Granite has a great set of electronic lodgement tools that make it easy for you to submit loan submissions to them. The tools include digital services, multiple (specific) Loanapp journeys, a supporting documents upload portal for your applicants, the ability for you to upload MIRs to Granite during assessment, and a loan management portal where you can see all your applications and track status. This article summarises the tools and has click-throughs for more detail.
Simpology Manager
Simpology Manager is the 'home' of Loanapp and all the other functionality Granite is providing to you. The main feature of Simpology Manager is the Application Grid, where you can see all your applications you are working on and submitted to Granite.
Simpology Manager is the 'direct' doorway to Loanapp.
Even if you usually launch Loanapp from your Aggregator CRM (and therefore not need this doorway), you will still have access to Simpology Manager as another way to manage your applications.
For a full run-through of Simpology Manager, please click here.
Loanapp Full Journey
Granite has two Loanapp Journeys. The Full Journey is the typical lodgement journey - it is configured to capture all the detail needed for lodgement and assessment of a regular loan application, with products, serviceability, print forms and supporting documents checklist.
The Granite Full Journey is also powered by a number of digital services.
For a full run-through of the Granite Full Application Journey, please click here.
Loanapp Easy Refi
Granite's alternate journey is the Easy Refi journey, and is available for applications that are <80%LVR, dollar-for-dollar refinance where the repayments on the Granite loan will be less than the existing loan.
Granite also offers the Easy Refi for SMSF submissions, where the rental income on the investment property covers the repayments.
Where an application meets these criteria, the Easy Refi journey can be used to submit. It is still powered by a number of digital services, however it requires reduced application data and supporting documents. Further credit policy and assessment is more straightforward leading to faster approvals.
For a full run-through of the Granite Easy Refi Journey, please click here
Loanapp Digital Services
Granite has incorporated a number of digital services in its Loanapp journeys to make things easier for you and your applicants; and also to speed up assessment once submitted. The services that have been incorporated are:
Digital Consent: this captures the digital consents of your applicants for the activities that require using (and sharing) their personal information
Digital VOI: this is a convenient digital verification of identity for your Applicants to complete on their mobile
Equifax Credit Bureau: conducts the Credit Bureau check on your applicants
illion bankstatements.com: allows your applicants to login to their bank accounts and for this data to then be categorised to support your declared income and expenses. This is not needed on the Easy Refi Journey - it is only in the Full Application Journey
Valuation: allows you to order a valuation on the security property
Docusign: allows you to use digital signatures for the application forms that are generated at the end of the Loanapp workflow
Secure Digital Portal
The Secure Digital Portal is a portal that:
is used by your Applicants, when they receive an invite from you to:
review and sign a digital consent
get a request for supporting documents, and to upload back to you
used by you, the broker, to send requests to your Applicants to upload required supporting documents
when you use Info Request, the Applicant will log in to the secure portal to see what you are asking for and to upload documents back to you
used by Granite to send you, the broker, requests for missing information or documents that are needed in the assessment process.
in the same way as brokers are asked to upload documents or information by you; Granite may ask you to upload missing documents while they are assessing the deal.
Granite uses Simpology to Assess your application
Note that Granite also uses Simpology to assess your application. So when you submit, it continues in the same ecosystem. This means that all you data, supporting documents, completed digital services etc are transferred perfectly. In essence, its still the same application, which means that you and the assessor are working more closely together on the application.