Default Credit Process

General

A major function of LoanPro software is to make common company processes as streamlined and effective as possible, to save users on time and manpower. This article will cover how this is generally accomplished with the Credit process. For information on logging credits/advancements see Log an Advancement/Credit.

Diagram

The flow chart below outlines all the changes and processes implemented by LoanPro directed by the agent user's inputs in the Credit Wizard. The agent user's role is outlined in this article. 

Default Credit Process

The Default Credit Process provides ease in allowing agent users to post credits to loan accounts.  

Starting the Process

In the event that a customer requests a credit, or company policy requires a credit to a loan account, the agent managing the customer's account can enter the specific loan and navigate to the 'Wizards' tab. This page shows all the process wizards available for use on the account. Some of the process wizards have certain requirements in regards to the loan that must be met in order to start the process wizard.

In order for this wizard to be available, the loan must have a positive payoff balance. If the loan account meets this condition, click Open and Start for the Credit Wizard to begin the process.

Follow the instructions on the left side of the screen to properly credit the account. More information regarding logging credits can be found in this article:  Log an Advancement/Credit. Once the credit has been logged, click Next> to advance to the next page of the wizard.

On this page select a necessary Action and Result, then document any additional relevant information regarding the credit in the note. Once you have completed and saved the note, click Next to exit the wizard and complete the process. If a note is not needed, click Next .


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