Policy Eligibility Explained

ClearPolicy evaluates each product against the lender's policy rules to determine eligibility for your client's loan application. This guide will help you understand the eligibility process and how to improve your client's chances of success.

Eligibility Statuses

Pass (Green)

The scenario meets all policy requirements for this product.
Your client's application should progress smoothly, assuming the information provided is accurate.

Pass (Blue)

The scenario meets all policy requirements for this product; however, assumed values were used for calculation and verification.
Ensure you clear all assumptions to obtain accurate calculations.

Fail (Red)

The scenario does not meet one or more mandatory policy requirements:
- Hard knockouts: Cannot proceed
- Missing required criteria
- Outside acceptable parameters

Understanding Gate Failures

If a product shows as failed, expand the details to identify which gates failed:

Failed Requirements

These are critical policy breaches that cannot be overcome:
- Credit score below minimum
- Asset age exceeds maximum
- Finance amount outside limits

Confirm Before Proceeding (Warnings)

These are items that require verification but are not automatic declines:
- Credit history requirements
- Employment verification
- Asset condition checks

> Tip: Always verify the details of failed gates to see if there are any discrepancies that can be corrected.

Improving Eligibility

If key products are showing as ineligible for your client:

Check which gates are failing: Review the failed gates to understand specific issues.
Verify scenario details: Ensure all provided information is accurate and up-to-date.
Consider alternative products: Explore other products that may better align with your client's profile.
Use the AI Assistant: Leverage the AI Assistant for improvement suggestions tailored to your client's situation.

> Note: Regularly updating the client’s information can significantly improve eligibility outcomes.

Policy Eligibility Explained