As a Mortgage Manager with a Simpology Channel, you will have
a branded Loanapp, which is used to create and submit applications to you for initial review
an Omni workflow, which is your assessment workflow to take a received application through your Mortgage Manager responsibilities before you submit to your Funder
x-channel submission capabilities to promote your finalised application across to your Funder
and many other functionalities to help you work with your team, your broker network and your funders
This article is a Master article of the general Mortgage Manager functionality, and the steps to take to receive a submission, assess it and how to get a deal settled.
Receiving your Application Submission
When you receive an application from a broker:
Loanapp (and the application data) will be 'locked' for the broker (they will not be able to change it)
however, the application data will be editable by you, as you review and assess the application
the supporting documents that have been uploaded by the broker will be available to you. You will be able to review these supporting docs; and upload more as you assess the deal
your Omni workflow will trigger to guide you through the assessment process
when you are ready, you can x-channel submit your application to your funder
and then as your funder assesses and approves the deal, you can continue to finalise the application in your Omni workflow
This article takes you through the Mortgage Manager Omni Assessment flow
When an application is submitted to you, your Omni workflow is triggered. Following is an example of a typical workflow. Read through to understand how to process a deal and the various functionality.
Process 1: Allocate Submitted Application
The first Process triggered is to "Allocate Submitted Application". This will give ownership of the application to someone on your team.
Refer to this article on how to Allocate an Application.
Process 2: Review the Submitted Application
When you have completed Process 1, the next Process: Review the submitted application will be triggered.
Following are example Action items that you might have in this Process. You will need to PASS the mandatory Action items in this Process to trigger the next one.
Action: Review the Assessment Summary
Review the Assessment Summary. This takes the assessor to a 'summary' of the application data.
gives the assessor an initial understanding of the deal
and this is where the assessor will add notes/comments as they assess the deal. Anyone else (eg Manager) looking at the deal can go straight to the Assessment Summary to get an overall understanding of it
note: the data in the Assessment Summary module can be turned into a print form/output of the Assessment when you are ready to submit to your funder
Action: Review the Loanapp data
For this step, you will launch the submitted Loanapp and review the full application.
Action: Review the Supporting Documents Checklist
This step gives you an understanding of the checklist that has been generate to match the application data with Lender logic. You will be able to check what the broker has uploaded against the checklist items. You may also want to edit any supporting document if you need to (eg redact) while you review it. (note you can also do this in the next step)
Action: Verify the uploaded supporting documents
After you have reviewed the checklist and understand what documents have been uploaded, you can begin to Verify the uploaded supporting documents using the Document Verification module. Note that you can edit supporting documents in the Verification module like in the Supporting Docs module.
You might not be able to verify the entire checklist as there might be outstanding items - for now you can verify any documents that have been uploaded; and come back to verification later (eg when you are finalising the application assessment)
Action: Issue any Missing Information Requests
This is an optional Action Item (as you might not have to issue any Info Requests).
For more detail on how to issue/use Info Requests in Omni, please see this article
PASS the entire Process
When you have 1) completed (Passed the Action Items) in this process, two things will happen:
2) the status will change to "Initial Review Complete". This will also mean the status the Broker/submitter sees will update
3) the next Process: Manager Initial Assessment will be triggered
Process 3: Manager Initial Assessment
Now that you have done your initial review; you will begin assessing the deal, ordering relevant services (eg Bureau) and forming an opinion on the deal.
Action: Generate Credit Bureau Reports
Order the Credit Bureau report via Omni Digital Widget or order offline. If you are using the Omni Digital Widget, please click here for more detail on how to order the Bureau and the associated activities.
Action: Verify the Applicant's Employment
A key element of assessment is to verify applicant Employment and Income. Please click here for more detail on how to Check and Verify Employment details and associated activities.
Action: Assess LMI Applicability
Determine if the application requires LMI, and if it does, get an LMI Quote.
Action: Issue a Conditional Approval
This is an optional step. Where you are ready, you can generate and issue a Conditional Approval Letter. Otherwise, SKIP this step.
Process 4: Prepare Application for Submission to Funder
🤩The x-channel functionality in Omni will allow you to submit the Loanapp application (and supporting documents) from your channel, to the Funder channel - you can submit electronically without needed to re-key.
The PRODUCT that has been chosen in your Loanapp will determine which Funder the application gets x-channel submitted to.
Action: Complete Final Check of the Application for submission
It's important that you have checked and re-checked the detail in Loanapp, and the supporting documents, to ensure you are submitting the correct detail across to your Funder.
