xyz is currently undergoing a major business transformation initiative by implementing cloud-based loan origination platform called Encompass replacing legacy tools, systems and applications (SimpleNexus, LendingQB, LendingWise, UberWriter, LendingPad) that are currently used to support a variety of operational business reporting functions in the areas of finance, operational management and loan origination. Quicken Loans plan is not to migrate all the historical data to the new Encompass cloud-based loan origination platform but only the minimum data required as per the company or legal compliance whereas the historical data will be stored in an Enterprise Data Warehouse. Specifically, for this requirement, XYZ selected corporate to develop an enterprise data warehouse based on historical data SimpleNexus, LendingQB, LendingWise, UberWriter, and LendingPad.

1. ApplicationProcesses
   1. Loan officers assisted loan application
   2. Self-service loan application
2. Processing
   1. Decisions and credit Risk
3. Pricing
   1. Risk based pricing
   2. Relationship based pricing (for current employees and partners)
4. Compliance Assessment
   1. Initial Disclosure Provided Date
      1. Initial disclosures are the preliminary disclosures that must be acknowledged and signed in order to move forward with your loan application
      2. When you apply for a mortgage loan, the lender is required to provide you with initial disclosures within three business days of application
   2. Initial Loan Estimate sent Date
      1. The Loan Estimate tells you important details about the loan you have requested.
      2. The lender must provide you a Loan Estimate within three business days of receiving your application
   3. Initial Loan Estimate Due Date
      1. Application Received Date plus three business days
5. Appraising Collateral
   1. Loan to value ration this ratio determines the type of loans and risk the lender put up against
      1. Example: if the borrowers house is appraises for $415,000 & they wish to refinance for the amount of $373,500

the LTV ratio would be 90%. The higher the LTV ratio, the riskier the loan is for a lender

6. Document preparation & Closing
   1. Document Preparation or Doc Prep is the process of arranging and preparing the borrowers closing contracts
7. Mortgage underwriting
   1. An underwriter is a person who evaluates the loan documentation and determines whether or not the loan complies with the guidelines of the particular mortgage program.
   2. It is the underwriter's responsibility to assess the risk of the loan and decide to approve

or decline the loan. A processor is the one who gathers and submits the loan documents to the underwriter.

7. 3. Underwriters take at least 48 hours to underwrite the loan and after the borrower signs the package it takes 24 hours for a processor to process the documents.
8. Funding of Loans
   1. Disbursal of funds
   2. Decide theMode of Payment:
      1. Cash
      2. Online Transfer

Questions

• At least 10 user stories in As a USER, I want... so that . Format is required
• write acceptance criteria with a format in given/when/then format follows the template: Scenario: (explain scenario). Given (how things begin), when (action taken), then (outcome of taking action).