Loanapp is a new lodgement tool that has a great new user experience designed to make data entry faster and easier; and all the functionality that you need to complete a loan submission like auto-populated Application Forms, fast and easy supporting docs upload, and built in serviceability.
This is a guide on how to complete a Connective Home Loans Essentials application through Loanapp, submit it to the lender, generate serviceability, supporting docs checklists, lender print forms and upload supporting docs.
To watch a general video on Loanapp functionality, click here. For a more specific tutorial on how to use Loanapp from Mercury, and to lodge to Connective HL Essentials, please read the article below.
If you need help at any time, you can live chat from within Loanapp (see details below); or send an email anytime to email@example.com
How to launch Loanapp within Mercury
- Create a new opportunity in Mercury for your loan application
- Select Connective HL Essentials by Advantedge as the Lender
- The Loanapp ‘button’ will appear under 'Lodge to' on the dashboard:
When you click “Loanapp”, you will trigger a pop-up window to appear requesting a few more details. Once you launch the application, the Landing page of Loanapp will look like this:
The data you have entered into Mercury will have transferred across to Loanapp, for you to finalise the application, and submit up to the Lender. Loanapp has a number of features including the Application Form, Serviceability, Print Forms, Supporting Docs Checklist and Upload, and Backchannel.
Loanapp has a number of Tabs and Menu items that represent sections of a loan application, and make it easy for you to move about to different sections of the application. (NOTE – you can complete an application in any order you wish).
The precursor tab is where you land, when you first open Loanapp. The Precursor tab is mostly auto-filled with information about you, the creator and submitter of the loan. This data will have come from your credentials within Mercury (so if anything is wrong, it will need to be changed in your Mercury profile for future apps).
Current Situation Tab
Current Situation Tab is where you complete all the information about your applicants’ current situation. Here you add Applicants, their contact and employment details, and their existing Assets and Liabilities.
New Requirements Tab
New Requirements Tab is where you add the details of this loan application, such as new properties being purchased, and also the loans that are being applied for. You can also add the details of any contribution funds being provided in the application.
The Summary Tab is a simple tab that captures the details for preferred delivery of Mortgage Documents.
Building an Application
To build an application, you start by completing the details under the current situation tab.
First you add the Borrowers and/or Guarantors, by choosing the appropriate menu item for Person, Company or Trust Applicants.
When you add an applicant, a number of pages will appear that will need to be completed. You will note the page menu on the left hand side will expand as you add applicants. These pages will each have sets of data that need to be completed. For example, when you add a person applicant, contact details pages, employment pages, and proof of ID pages are created and must be completed for that applicant.
When you have completed the Borrowers and Guarantors, you can then build the Statement of Position by adding Assets, Liabilities and other income to the application.
There are a number of user interface features to help you work through the application.
Help – The Blue Button
The most important button we want you to know about is the help button in the bottom right corner. When you click on this button, you'll notice this has triggered a pop-up window to open providing you with two options to choose from:
- Get Support by 'starting a new conversation' - our online chat service where you can get in touch directly with our friendly Loanapp support team
- Our Help Centre by 'finding an answer quickly' - where you have access to many useful articles and videos that may assist in your query;
Live Business Validation
Loanapp has Lender validation rules built into it. When you open an application, you will be able to see visually what data needs to be completed in a few ways:
a. Fields that must be completed will have a Red border. Fields with a neutral border you can complete if you like, but the Lender doesn't necessarily require the information.
b. Pages or sections that are not complete and have something missing can be identified by the Red bell symbol. When a section is complete, you will have a Green thumbs up symbol.
Unsatisfied validation rules for each page are always listed in the “messages” list in the top right corner of each page:
These rules will disappear as you type in the correct data.
Grabbing Data From Other Sources
We have a few third party sources that we pull data from so that you don't have to type it in
For example, when you are adding in a security property, we have type ahead functionality to find the correct property, which calls out to CoreLogic and pulls down a whole lot of information about the property that is inserted into your application:
We also call out to ABN Lookup when you are adding a company (eg an employer):
We have a number of icons that are used in the application like the red bells and green thumbs up to help you visually.
You can add free-text comments to support the data you are entering on a number of pages in Loanapp, where-ever you see the Comments button:
When you click on this button, you are presented with a comments popup where you can add free-text comments relating to that section of the loan application:
Any comments you add will be printed in the comments section of the short form application, and also sent up the lender electronically when you submit your application.
The File Tab
Once you have completed the application data, you can go to the FILE tab to access supplementary functionality, such as serviceability, print forms, supporting documents checklist and upload, and the submit process.
