C2 Covalent/Loan Origination Software

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Overview

C2 Covalent is an automated loan decision-making system provided to banks, credit unions, and other finance organizations. The system provides both consumer and small business credit origination, cross-selling and credit processing from point of origination to the post approval bridge of new account data all the way to the core loan servicing platform.

Covalent provides a premier solution for the following standard loan types:

·Consumer loan products (secured and unsecured)

·Direct and indirect automotive loan offers

·Secondary mortgage, home equity and HELOC offers

·Revolving line of credit and credit card offers

·Business loan offers (secured and unsecured)

The company senior management comes from years of experience in the loan origination software and credit industries.

We created C2 Systems to help solve a problem for mid-tier banks and credit unions. The antiquated and disconnected lending solutions found in today’s market often result in lengthy loan origination cycles that take on average 3 business days while competitors (i.e. Top 10 Banks) can offer a loan to these same customers in 45 minutes or less. Inconsistent and undocumented lending decisions are also a compliance risk during this era of high scrutiny.

C2 Systems wants to help our clients expand their own competitive advantage with our tools…you get access to more data that you need to make the highest quality decision in the shortest possible time.

In addition, C2 Covalent is so intuitive it requires almost no training of bank and credit union staff, enabling rapid deployment.

Key Benefits

  • Rapid implementation and personal client training/support
  • Identified straight-forward and user-friendly ability to "walk-through" an application from "entry to documents"
  • Senior management on-board with decades of experience in the loan origination software and credit industries
  • New technologies and integrations designed to lower your cost of loan origination, freeing up your credit underwriting team for more complex transactions
  • Integrations that allow for consistency in maintaining regulatory compliance
  • Full credit report analysis - including tri-merge - that allows the underwriter to ensure the true consumer debt-picture is being considered
  • Full document integration offering a full-range of "baked-in" early disclosure TRID documents and all closing documents
  • Integrated eSignature - sent and received back from the customer within the LOS
  • Home Equity Analysis - HMDA collection and loan analysis to identify the entire debt-picture of the consumer
  • Quick-view option of the complete product structure of details to manage risk-based pricing or to modify the loan to meet underwriting requirements
  • “Analyst Accessible” customization allowing savings in time and money to see new rules implemented