Organizations
Organization Structure
The overall management of an organization should be done at a single, dedicated location. An organization hierarchy needs to be created to address branches or jurisdiction requirements. Over time new branches of the organization may be required or existing branches may require changes. Processes need to be in place for organizing, editing, and deleting organizations and their lending policies to meet changing needs.
To prepare for the process of managing an organizational hierarchy:
- Review your organization structure including branches and jurisdictions
- Have access to the detailed information required to define organizations and lending policies
Organization Structure Examples
Organizations can take on a variety of structures, anything from a single institution in a single jurisdiction to multiple branches in multiple jurisdictions. You can use OPPSA to define a lending policy for one institution and then copy and modify the policy for different institutions, easing the burden of creating many lending policies.
Single Institution
This organization structure has one location with no separately defined branches or departments.
This organization does not process loans for other branches. For example, all departments agree to all use the same policies and for instance, to use or not use documents that combine the Promissory Note, Security Agreement, and Truth-in-Lending disclosures when appropriate. A flat organization structure with no branches would meet the needs for this institution.
Holding Company with Multiple Branches
This organization structure is a holding company with branches located in multiple locations.
This model allows the different branches to define lending policies unique to their location. This model works when you perform centralized processing and want the individual branch addresses to appear on the documents, assuming the jurisdiction is the same.