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Where can I capture an Estimated Settlement Date?
Where can I capture an Estimated Settlement Date?

The Estimated Settlement Date field is available in 3 sections of Loanapp. Read more to find out why.

Kate Gubbins avatar
Written by Kate Gubbins
Updated over 4 years ago

Loanapp allows Estimated Settlement Date to be captured in multiple sections of a Loan Application. This provides you with the opportunity to:

  • Choose which field best represents the field that will be mapped back to your internal systems

  • Use only one Estimated Settlement Date field for simplicity

  • Use a combination of Estimated Settlement Date fields*

In practice we have found the best approach is often to choose only 1 Estimated Settlement Date field to avoid confusion.
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The places within an Application that an Estimated Settlement Date can be captured are:

  1. Overview Section

  2. New Loan Section

  3. New Purchase Section

1. Overview Section

Estimated Settlement Date in the Precursor Tab --> Overview section is designed to be captured at an Application Level. This option is ideal if you are capturing 1 Estimated Settlement Date for the entire Application.

2. New Loan Section

Estimated Settlement Date in the New Requirements --> New Loan section is designed to be captured at a Product Level. This option is ideal if you will allow differing Estimated Settlement Dates in one 1 Application.

3. New Purchase Section

Estimated Settlement Date in the New Requirements --> New Purchase section is designed to be captured at a Property Level and is only available if the Contract of Sale has been signed. This option is ideal if you require the Estimated Settlement Date as specified on the Contract of Sale.
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​Notes:

  • *Business logic and validation rules can be applied if you choose to have multiple Estimated Settlement Date fields available within an Application.

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