Overview
As a Loanapp user, it is important that you aware of, and understand, the direct relationship between Lenders and Loanapp.
Essentially, Lenders can control exactly what you see in Loanapp.
Lenders manage the data set that is presented to you for completion in a dynamic fashion - i.e. they can apply changes exactly when and how they want to.
Because of this, one Lender's Loanapp may differ from another Lender's Loanapp.
Lenders can control, update and maintain all aspects of Loanapp, including:
The data that is collected about your applicant(s) to complete the application
Any lender business logic that affects the run-time behaviour of that data;
Validation rules applied to the data which tell you what data is required or acceptable;
Products, and the features and rules which affect their availability;
Which supporting documents must be collected and submitted with the lodged application and any lender business logic that determines what supporting documents are required;
Supporting documents verification rules that ensure that the actual documents you are submitting are acceptable;
Version controlled print forms that are required with an application, with business logic applied to allow pre-population of data and the correct selection of print forms;
Serviceability rules for the lender;
Pre-submission rules for the lender which run credit-like rules across the whole application.
The capability of Lenders to manage their requirements dynamically means that the data set presented to you in Loanapp is guaranteed to reflect exactly what the Lender requires at that point in time.