Data Model Description

If you want to help your customer know beforehand the costs of a mortgage implies and the product options that are suitable, you can use a predefined industry standard data model for mortgages, such as the one available with Mortgage Calculator, which you can further customize and tailor to your business needs.

The Mortgage Calculator 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 loan 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 Loan entity, hereby considered the main entity of the data model. It contains information about the mortgage loan (customer, financed amount, costs, duration, currency, date, number, or selected banking product), the name of the applicant, the application process, 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, any pricing relevant values, all the details of the granted loan, the applicant's marketing consent and feedback, and so on.

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

• the loan granted as a result of the application process (with details such as customer, financed amount, costs, duration, currency, date, number, or selected banking product) and its schedule

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

• the mortgage loan application

• the person who applies for the mortgage loan and any other co-debtors

• the address and the fiscal residence of the applicant

• the destination and the purpose of the loan

• the guarantees needed for the mortgage

• the promotional codes used for cost calculations

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

• the financial status and the income information of the applicants

• the marketing status of the application

• the asset mentioned in the loan and its location

• the person who assessed the value of the asset

• the contract type generated for the application

• the financial result of the calculations, the score decisions used for the calculations, and a risk log

• the values used by the formulas during the pricing calculations and any applicable pricing discounts, fees, or insurances

• the feedback of the applicant.