Summary and serviceability
When you have completed a valid application (ie no more red bells, all green thumbs up), you can generate the summary and serviceability reports which break down the details of the application for easy visual review; and calculate the serviceability of the application.
You can generate different reports by clicking on the menus within the summary and serviceability tabs.
You can email any of these reports directly from Loanapp:
The Submit Process
The submit process does a quick validation check of the application. If anything is outstanding, you will be able to click through from the validation check to the right section of the application to complete anything that needs amending.
If there is anything that has not been completed correctly in your application, the validation process will identify it and ask you to complete the missing requirement (you can click on any missing items to be taken back to the right place in the application):
Once the validation data requirements have been completed you will be able to submit. Loanapp will do a final check of serviceability
The following screen will then appear allowing you to Submit the Application:
The final screen is where you need to confirm you are ready to submit; then submit the application to Connective.
You will now receive your LRN Lender reference number and be able to submit your supporting docs.
When you have finished the submit process, you will be presented with two options.
- Finalise Supporting Documents, where you can upload and allocate your documents and submit to the lender.
- Re-Open your submitted application in read only mode
If you choose option 1, you will go straight to the supporting documents engine
If you choose option 2, you will go back into your submitted app. Your Lender Reference Number will be on the right side of the yellow bar; and you can click on the Red button to finalise and submit your supporting documents to the lender.
Supporting Documents Checklist
The checklist menu item generates a supporting documents checklist that is created for your application scenario, against the lender’s requirements. NOTE: the checklist is made available to you after you have submitted your loan.
Print forms menu items generates all the required forms for your application, completed with the application data and ready for review and signature. You can generate the Print Forms before submission when you have a valid application (no red bells); or after submission at any time.
Supporting Documents Upload
You can upload supporting documents both before and after you submit the actual loan application. But keep in mind that if you upload any documents before you submit, this is just a handy way to house your docs as they come to hand, while you are building your application. This will not be submitting the docs to the lender.
To upload documents before submission, click on the FILE tab, and in the FILE menu, scroll down to Supporting Docs. When you click on here, you will open the Supporting Documents engine that allows you to upload your documents.
You can drag and drop files or click the "add files" button to open your file menu to select files to upload.
After you submit your loan, when you go back into supporting documents (in the FILE tab), you will go into the full version of the supporting documents engine. The engine has a number of panels.
- Panel 1 displays the first page of each of your uploaded documents.
- If you click on a front page in Panel 1, Panel 2 displays all the pages in that particular document.
- Panel 3 is the checklist you must satisfy for this loan.
- If you click on an item in Panel 3, Panel 4 displays all the documents the lender allows to satisfy that particular requirement.
To upload more documents, click UPLOAD in the top left corner to select from your files, or you can drag and drop into the first panel. You can upload all sorts of files - PDF, JPEG, PNG, Word, Excel.
When you have uploaded all your documents, you can drag a full document from the first panel, or particular pages from the second panel, across to a requirement and attach it to satisfy the condition.
Depending on Lender requirements, you may need to validate the document. If you do, you will be presented with a new screen with a large image of the document (you can click through the pages on the left if you need to), and the items the lender requires you to confirm on the supporting document. You will need to click the verification rules, and save:
When the documents are "attached", they will be visible on Panel 4, and the condition in Panel 3 will be satisfied (it will have turned Green):
Click through all the requirements, attach the required documents, and the 'completed' and 'remaining' counters will change accordingly, as you turn items Green. When you have completed everything, you will have all green items, and no further documents required:
Supporting Documents Tools
You can create exceptions if you need to submit something that doesn't quite match the checklist by selecting the requirement in Panel 4, and before attaching something, clicking "create exception":
You might also want to send "other" documents to the lender (that were not listed on the checklist. Loanapp allows you to upload and attach "other" supporting documents by attaching to the "other" item in the Task List.
Resubmitting Supporting Docs
Often you will need to send up additional supporting documents after you have sent up your initial batch...for instance, if the lender has reviewed your submission and asked for other documents.
When you re-open the Supporting Documents engine,the first batch of supporting documents that you have uploaded and submitted to the lender will still be visible for review; and there will be a yellow bar across the page with the date of the first submission; and which means you cannot EDIT what you have already done:
When you trigger re-submit, the yellow bar will turn green, and you will be able to attach more documents:
When you’ve attached the new docs, you will need to trigger the “Submit Documents to Lender” function:
After submission, the Backchannel tab becomes available under the FILE Tab, and Backchannel from the lender can be viewed here in the application:
Thanks for reading. Remember, you can reach out to the team at Loanapp at any time for help via the online chat icon.