Columbus has an ecosystem in Loanapp which allows a mortgage submission to be:
initiated at the broker level and then submitted to a mortgage manager
promoted from the mortgage manager to then submit up to Origin
This article describes the process and gives you an understanding of how the different layers work together.
Broker submission
The first party in the Ecosystem is the broker, creating an application on the Mortgage Manager's Child Loanapp.
The broker will login to Loanapp on the following URL:
When the broker is logged in, she will be able to create a new application:
The broker will complete the application, generate app forms, check serviceability, upload supporting docs; and to submit to the Mortgage Manager for assessment.
For a full run-through of the Loanapp functionality, please click here
Mortgage Manager - receive broker submission; and promote to Origin
When the broker submits the app, it becomes available as a "received app" in the mortgage manager's level of Loanapp.
To access loanapp as a Mortgage Manager, the URL you use (no matter your business name) is:
Your login will be your email address (username) and whatever password you have set.
When you login, as the lender, you will have more visibility and permissions than a broker. You will have a number of tabs across the top:
These tabs will take you to different sections in your loanapp.
MyApps = any applications as you, the user, have created in Loanapp. This will be apps you have created, mostly to test functionality.
TeamApps = any applications that you and/or any of your team-members have created in Loanapp. Again, at the lender level this will mostly be test apps.
Received Apps = applications that have been submitted by brokers and are now ready to process.
Funder Apps = applications that you have created, by promoting broker received apps to your funder
Broker Apps = applications that brokers are currently working on, but have not yet submitted to you
Brokerages and Brokers = the sections to be used to create new login credentials for your brokers/distributors.
The important ones in the context of this article and Received Apps, and Funder Apps.
Received Apps
Click on Received Apps to be able to see which apps have been submitted by brokers.
You can open any of your broker's received apps from here - but note while you can look through the app, it will be locked, and you will not be able to edit it (as it is a record of what the broker submitted to you):
In order to create a fresh version that you can edit, and promote up to the funder, go back to the Received Apps grid, select the application you want to promote, and click Lodge to Funder:
You will be presented with a popup screen that will allow you to create a copy version of the brokers app, but in the funder's loanapp:
When you click create, Loanapp will copy the data that has been submitted by the broker and then open a new version of Loanapp, with Origin's branding:
That is unlocked and ready for you to review, amend as you need to, and then submit to Origin:
You will be able to do the following:
review and edit the application in any way you see fit, while you are assessing the loan application
this includes changing the product or loan amount
In the FILE Tab, you will be able to re-check serviceability
In the FILE Tab, you will be able to re-generate application forms (although this is probably not necessary)
In the FILE Tab, you will be able to generate a new supporting documents checklist. Note that the original s.docs submitted by the broker will be waiting in the s.docs upload section for you to re-attach to the checklist as you finalise the application
Note that as the Mortgage Manager, you will also have functionality built into the Origin workflow to assist in your credit assessment workflows. These will include:
Equifax for Comprehensive Credit Reports
Genworth for LMI approvals
When you are ready to submit to Origin, you will find the "Submit" button in the FILE TAB:
When you submit, your application will become locked, much like the broker's app to you was locked. You will then be prompted to finalise the supporting docs and also submit to Origin.
Note that any applications you promote to the funder will be now found in Funder Apps in the grid:
Once your application is submitted to Origin, they will communicate all their assessment progress and backchannel to you via TAMA.