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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