Loanapp is a lodgement tool for mortgage applications. It 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 an application through Loanapp, check your serviceability, generate supporting docs checklists and lender print forms, upload supporting docs and submit your application.

You can read more about launching from your CRM system using the suitable link below

If you need help at any time, you can live chat from within Loanapp (see details below).

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 your Aggregator system or your direct Loanapp login. (If anything is wrong, it will need to be changed in your Aggregator or Loanapp profile for future apps).

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 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, and all your application comments (which will be populated on the application form).

To build an application, you start by completing the details under the current situation tab.

For each applicant, a number of pages will need to be completed, such as contact details pages, employment pages, and proof of ID pages are created and must be completed for that applicant.

You can click through the list on the left hand side to go to each of these pages to complete the data.

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.

Loanapp has 360 MMS 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 360 MMS 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.

Simpology has some great functionality that allows you to send messages directly to your applicants, for them to read and reply to on any device. It's a great way to get further information/answer questions or gather supporting docs.

To trigger an Info Request to your applicant, Click on Info Request in the top ribbon of your application screen:

You will have a pop up appear where you can set the details of the request, and send to your applicant/s:

When the applicant replies, you will be able to review the data/doc and use in your application. For a full run-through of the info request process, click here.

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):

Icons

We have a number of icons that are used in the application like the red bells and green thumbs up to help you visually.

Once you have completed the application data (you will have all green thumbs up), you can go to the FILE tab to access supplementary functionality, such as serviceability, third party services, print forms, supporting documents checklist and upload, and the submit process.

To check your serviceability, click on the Serviceability File Menu item. From here, a PDF serviceability summary will be available.

You can digitially ID your applicants using the Biometric Verification menu item. This is an optional service - but a great way for you and your applicants to complete the required VOI for the applicant.

If you use this service, you do not need to physically (or use any other physical service) to VOI your applicants. Your applicants will receive an SMS, and the process is a convenient smart phone workflow that only takes about 2 minutes. All they need is their phone and a copy of their ID (drivers license, or passport).

The service will send a VOI report to Loanapp when completed, and Loanapp will automatically attach to your supporting docs so that you can easily when finalising your checklist.

For a full run-through of the biometric ID process, please click here.

The next step in the workflow is Bank Statements - a convenient way to gather all your applicants' bank statements that are required to support their applicant.

This menu item allows you to invite your customers to login to their bank accounts, and return to loanapp their bank statements, which will be automatically attached to the supporting docs section, waiting for you to use in finalising your checklist.

This is an optional service - but a great way for you to easily gather these documents, if you don't already have them. For a fill run-through of the service, click here.

The checklist menu item generates a supporting documents checklist listing the documents you need to attach to your application, according to the lender’s requirements. NOTE: the checklist is made available to you after you have submitted your loan (as this is when the data is finalised and an accurate checklist can be produced).

Print forms menu item 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. When you trigger print forms, Loanapp will do a quick validation check to ensure your application is complete and ready for print forms to be generated. Once verified, you will be able to generate your print forms:

Each of the print forms will generate as new webpages, which you can download to save/print:

And the Loanapp UI will reflect that they are all generated. Note that on this screen, you can also download, open or even attach to an email any of the generated print forms:

Once you have generated your Application forms, you can download for wet signatures, or use the Electronic Sign function to send the Print Forms to Applicants via email to sign via docusign:

Once signed, the documents will be returned to the supporting documents section, ready for you to use in satisfying the supporting docs checklist:

Supporting Documents Upload

Note that you can upload supporting documents both before and after you submit the actual loan application. As discussed above, any third party services you use will send any PDF results back to supporting docs.

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.

The finalisation of supporting docs (attaching the docs to the checklist), happens after you have submitted the app.

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.

When you click on Submit, 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 360 MMS.

When you have finished the submit process, you will be presented with two options.

If you click on the supporting docs option, you will go straight to the supporting documents engine.

Any documents you had uploaded prior to submitting your app will be here, as will be documents returned by the third party services. You can upload more documents as required by clicking the upload button:

You can then attach documents to the checklist items. You can attach a whole document by dragging from the 1st column on the left to the checklist item:

Or you can select pages from within a document and attach - by selecting in the 2nd column, and dragging across to the checklist item:

For a full run through of supporting docs, please click here.

Thanks for reading. Remember, you can reach out to the team at Loanapp at any time for help via the online chat icon or view the full Loanapp User Guide here.