Custom Onboarding Process

General

Often companies will want to create a custom process for onboarding loans.  LoanPro offers Custom Onboarding Processes to do just that. A custom onboarding process will walk you through onboarding a loan in the order you choose.  You can also specify which values are required in order to complete the onboarding process.

How To Create a Loan

To create a new loan inside of LoanPro, navigate to Loans > Loan Manager inside your company account.  Click  New Loan and choose Custom Onboarding from the drop-down menu.

Now you can choose which custom onboarding process you want to use to set up the new loan.  You can create as many custom onboarding processes in the system as you want.

Click Start Process for the onboarding process you want to use.

This will now walk you through the steps of creating a loan using your selected process.  As you move through the onboarding process, you will see a progress bar with buttons that will let you move between steps.

Custom Boarding Progress

How To Create a Custom Boarding Process

You can create new Custom Onboarding processes inT Settings > Loan > Setup New Loan > Custom Onboarding Process.

To add a new onboarding process, click  Add.

Here you can enter general information about the process you are creating.  Enter a name for the process into the Name field.  The name should distinguish this process from others you have created and give some idea about why this process is unique.  Choose the loan class for this process (i.e. Automobile, Real Estate, Consumer, Other).  Choose a loan calculation type.

Now you should add at least one step to your custom onboarding process.  To add a new step, click  Add Custom Onboarding Process Step.

Enter a name for the step into the Step Name field.  If this is an optional step, click the Optional (can be skipped) switch to toggle the value to Yes.  Finally, select what part of the loan setup will be covered in this step from the Step Process drop-down menu.  Each part of a loan is represented in this drop-down and making a selection here will give you different options depending on which section you select.  Here are the options for each section:

  • Add Customer
    • # of References
      • Enter a numeric value for the number of references that must be entered in order to set up the loan
    • # of Payment Methods
      • Enter a numeric value for the number of payment methods that must be entered in order to set up the loan
    • Employer Info Required
      • Choose whether to require Employer Information
    • Primary Address Verified
      • Choose whether the primary address for the customer must be verified by our USPS integration in order to set up the loan
    • OFAC Tested
      • Choose whether an OFAC test will be required
    • Credit Score Requested
      • Choose whether the customer credit score must be pulled in order to set up the loan
  • AutoPay
    • # of AutoPays required
      • Enter of numeric value for the number of AutoPays that must be scheduled in order to set up the loan
  • Checklist
    • Check the box for any checklist items that must be checked in order to set up the loan
  • Collateral
    • None
  • Custom Forms
    • None
  • Documents
    • # of Documents required
      • Enter a numeric value for the number of documents that must be uploaded in order to set up the loan
  • Escrow
    • # of Transactions required
      • Enter a numeric value for the number of escrow transactions that must be logged in order to set up the loan
    • # of Adjustments required
      • Enter a numeric value for the number of escrow adjustments that must be entered in order to set up the loan
  • Initial Setup
    • None
  • Insurance
    • None
  • Loan Settings
    • None

Once you have entered the information for the current step, click Add Step to save the step.  Continue to add steps until your custom onboarding process is complete.  Click  Save to save the process.  You are done!

 

 

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