Can I read Direct Loan Processing System Requirements on EtoBox?

Direct Loan Processing System Requirements is a document available to read on EtoBox.

What is Direct Loan Processing System Requirements about?

Direct Loan processing relies on schools exchanging loan data with the Loan Origination Center on a regular basis through scheduled transmissions. Schools must submit records in the proper order - full origination records first, then any subsequent change or disbursement records. A loan is considered "booked" and binding once the LOC accepts the full origination record, promissory note, and first disbursement. The LOC notifies schools when disbursements are booked through a new booking notification process.

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