murraythek
Board Regular
- Joined
- Aug 31, 2015
- Messages
- 61
I work for an auto lending company and I am in the process of developing a dashboard to increase the speed of our adjudication process.
I have a template set up where lenders input a prospective buyers income, max payment and debt obligations (rent/loans etc)and it will calculate the max debt service ratio and payment to income as we have caps for these figures (48% and 18%). Simple so far.
I want a formula that will also calculate an applicants possible max payment if the lenders enter just debt obligations and income which works in tandem with the above mention ratios and capping at whichever maxes out first, DSR or PTI. In addition we have 3 tiers of max payments base don an applicants score: 500, 600m and 700m.
Any thoughts?
I have a template set up where lenders input a prospective buyers income, max payment and debt obligations (rent/loans etc)and it will calculate the max debt service ratio and payment to income as we have caps for these figures (48% and 18%). Simple so far.
I want a formula that will also calculate an applicants possible max payment if the lenders enter just debt obligations and income which works in tandem with the above mention ratios and capping at whichever maxes out first, DSR or PTI. In addition we have 3 tiers of max payments base don an applicants score: 500, 600m and 700m.
Any thoughts?
