Once a project is submitted in the OneEthos portal, the loan documents are automatically generated based on the details entered by the installer in the loan calculator and loan application. These documents are then sent to the customer via DocuSign for signature.
If any changes are made to the project after submission, the original loan agreement will be voided, and new loan documents must be generated and sent to the customer for signing.
Why New Loan Documents Are Needed
The loan documents must match the exact project information stored in the portal. When edits are made after submission, the original documents no longer reflect the correct details, which requires a new set of documents to be issued.
This ensures:
Compliance with lending requirements
Accuracy of the loan agreement
Protection for both the customer and the bank
Common Reasons New Loan Documents Are Generated
New loan documents will need to be created if there are any errors or changes made after submission
Customer Information Errors
Misspelled names
Incorrect addresses
Pricing or System Errors
Incorrect loan amount
Errors in system size or equipment details
Miscalculated pricing or adders
Loan Term Changes
The customer decides to switch to a different loan term (e.g., from 30-year to 20-year)
What Happens When Edits Are Made After Submission
The original loan agreement is voided.
A change order is created in the portal.
Once the customer approves the change, the bank is notified.
New loan documents are generated with the updated details.
The updated documents are sent to the customer via DocuSign for signing.
Best Practice
Double-check all project details before submitting the loan.
Carefully review customer information, pricing, system details, and loan terms to avoid unnecessary delays. Submitting accurate information the first time helps keep the project timeline on track and reduces processing time for both the installer and the customer.