If you have been configured with Mortgage Manager functionality, you are able to:
receive an application submission in your channel (eg from a Broker)
review and update the application with your Mortgage Manager activities
x-channel submit the application to your Funder (create a new application record in the Funder channel for the Funder to then receive and process)
This article takes you through how to x-channel submit to your Funder.
How/where do I x-channel submit?
The Submit button that sends your application across channels to your Funder/s is in Omni, at the top of your application Omni record. Note that this button will not be enabled until you have got to the Assessment stage that allows you to submit to your Funder (this will depend on your Omni configuration).
⚠️ Remember that an exact replica of your Loanapp application and supporting documents will be submitted and created in your Funder channel...you need to be sure you have finalised your review and you are ready to submit.
When you are ready to submit to your Funder, click Submit Application. You will get a final "Are you Sure" message.
If you have x-channel linkages with more than 1 Funder, you do not need to choose a Funder - this will be automatically determined by the Product that has been chosen in your associated Loanapp application. eg
if your Loanapp application has chosen a product that is funded by Funder A, then the submit button will send your deal to Funder A
if your Loanapp application has chosen a product that is funded by Funder B, then the submit button will send your deal to Funder B
You can be connected to any number of Funders...as long as Simpology supports the x-channel submit to those Funders.
When you press Submit, you will see Omni go into "Loading" status - it is packaging up your application and submitting it to your Funder:
The x-channel submission will take about ~1min. When it is complete, you will get the following confirmation:
After a moment, you should refresh your browser, and you will see the status update:
The application status will update to Submitted to Funder
A broker logging in to your channel will understand the deal has gone to the Funder:
And a copy of your application will have been submitted into your Funder's channel:
You will no longer be able to edit your version of the application
Because you have submitted the application to your Funder, your own version will now be locked and you will not be able to edit it. This is so the detail you have submitted is preserved.
What if I get an error?
You might get an error when you try to x-channel submit. This will be because you haven't got a valid set of data to be able to submit across to your Funder. The Error message should tell you what the issue is - go back into your application and fix the error and then try again:
What happens next, once you have submitted to your Funder?
Your Funder will now have received your submission - a replica record will have been created in their channel. They will start assessing the deal, and communicate with you the status of their activities in two ways:
For Funders also using Omni to Assess:
they will be 'linked' and communicate to you via Omni.
You will note when you successfully submit, you will get a new layer to your status - basically you will also see the status on your application in the Funders Omni.
For these Lenders, you do NOT need to update statuses, as your Omni will automatically update as they work through Assessment. For a full run-through of what happens with a 'linked Omni Funder' - click here.
For Funders not also using Omni to Assess:
for Funders who are not also using Omni, they will communicate their assessment statuses and activities in their own way.
For these Lenders, you DO need to update statuses in your Omni. For a full run-through of what happens with a non-Omni Funder - click here.