications.

Rec Approve / Rec Decline

Recommended, not final. Auto-approvals are switched off for the first weeks after go-live, so the system recommends and a person decides.

Task / stipulation

A condition to clear before funding, tracked as a task on the application with its own status and documents. Approved with stipulations is not approved. The system opens some by itself when a fact about the deal calls for it: proof of income for the applicant, and separately for the co-applicant, on a thin file or Tier B through F; a thin-credit-file pricing note; copy of title for non-franchise dealers; open membership when the applicant is not already a member; retirement confirmation on stated retired employment; an EAS date more than a year out for active-duty applicants; an MLA disclosure on a covered borrower; an address-could-not-be-validated note on a bureau mismatch; and, once signed paperwork comes back, the RIC — always required — plus co-applicant e-sign documents when there is a co-applicant. Four exist only as options a person adds by hand and nothing about a deal ever triggers them: all accounts in good standing; back-end products capped; payment including warranty and GAP not exceeding 20% of gross income; and proof of residence.

RIC

Retail Installment Contract — the contract document produced once the deal is approved and the status moves to Contract Initiated.

PTI

Payment-to-income, shown beside DTI on the Debts page. Above 20% it blocks funding and cannot be waived.

DTI

Debt-to-income. The Debts page computes it from the income on the file and the debts included, for the borrower, the co-borrower and combined.

Waive

Setting a failed rule aside with a comment so the file can move on. The waiver survives a re-decision. PTI is the one thing that cannot be waived.

Lock

The padlock in the header naming whoever has the file open. It is not a permissions problem, and it releases on its own after 30 minutes.

Contract page

Where the deal as contracted lives once the status moves to Contract Initiated, alongside the RIC.

Funded

The money has moved. Booked is the internal name for the same thing; the screen says Funded.