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Approval in Principle (AIP) for Lender Users

Approval in Principle (AIP) for Lender Users

How to use AIP to initiate a client application

Kate Gubbins avatar
Written by Kate Gubbins
Updated over 3 years ago

Approval in Principle (AIP) can be used by lender users (staff) to capture initial data from a client, while entering directly into AIP themselves. Using AIP this way allows the lender user to control the data that is entered while interacting with the client, or after receiving initial information from a client.

When using AIP as a lender user:

  • The AIP must be initiated from within the lender's channel, not the URL

  • Welcome emails and automated alerts are not sent to the clients or lender user

  • The applicants/clients will not be able to login and access the AIP themselves

  • If the AIP is not finished immediately, the lender user can come back to it via the lender channel

  • The AIP does not need to be completed 100% to be able to launch an application in Loanapp from the lender channel

1. Enabling AIP for Lender Users in a channel

  1. Navigate to Permissions

  2. Choose the Permissions group you wish to provide access to

  3. Selecte the Menu access section

In the Menu access section, grant access to the Prequalification menu

2. Using AIP as a Lender User

Click on Prequalification from the Solutions menu.

You will be directed to the AIP landing page.

Note: Even though the URL resembles the standard consumer facing AIP URL, no alerts will be sent the consumer or lender user.

Begin the AIP process by entering your client's information.

You can complete the full AIP, or click Finish later to save your progress.

Choosing to Finish later will not impact your ability to generate a full loan application in Loanapp in the coming steps.

When you are ready to progress the AIP to a full application, you will be able to

  1. Access the AIP from your Loan applications list within the channel

  2. Find the AIP application

  3. Allocate the application to a coordinator

  4. See the status of the AIP submission:

    1. Approval in principle - Pass

    2. Approval in principle - Fail

    3. Approval in principle - Incomplete submission

You can view the submitted data by clicking on the 3 dots next to the application and then Review and process.

To view and or edit the AIP data you can:

  1. Click on the sections to expand them

  2. Click on Edit to launch the AIP application

If you clicked Edit, you will be taken to a new browser tab which will show the incomplete AIP, showing where you exited the AIP.

Once ready, you can follow the usual AIP processing steps to choose a Document checklist, Activate the application and send the Info requests and then Process to launch a Loanapp applicayion.

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