Loanapp is an alternative method of submitting your loans to Lenders.
It is an electronic lodgement tool that offers a great new user experience and functionality designed to make data entry and submission to your Lender faster and easier.
1. Launching Loanapp
Access to Loanapp is found under the 'Lodge To' dropdown in the Opportunity menu.
First, create an Opportunity, then select the Lender. Click on the 'Lodge To' button and Loanapp will appear if your chosen Lender is on the Loanapp panel.
Click on Loanapp to trigger a pop-up window, allowing you to finalise the application details, choose your advisor and launch the application into Loanapp.
2. Creating an Application
Make sure you've chosen a supported lender from the Opportunity, as this gets carried across to this section. Once you click on Lodge To and choose Loanapp, a pop-up window will appear. Enter the details for your new application (if they haven't auto-populated):
- Application Name - carries across from the Opportunity
- Lender - carries across from the Opportunity
- Product Group - carries across from the Opportunity
- Documentation Type - carries across from the Opportunity
- Accreditation Number
Click OK, to launch your application.
Loanapp will open, auto-populated with any data you had entered into Mercury under the Opportunity or associated Contacts:
Complete your application and submit it up to the Lender.
Remember that Loanapp guides you all the way from data entry, generating serviceability & supporting docs checklists, Lender print forms and supporting docs upload. To find out more on this, click here.
Back in Mercury, you will now see the application that you have created in Loanapp on the Opportunity Summary screen. You can double-click on it at any time to re-open that application in Loanapp.
3. Sync Back Data Into a New Opportunity
You may be familiar with the Update feature from AOL, it is now available in Loanapp too! This allows you to back-fill data from an existing Loanapp Application back into a Mercury opportunity, and makes it easy for you to re-use this data you had entered into Loanapp on a new submission through either Loanapp or AOL.
To back-fill Loanapp data back into Mercury, follow these steps:
Create a new Opportunity for your applicant (for this article, our applicant is Barry Jones).
When you are in Barry's opportunity screen, you need to first choose a Loanapp-supported Lender from the Opportunity. (the functionality only works if you choose one of our lenders at this stage. This doesn't mean you can't use the data on an un-supported lender...more on that below.)
Then click on Lodgements.
Click on Attach.
This will trigger a pop-up window allowing you to search and choose the Application you'd like to sync data from. You can type in Jones to find all Loanapp applications that you have already created for Barry:
Choose the correct Jones Application you want to backpopulate with, check the box to confirm you want to update this opportunity and click Update.
When you click update, Mercury will grab all the data you had in Barry's Loanapp application and insert it into Barry's Mercury Opportunity.
When the update is finished, you'll be taken to the Opportunity screen. You'll note you now have data populated in the tree on the left - eg in "contacts" and "A and L":
And if you click into Barry's details, you'll see all his contact and employment details:
If you want to now use this data to submit to another lender, go back to the opportunity you want to submit, select your lender, and then click "lodge to" (which will be the button if Loanapp is available) or "start ApplyOnline Application" (which will be the button if Loanapp is not available):
4. Loanapp Summary Screen
The Loanapp Summary screen, referred to as Lodgements on Mercury, is where you view Loanapp applications (for lodgement to Lender) for your Opportunity.
On this page you will notice a Help button, you can click on this at any point to get directed to this article. Not only can you read the article there but you can also chat to us directly by clicking on the icon at the bottom of the article.
If this is the first Loanapp application you have created for this Opportunity, there will be a message advising you to click Lodge To to start a new application.
5. Copy Applications Under the Same Opportunity
If you have more than one application for this Opportunity, you can save yourself the time and effort of typing up a whole new application by simply copying an existing one (eg if you want to submit to a different Lender).
To copy, you need to be in the Opportunity you created for this application. Go to the Lodgements screen on the left hand side.
The Lodgements tab will display a list of all associated application with the same Opportunity.
Click once on the Loanapp application you want to copy. This will enable the Copy button. Click on it.
The Copy Application pop up window will display. Update the fields as required (eg select a different lender) then click OK.
Your new application will open in Loanapp with the chosen Lender:
All data previously entered in Loanapp, under the original application will be copied across to this newly created application. You can update, add or delete any data prior to submitting to the Lender.
All applications created for the Opportunity in Mercury will appear in the Lodgements screen.
6. Delete an Application in your Loanapp Summary screen.
You can delete applications within your dashboard. In the case that you accidentally created the wrong application, it's simple - delete it with a click of a button!
Click once on the desired application until you see it's highlighted, then click Delete.
This will trigger a pop-up window. The delete button will remain disabled until you confirm deletion by checking the box.
7. Change Advisors
If you have an Administrator role with access to your whole team's workflow and you'd like to type in an application for a broker, you can allocate it to them although you've logged into Mercury using your credentials. There are two ways to do this.
- Allocate it to an Advisor before you start the application
Click on Lodge To > Loanapp.
This will trigger a pop-up window to open, complete all fields and make sure to choose the relevant Advisor from your team, whose name should be listed in the drop-down menu.
2. Change Advisor after you've created the application
Click once on the desired application until you see it's highlighted. You will notice that Change Advisor is no longer grayed out.
Click on Change Advisor. This will trigger a pop-up window to open confirming the current Advisor on the application and allowing to select a new Advisor. Choose from the drop-down menu then click OK.
In this example, you would've noticed that our initial Advisor was Wilde Coyote and has since changed to Elmer Fudd - as reflected in the Loanapp Summary screen.
This will also be reflected when you open the application in Loanapp. Click on the Precursor tab and go to Sales Channel.
- Once you close Loanapp all data is saved. If you wish to go back into Loanapp to complete or view your application, go to the Loanapp Summary screen in Mercury and double-click on the relevant application. This will open the application in Loanapp.
- Deleting an application in Mercury will also permanently delete it from Loanapp.
- Loanapp is only available for certain Lenders. If the Loanapp button appears when you select a Lender, you know that you can submit using Loanapp.
Need help? Get in touch!
We have an Online Chat functionality available for you. If you need help using Loanapp, our team is happy to assist you.
There are several ways to get in touch with us:
- If you haven't launched Loanapp yet and are reading this article (by clicking on the Help button in Mercury), simply click on the Blue icon in the bottom right of the screen to chat. You can chat to us on weekdays between 9am-5pm.
2. If you've launched your application through Loanapp, then click on the chat button located 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;
Currently, you can lodge to the following lenders with Loanapp:
Connective Home Loans
Better Choice Home Loans
La Trobe Financial
Australian First Mortgage
More are coming!