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Stage: Loan Application Auction and Offer

In this "one-to-many" stage, the LA shares the loan application with all lenders in the product network. The LA coordinates the request-responses across all lenders and enables the borrower to choose an offer from among all returned offers. There are 3 groups of APIs at this stage.

Create Loan Application APIs

Loan agent forwards the Loan Application from the borrower to all lenders in the product network.

Loan agent receives the consent requests from Lenders and receives a single AA consent from the borrower which is forwarded back to the Lenders.

Offers APIs

Lenders underwrite the loan application and generate offers for the borrower. Once a specific offer is accepted, the communication from the Loan agent switches from many Lenders to one Lender.

Loan Application Auction and Offers