Loanapp's Supporting Document Center has a range of configurable features for Lenders. The features provide Lender's with the ability to specify how and when Supporting Documents can be submitted by Brokers.
These features are configured for the first time during the initial configuration of Loanapp and can subsequently be changed as a Lender's requirements change.
Configurable features include:
1. Allowing submission based on Checklist Completion %
Lenders have the ability to specify whether a Broker can submit Supporting Documents:
After all Supporting Documents have been uploaded (100% completed); or
Even if some Supporting Documents are missing (<100% completed)
If all Supporting Documents must be uploaded and allocated the 'Submit documents to lender' button will remain inactive until the requirement is satisfied. For example:
If 0% of Supporting Docs are uploaded:
If 5% of Supporting Docs are uploaded:
If you choose to allow Supporting Documents submission when some of the documents are missing, the 'Submit documents to lender' button will become active when the first document is uploaded and allocated. For example:
In this example, the first document is 5% of the Checklist requirements
In this scenario Loanapp will present a warning to the Broker alerting them that "The Checklist is not 100% completed"
2. Add Exceptions
Lenders have the ability to allow Brokers to create exceptions for a Checklist requirement or a specific document within a requirement.
Exceptions can be configured as:
Global rules - Brokers are either allowed or not allowed to create exceptions for all Checklist items.
Requirement specific rules - Exceptions can be toggled on or off for each requirement. i.e.
If Create Exception is configured to 'off', the button will be inactive.
If Create Exception is configured to 'on', the button will be active.
When a Broker creates an exception they are required to provide an explanation.
Once an exception is created, the Checklist requirement is marked orange in the UI, the Broker can edit the exception and it will not impact submission where 100% completion is required.
3. Document Verification
Lenders have the ability to require Brokers to verify the documents they are uploading align with the requirement.
If configured 'on', Brokers must enter the required data after allocating the document against the requirement.
