Default Credit Reporting Update Process

These are additional processes that you can add to your LMS tenant to help streamline your loan servicing. You can either set them up yourself using process wizards, or reach out to your success specialist to enlist the help of our support engineers (tech support rates may apply).


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 Reporting Update process.


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

Default Credit Reporting Update Process

The Default Credit Reporting Update Process is intended to make updating credit reporting information for a loan account simple.  

Starting the Process

In the event that credit reporting settings need to be updated on an account, enter the loan account in LoanPro and navigate to the 'Wizards Tab'. Select the 'Category' drop-down and click 'Servicing'.  

The loan must be in an 'Application', 'Open', or 'Closed' status to access the wizard. To begin, click OPEN and START on the 'Credit Reporting Update' wizard. 

On this page, update all the necessary credit reporting fields. Once the updates have been selected, click SAVE and NEXT

Check the 'Bankruptcy Notification Received' checklist item to restart the bankruptcy process for the new filing. Click SAVE and NEXT to complete the process.

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