When a loan is closed, you can choose to archive it. It is intended that you will archive loans only after you decide that they will no longer be serviced. LoanPro’s back-end processes don’t run on an archived loan. So if you archive a loan, the numbers will no longer be automatically updated every day and no rule evaluations will be run on them, etc.
Archived loans are useful if you need to pull data from them for tax audits or to prove you are keeping records for old loans in accordance with the law.
Archiving a Loan
To archive a loan, navigate to Account Setup > Setup Tools > Live/Archive inside the loan.
Note: This tool is not available if the loan is not activated.
If a loan has been archived in error, you have the option to resurrect (or re-activate) it. There is a cost associated with this action.
You also have the option to fully delete a loan from this page. Make sure you really want to delete the loan before choosing to do so, because deleting a loan will remove the loan information from our database and it may not be possible to recover it. If we are able to recover it, you will be required to pay for the time spent in the recovery effort.
Note: You cannot delete an archived loan. Archived loans must be resurrected before they can be deleted.