Data Model Description

If you want to launch a new mortgage product, you can use a predefined industry standard data model for mortgages, such as the one available with Digital Mortgages Self-Service Application, which you can further customize and tailor to your business needs.

The Digital Mortgages Self-Service Application solution's data model was built based on the business entities created in FintechOS Studio. It contains both entities used throughout several solutions, defined in the Common Data Model, which covers the most important industry-specific entities and data sets referring to applications, applicants, or products, as well as extensions, which are business-specific entities needed for this use case. The main entity holds details about the mortgage application and stays at the center of the data model keeping the important business information, and a series of other entities are inter-connected in a logical manner, describing the entire business logic of the solution.

The mortgage application is the central object of this accelerator and it is stored in the Application entity, hereby considered the main entity of the data model. It contains information about the application form (number, date, and type), the name of the applicant, the banking product opted for along with amount and currency, and the contract type generated for the mortgage loan, if any.

Each application record is linked to a series of other records from entities that hold business-relevant data. The data model stores records about the applicant who submits the mortgage application, their address, the banking products offered, the purpose for requesting the loan, any documents referring to the application, either submitted by the applicant or generated as a result of the application, any pricing relevant values, all the details of the granted loan, the applicant's marketing consent and feedback, and so on.

During the implementation phase of your project, you can extend the existing data model to fill your specific business needs.

The data model contains entities designed specifically to hold data for the following:

  • the application process (with details such as application number and date, applicant name, banking product, or amount);

  • the person who applied for the loan and any other co-debtors;

  • the address of the applicants;

  • the applicants are part of a black list, thus preventing them to apply for a loan;

  • the financial status and the income information of the applicants;

  • information about any existing loans of the applicants;

  • the documents submitted by the applicant and those generated during the application process;

  • the information about the banking products that can be applied for;

  • the values used by the formulas during the pricing calculations;

  • the schedule information used for pricing calculations;

  • the financial result of the calculations and the score decisions used for the calculations;

  • the loan granted as a result of the application process;

  • the destination and the purpose of the loan;

  • the marketing status of the application;

  • the feedback of the applicant;

  • the asset mentioned in the loan;

  • any mock information used to store the properties belonging to a third-party platform that aggregates listing from prospective sellers and agencies.