Discover how data analytics plays a vital role in the loan origination process, ensuring data accuracy and compliance between origination and servicing systems. Learn about key control measures.
Table of Contents
Question
Which of the following demonstrates the use of data analytics for a loan origination process?
A. Evaluating whether loan records are included in the batch file and are validated by the servicing system.
B. Validating whether reconciliations between the two systems are performed and discrepancies are investigated.
C. Comparing a population of loans input in the origination system to loans booked on the servicing system.
D. Reviewing error handling controls to notify appropriate personnel in the event of a transmission failure.
Answer
C. Comparing a population of loans input in the origination system to loans booked on the servicing system.
Explanation
This option illustrates the application of data analytics to identify potential discrepancies or anomalies between two systems, highlighting a crucial control function within the loan origination process.
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