The Mortgage Application Review process is triggered when a Client submits a Loan Application (either online or in conversation with a loan officer in a branch). The online system used to capture the mortgage application is called "MOSy" (Mortgage Origination System). Upon receipt of the application, a loan officer of ACME Corp creates a customer record in the CRM Platform of the firm (Salesforce).

The next step in the process is the "Know Your Customer" step. This is a background check that determines if the bank can legally do business with the applicant. This step is performed by a member of the "Lending Operations" division of ACME. If the KYC step fails, the application is denied. If it succeeds, the process continues to the next stage: data collection.

In the data collection stage, the loan officer gathers information about the property the applicant wishes to buy, and the credit risk of the applicant.

It does not matter in which order the property data and the credit risk data inputs are obtained. Once both steps are complete, the loan officer reviews all inputs and makes a decision on the application (i.e., decides if it should be approved or rejected).

No matter the outcome, a letter is sent to the Client informing them of the application outcome. If the Mortgage Application is approved, the case moves to the underwriting department for further processing.

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