Loan Abstraction Process

Requirements

  • Preliminary discussion with client to understand their abstraction requirements and preferences including the level of detail to be captured
  • OHI’s team reviews representative loan agreements used by client to understand the underlying complexity of the loans
  • The abstract template to be used is finalized with the client
  • Understanding loan abstraction timelines and preparation of delivery schedule

Transfer of Loan Information to Abstract

  • Client provides loan documents and additional information by uploading to the secured shared drives Dropbox or Google Drive

Loan Abstraction Work-Process

  • Loan Abstraction Status Tracker is set-up (if multiple loans are to be abstracted)
  • Loan documents are reviewed in detail by the staff member
  • Missing document report is shared with the client
  • Sample abstract is prepared in the agreed upon loan abstract template
  • Abstract contains detailed section and page references, index of documents, notes and open queries (if any)
  • Key data is summarized in clear and concise abstracting language into final deliverable format
  • Prepared loan abstract is then reviewed by a senior staff member to ensure completeness, accuracy and quality. All key figures are double-checked

Final Deliverables

  • Abstracts are delivered in the format as defined at the start of the project