Actions & Results
Actions and Results are a great way to standardize the notes your servicers create when servicing loans. There are several reasons why you may want to do this, but the most common reasons are:
- Monitoring the need for non-integrated, loan-servicing processes.
- Tracking the effectiveness of your servicers.
For example, if you have the action of collections call, and the results of payment made, message left, no contact, and bad number, you could use these to pull a report that would show the actions and results by servicer. This would let you see the results your servicers are getting when they try to collect money.
For information on how to use the API to use Actions and Results, check out our API – Actions & Results article.
Creating an Action
To create actions and results, navigate to Settings > Loan > Labeling > Action & Results inside your account.
To add an action, click Add.
Enter a title and a description for the action. Then, click Add Result to associate a result to the action. You can associate as many results as you want.
Choose the result you want to associate with the action from the "Result" drop-down list. If there are no results available, they will need to be created in the Results section, which is explained in the next section of this article. Choose whether this result should adjust the follow-up date (the date when you should next follow up with the customer). Do this by choosing a base date from the "Adjustment base" drop-down. Enter an integer that represents the number of days in the future of your adjustment base date that the follow-up date should be set. When you are finished, click 'Save'. Now, click 'Save' for the action.
Creating a Result
To create a result, make sure you are on the Results tab of the Action & Results page.
Enter a title and a description for the result, and click Save.
Using Actions and Results
To record an action inside a loan, navigate to Servicing > Notes/Alerts > Actions & Results inside of the account.
To add an action and result select Add Actions & Results then choose an action from the "Action " drop-down and an associated result from the "Result " drop-down. Enter a note about the action in the "Note " section and click Save.
Search For Actions
Actions are uniform notes, so you can search for times when similar things happened on your loans. This may help you see what services were able to accomplish, or help you find loans that need further action. To search actions, navigate to Reports > Transactions History > Action & Results.
Use the search functionality on the left to find the actions and results that you are looking for. Most of the search functionality is the same as in any report, but the Action and Results drop-down menus will help you find specific actions and results.