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This page covers the business domain Mortgages of the b= anking business area Loans.
The lists in the following sections show possible business cases related= to the loan type Mortgages to be covered by the API.
Business cases from the customer's point of view:
I want to prolong an expiring mortgage.
I want to increase an existing mortgage while keeping the conditions.
I want to change the conditions of an existing mortgage, e.g. fixed-inte= rest duration.
I want to apply for new mortgage financing (new business).
I want to calculate the costs of an early mortgage repayment.
I want to terminate an existing mortgage.
Business cases from the customer's point of view:
I want to apply for new financing of an existing mortgage by another ban= k.
I want to transfer my current mortgage to another provider.
Business cases from the customer's point of view:
I want to get a list of available mortgage products including conditions= (e.g. as a link list).
I want a TPP to generate a liquidity planning for me, based on the curre= ntly available financial information regarding any current mortgage.
The use cases described in the following pages relate exclusively to the= core processes of banking. This serves to get an idea of the process's ser= vices. Aspects of security and privacy are excluded at this point and will = be addressed separately.
The following section shows the basic use cases categories covered by th= e API.
Show my existing mortgages
Show current offers for my expiring mortgages
Place a new mortgage application
Manage a mortgage application (e.g. add documents, get status)
Get offers for new mortgage applications
Get an overview of all mortgages products (general information & con= ditions)
Place and manage mortgage orders (incl. prolongations)
In the following section, details from a customer perspective are descri= bed for:
Prolongation of a Mortgage
Transfer Mortgages - Bank to Bank
Transfer Mortgages - via TPP
Customer and relationship manager are notified about (1-n) expiring mort= gage products (tranches). The notification happens on several channels (RM = Dashboard, E- or Mobile Banking, SMS, Customer Portal, Printout, Phone)
=If the customer does not opt for self-service, Customer and relationship= manager discuss the prolongation and possible financing strategies (on sev= eral channels possible)
The bank provides 1-n offers for the prolongation (via chosen channel)= p>
The customer compares the offers and chooses one out of it
The bank is informed about the customer decision
The expiring mortgage tranche is replaced by a new product tranche (full= y STP possible)
The new products are persisted and the product confirmation is sent to t= he customer
Customer and relationship manager are notified about (1-n) expiring mort= gage products (tranches). The notification happens on several channels (RM = Dashboard, E- or Mobile Banking, SMS, Customer Portal, Printout, Phone)
=Relationship manager asks for additional information from the customer w= hen they have knowledge about relevant negative changes in debt to income r= atio (Tragbarkeit / Bonit=C3=A4t) or loan to value ratio (Belehnung)
Customer and relationship manager discuss the prolongation, possible fin= ancing strategies (on several channels possible)
If a financing is still allowed by the banks=E2=80=99 regulation, the ba= nk provides 1-n offers for the prolongation (via chosen channel)
The customer compares the offers and selects the best fit
The bank is informed about the customer decision
The expiring mortgage tranche is replaced by a new product tranche (full= y STP possible)
The new products are persisted and the product confirmation is sent to t= he customer
The existing bank makes the following data available to the new bank on = request:
Real estate data, e.g. street, cat. no., E-GRID no., postcode
Basic appraisal data, e.g. number of rooms, bathrooms, etc.
Real estate lien data, e.g. type of real estate lien, amount, etc.
= li>Payment instructions for repayment, e.g. amount incl. interest, account = no.
Remark: New bank =E2=86=92 Receives data about properties and loans = (including interest rates and mortgage certificates) and payment instructio= ns.
The new bank makes can receive and import the data needed for an offerin= g:
Real estate data, e.g. street, cat. no., E-GRID no., postcode
Basic appraisal data, e.g. number of rooms, bathrooms, etc.
Real estate lien data, e.g. type of real estate lien, amount, etc.
= li>Payment instructions for repayment, e.g. amount incl. interest, account = no.
Remark: New bank imports the data into their system to make an offer= ing to the client.
An interface must be made available so that irrevocable promises to pay = can be exchanged electronically from the new bank with the existing bank. O= n the basis of this promise to pay, the existing bank then releases the rea= l estate lien.
Remark: Existing bank =E2=86=92 Receives electronic promise to pay.<= /em>
An interface is planned to ensure real estate liens can be efficiently t= ransferred. The aim is collective custody for register-based mortgage notes= and paper-based real estate liens.
Remark: Interface for register-based mortgage note distribution or a= ddress data for dispatch of paper-based mortgage notes.
Based on the payment interfaces, the bank has to provide some mortgage d= ata in the payment that the existing bank can close the business related to= the payment.
Remark: Interface for register-based mortgage note distribution or a= ddress data for dispatch of paper-based mortgage notes.
The customer decides on the re-mortgage criteria e.g. principal amount, = rate (fixed, variable etc), monthly repayments and term required
The customer uses a third-party provider (e.g. mortgage loans website) t= o request for mortgage offers available
The third-party website contacts mortgage providers to get the mortgage = offers that meet the customers eligibility and mortgage criteria for compar= ison
The customer selects one mortgage provider from the third-party mortgage= website that is suitable
The customer scans the required documents (e.g. salary slips, existing m= ortgage statement etc.) and completes additional details for the applicatio= n on third-party provider website
The third-party provider submits the application to the selected mortgag= e provider
The mortgage provider conducts further mortgage eligibility checks
= li>Customer is new or an existing client
Credit bureau ratings
The existing bank makes the following data available to the new bank on = request:
Real estate data (street, cat. no., E-GRID no., postcode)
Basic appraisal data (number of rooms, bathrooms, etc.)
Real estate lien data (type of real estate lien, amount, etc.)
Payment instructions for repayment (amount incl. interest, account no.)<= /p>
The mortgage provider arranges a valuation of the property being mortgag= ed
On receipt of the property valuation the mortgage provider either accept= s or rejects the application
The third-party provider sends the approved mortage offer to the custome= r
The customer engages a legal conveyancer to assist with the legal docume= ntation for approval and signature
The customer advises existing mortgage provider of decision to repay mor= tgage and move mortgage to new provider
The customer agrees mortgage completion date for release of funds for ne= w mortgage
The third-party provider advises the mortgage provider of the completion= date to transfer funds to the conveyancer escrow to payoff previous mortga= ge
The third-party provider advises customer of the repayment schedule
<= /li>The customer repays according to the repayment schedule
The third-party provider provides a periodic mortgage statement to the c= ustomer