Processing

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Processing

Compiling and maintaining the file of information about the transaction, including the credit report, appraisal, verification of employment and assets,and so on.

Mortgage brokers usually process the loans they handle. The processing file is handed off to underwriting for the loan decision.

References in periodicals archive ?
Key components of the system are the in-plant surveillance for engineering, software development, quality assurance, and manufacturing processes.
As of August 7, 2004, the Milwaukee office of the Federal Reserve Bank of Chicago no longer processes checks, and banks served by that office have been reassigned to the Reserve Bank's head office.
Therefore, it is important to implement processes in a stepwise, incremental fashion, with tight, simple, feedback loops.
Multiple flavors of BSP services exist because the level of automation varies across business processes and because clients require different levels of service from their service providers.
Understanding this value chain and the centrality of core competencies to value creation enables an organization to better leverage the processes - and the intangible assets within those processes.
Both product performance and manufacturing processes exhibit variation.
In many cases, the asphalt or ready mix producer actually processes materials, as they have aggregate handling equipment on site.
He noted that in-house systems are challenged by the enormous number of partial medical payments, the numerous processors, providers and processes involved, the variety of forms and formats in which payment data is received, and the high operational expense of in-house processing, which is the same whether a procedure costs $20 or $2,000.
By integrating electronic payment processing into business software applications, vendors can provide their customers with more complete solutions that streamline the CRM, billing and collections processes while also ensuring themselves a steady ongoing revenue stream," said Allen Wolff, president of PaySimple.
the Change Governance(TM) leader, today announced a powerful new Web services interface within its latest version of Serena(R) TeamTrack(R), offering visibility into and repeatability across all operational processes throughout the enterprise.
The outcome is significant improvements in availability and information float, while enabling us to more effectively and efficiently manage our clients' business processes.