Action: Generate Assessment Summary/Cover Sheet
You should include a printed Assessment Summary (Credit File) with your submission to the Funder.
You should refresh the Assessment Summary to ensure it has the most accurate, final summary data. Make sure you have all your notes/comments on the summary as this will be your Credit File.
You can then generate a copy of the Assessment Summary and any other document you need to generate to submit along with the Loanapp (eg BC Cover Sheet). To do this, use the Reporting Widget.
🤩 Note that any Forms generated in the Reporting Widget will automatically be sent to supporting documents. You can then attach any of these documents to Supporting Documents requirements..and they will be submitted to your Funder as part of your x-channel submission.
Action: Submit Application to Funder
You are now ready to submit your application to your Funder.
When you have submitted your application to the Funder, your Omni record will now be in a state of and you will also now ALSO be able to see the status of your application in the Funders' channel:
When you have 'passed' the Submit Application to Funder, the next Process will be triggered "Funder Assessment".
The rest of your Assessment flow will depend on your Funder.
Where your Funder is also using Omni, you are now 'connected' to their assessment activities for this deal. Click here for a full run-through of how to continue with your Omni assessment with a 'connected' Omni.
Where your Funder is not using Omni, you will have a different experience to complete the assessment flow. Click here for how to continue with your Omni assessment with a Funder that is not using Omni to assess.
Process 5: Funder Assessment
Where Origin is the Funder | Any other Funder |
Where Origin is the Funder, their activities will automatically update your Omni record. | Where the Funder is any other that Origin, you should check on the Funder to understand the Status of the Application |
When Origin has issued Conditional Approval, your Omni Status will be automatically updated | Where Funder issued Conditional Approval, you will need to manually update the status. |
Where Origin issues Conditions, these will be added automatically to your Omni workflows as Action Items. | Where Origin issues Conditions, you will need to add these to your Omni workflows via the Assessment Summary. |
Process 6: Conditional Approval Granted
When the status changes to Conditionally Approved (either by Origin auto-change or by manual status change), the Process: Conditional Approval Granted will be triggered
Where Origin is the Funder | Any other Funder |
Where Origin issues Conditions, these will be added automatically to your Omni workflows as Action Items to complete. You will need to re-create these Conditions in your Assessment Summary in order to have them populate on your Approval Letter. You are able to forward these Conditions to your broker/applicant via an Information Request. | Where your Funder has issued Conditions for approval, you are able to create them in your Assessment Summary for record. They will then become Action Items; and you are able to forward these Conditions to your broker/applicant via an Information Request. |
Generate a Conditional Approval Letter | Generate a Conditional Approval Letter |
Where a refinance: request a Discharge Form via Info Request | Where a refinance: request a Discharge Form via Info Request |
Process 7: Order Valuation
Now that you have Conditional, you will be ready to Order a Valuation.
Where you have integrated Valuation, order via Omni.
Otherwise order the valuation off-system.
Where you have an AVM result, you can move straight to Valuation Received; otherwise the Status will change to Waiting on Valuation.
Process 8: Valuation Received
With the Valuation received, you will take a number of actions such as:
Action: Review Val and update application where required
Where the valuation has a materially different outcome to what was expected, you should update Loanapp where required. You should also note your findings in the relevant section of the Assessment Summary.
Action: Check val fees and update Loanapp fees section
You should finalise the valuation fees in the Loanapp fees section.
Action: Issue Info Request where the deal needs rework
Where the valuation result means that the deal needs to be re-worked, you will need to communicate your findings to the broker/applicant and get confirmation of the preferred new deal structure. You should do this by raising an Info Request in the relevant Action Item.
Action: Review LMI Applicability
Where LMI is now required, you will trigger an extra LMI Process.
Where LMI is not required, the status will move to Prepare Application for Submission to Funder.
Process 9: Finalise Conditions and Submit for Formal
You will now be ready to ensure all your Conditions are met and ready to request the Funder to issue Formal Approval.
Where Origin is the Funder | Any other Funder |
Where Origin has issued Conditions, they will be Action items in your flow which will need to be marked "Done".
You will also need to make the conditions in the Assessment Summary, "Met" | Where you have created Conditions in the Assessment Summary, you are able to set these conditions as "Met" |
You will then wait for the Formal from your Funder | You will then wait for the Formal from your Funder |
Where Origin Formally Approves your deal, your status will automatically update. | Where Funder Formally Approves your deal, you will need to manually update the status. |
Process 10: Formal Approval Granted
Action: Generate and Issue Formal Approval Letter