Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
Account-centric enterprise content management solutions allow users to access account holder information based on their account numbers.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
API is short for “application programming interface.” Technology companies like Alogent rely on APIs to connect multiple software applications, thereby enabling a two-way exchange of information to support users’ needs.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

Loan documents include all the documents that are necessary for a financial institution to make a loan to its account holders, including the promissory note.

In particular, loan documents serve as a legal and binding contract between the institution and a borrower, detail the terms in which the borrower must repay the debt, and provide a way to secure collateral that is pledged on a loan.

Sources of Loan Documents

Typically, there are three primary sources of loan documents. Sources of loan documents include:

Account Holder-Provided Loan Documents

The first source of loan documents is the customer or member, which could be an individual, small business, or another type of entity. Account holder documents provide important details about the person or entity that is applying for the loan.

Financial Institution-Provided Loan Documents

The second source of loan documents is the bank or credit union itself. Depending on the loan, a promissory note, deed of trust, security agreement, agreement to provide insurance, and UCC financing statement may be generated during the loan process. Many banks and credit unions utilize document preparation software to generate these types of documents.

Loan Documents Provided by Third Parties

Another source of loan documents may include third-party professional service providers, such as attorneys, land surveyors, and appraisers. Examples of such documents could include appraisals or surveys.

Consumer vs. Commercial Loan Documents

Different types of loans require different types of documents. For example, some consumer loans may only require an application and a pay stub, while a complex commercial loan typically requires large amounts of account holder-provided documentation, such as formation documents, business plans, and in-depth financial statements.

Check with your bank or credit union’s compliance team to ensure each loan is properly documented and in compliance with state and federal documentation requirements.

Transforming Loan Document Management

In the past, bankers had to cart around bulky paper folders that were packed full of loan documents. Once the loan closed, the next challenge became figuring out where and how to securely store them.

Today, all loan documents can be neatly stored and organized in an intuitive, searchable format. A core-integrated document management system, such as AccuAccount, streamlines the management of loan documents by ensuring that all required elements are present in the file. Loan documents and exception reports are also accessible to multiple personnel simultaneously. Digitizing loan documents allows banks and credit unions to reduce paper and long-term storage costs.

Learn More about Loan Management

Download a loan management eBook or spreadsheet from Alogent’s Innovation Hub. You can also read more banking definitions or download the banker’s glossary.

Explore more resources

AccuAccount Feature Overview

Simplify loan administration and document management with AccuAccount, our core-integrated software trusted by over 15,000 bankers. AccuAccount is the only loan imaging solution that combines exception tracking with automated reporting, offering a unified...
Read More »

Related articles

Monday 31 March 2025

Enabling "Person-Centric" Experiences with AccuAccount Views

Organizing account holder information by document type or identification number is common in banking, but doing so inhibits person-centric experiences. Is there a better option?

Read the Blog

Wednesday 26 March 2025

[Playbook] Early Capture in AccuAccount

Here’s the Situation: Your financial institution wants to leverage early capture to improve efficiency and reduce commercial lending bottlenecks. For years, you’ve used AccuAccount to…

Read the Blog

Thursday 20 March 2025

Protecting Against Check Fraud During Tax Season: Essential Solutions for Financial Institutions

As consumers and businesses navigate tax season, it's important to be aware of the risks associated with mailed checks and take steps to protect sensitive…

Read the Blog

Monday 17 March 2025

Boosting Compliance and Reducing Costs: How ECM Solutions Solve Document Management Challenges for Banks and Credit Unions

Banks and credit unions rely heavily on information, but managing the growing volume of structured and unstructured data—ranging from account holder records to institutional documents—presents…

Read the Blog

Thursday 13 March 2025

Streamlining Subpoena Responses: How Banks and Credit Unions Can Overcome Data Challenges and Improve Efficiency

When a financial institution receives a subpoena for transaction records, it impacts every part of the organization, from operational efficiency to compliance risks. Understanding the…

Read the Blog

Wednesday 5 March 2025

Taking a “Person-Centric” Approach to Enterprise Content Management

Simply digitizing and storing documents in a general repository doesn’t cut it. To increase the impact of modernization efforts and ensure smooth experiences for customers…

Read the Blog

Monday 24 February 2025

Alogent Ways of Working: Driving Innovation and Excellence in Banking Technology

Rooted in agile principles, Alogent Ways of Working (AWW) is not just our methodology; it’s our commitment to delivering exceptional products swiftly and efficiently. This…

Read the Blog

Tuesday 11 February 2025

Enhancing the Retail Experience: How Self-Service ECM Capabilities Are Transforming Banking

As account holder expectations evolve, banks and credit unions must adopt innovative solutions to remain competitive. Self-service capabilities within enterprise content management (ECM) systems provide…

Read the Blog