Lending data model for applications, applicants, loan products and collateral
Key Takeaway
A loan application centers on the Application Form record, with its UsageType field set to "Loan Origination". Its child Applicant records say who is applying and in which role. Its child Application Form Product records hold the requested product details, such as loan amount and tenure.
Digital Origination for Lending is an add-on to Agentforce Financial Services. Its data model tracks lending applications, applicants, and the data a lender needs to make lending decisions, from applicant intake through underwriting and contract generation. A consultant who reads a lending requirement needs to know which object holds each piece of data. The pieces are the application, the people applying, the requested product, the offer, the tasks, the documents, and the assets that secure a loan. Mortgage has a separate data model of its own.
Application Form, Applicant, and Application Form Product
Salesforce stores the details entered in a loan application in the Application Form object and its related objects. Application Form is the key object in the lending data model and represents a submitted application for a lending product.
To use an application form for lending, set its UsageType field to "Loan Origination". You can also use the Application Form object for other purposes, such as onboarding.
| Object | Relationship | What it tracks |
|---|---|---|
| Application Form | Parent of Applicant and Application Form Product | The loan application form |
| Applicant | Child of Application Form | Who is applying and their relationship to the application, such as Primary Applicant, Co-Applicant, Guarantor, or Co-Signer |
| Application Form Product | Child of Application Form | Product-specific details for the loan application, such as the requested tenure and loan amount |
An Applicant represents the individual or group applying for a loan product. The applicant can be a new client or an existing client.
Some lending features work from the Application Form Product record. Stage Management restricts the values of the Stage field on Application Form Product so that only defined transitions are allowed. You define the stage transition criteria on the Application Form Product object too. After each transition, Compliant Data Sharing participant records are created and updated to manage user visibility during the application process. Underwriters get a consolidated view of a submitted loan application on the application form product record page.
Lakeside Credit Union gives its consultant this requirement: Priya and her partner Sam apply together for a $20,000 personal loan over 48 months, and Priya's father, Raj, agrees to act as guarantor. The consultant maps it to one Application Form record with UsageType set to "Loan Origination". Under that record sit three Applicant records: Priya as Primary Applicant, Sam as Co-Applicant, and Raj as Guarantor. One Application Form Product record holds the requested loan amount of $20,000 and the tenure of 48 months. As the loan moves through its stages, the Stage field on that Application Form Product record changes.