Create a Loan - Full Process (Import & API)

General

How To Create a Loan Through the API

When creating a loan through the csv import or through the API, following these steps will help create a more seamless process. 

  1. Create the Customer: A customer needs to be created in order to link that customer to that loan in the loan creation process. If a customer has already been created, you simply use the id of that current customer to link them to the loan. Note: If you have already created the payment method for the customer inside of PCI Wallet, you can link it to the customer in this step. Or, if you would like, you can combine the API calls if you have the PCI Wallet token. More information regarding this process can be found in this article: API – Create New Payment Profile Process. To create a customer, use the sample payload below as an example:
{ 
"status": "Active",
"customerType": "customer.type.individual",
"customerIdType": "customer.idType.ssn",
"gender": "customer.gender.male",
"generationCode": "customer.generationCode.none",
"Phones": {
"results": [
{
"__ignoreWarnings": true,
"phone": "2524732111",
"isPrimary": "1",
"isSecondary": "0",
"delete": false,
"_index": 0,
"type": "customer.phoneType.cell",
"__isDirty": false,
"carrierVerified": 1,
"__lookupInProgress": true,
"carrierName": "",
"isLandLine": 0
}
]
},
"PrimaryAddress": {
"__ignoreWarnings": true,
"country": "company.country.usa",
"address1": "1401 NATIONAL PARK DR",
"zipcode": "279549451",
"city": "MANTEO",
"state": "geo.state.NC",
"geoLat": "36.0266693",
"geoLon": "-75.6704825",
"verify": true
},
"CreditScore": {
"equifaxScore": 610,
"transunionScore": 634,
"experianScore": 590
},
"MailAddress": {
"__ignoreWarnings": true,
"country": "company.country.usa",
"address1": "1401 NATIONAL PARK DR",
"zipcode": "279549451",
"city": "MANTEO",
"state": "geo.state.NC",
"geoLat": "36.0266693",
"geoLon": "-75.6704825",
"verify": true
},
"CustomFieldValues": {},
"__ignoreWarnings": true,
"birthDate": "1871-08-14",
"firstName": "Orville",
"middleName": "",
"lastName": "Wright",
"ssn": "120175200",
"driverLicense": "C606346",
"accessUserName": "FirstInFlight2",
"email": "firstinflight@wrightbros.com",
"References": {
"results": [
{
"name": "Susan Koerner",
"relation": "customerReference.relation.mother",
"Address": {
"country": "company.country.usa",
"address1": "123 Theology St",
"zipcode": "45402",
"city": "Dayton",
"state": "geo.state.OH"
},
"primaryPhone": "7445654561",
"secondaryPhone": ""
}
]
},
"Employer": {
"phone": "3945191400",
"payDate": "2017-10-13",
"Address": {
"__ignoreWarnings": true,
"country": "company.country.usa",
"address1": "1401 NATIONAL PARK DR",
"zipcode": "27954-9451",
"city": "MANTEO",
"state": "geo.state.NC"
},
"hireDate": "1886-03-10",
"incomeFrequency": "customerEmployer.incomeFrequency.annually",
"payDateFrequency": "customerEmployer.payDateFrequency.biWeekly",
"income": "2950.00",
"companyName": "Wright Printing Offices & Shop",
"title": "Owner / Operator"
}
}

When creating a customer, include all relevant and necessary information such as name, birthdate, address, phone number, email address, etc. For more information regarding customer creation through the API, see this article: API – Creating a Customer. Also, see API - Linking and Unlinking Customers and Loans for information regarding linking customers to loans.

  1. Create the Loan: When creating the loan either through the API, include the id of the customer you created or the id of the current customer in order to link them to the loan. 
{
  "displayId": "L001000",
  "LoanSetup": {
    "loanAmount": "12000.00",
    "discount": "500.00",
    "underwriting": "0.00",
    "loanRate": "12.0212",
    "loanRateType": "loan.rateType.annually",
    "loanTerm": "36",
    "contractDate": "2015-05-07",
    "firstPaymentDate": "2015-05-08",
    "amountDown": "0.00",
    "reserve": "5.00",
    "salesPrice": "12000",
    "gap": "1120.",
    "warranty": "2500",
    "dealerProfit": "1000",
    "taxes": "125.25",
    "creditLimit": "15500",
    "loanClass": "loan.class.carLoan",
    "loanType": "loan.type.installment",
"scheduleTemplate": "0",
    "discountSplit": "1",
    "paymentFrequency": "loan.frequency.monthly",
    "calcType": "loan.calcType.simpleInterest",
    "daysInYear": "loan.daysInYear.frequency",
    "interestApplication": "loan.interestApplication.betweenTransactions",
    "begEnd": "loan.begend.end",
    "firstPeriodDays": "loan.firstPeriodDays.frequency",
    "firstDayInterest": "loan.firstdayinterest.yes",
    "discountCalc": "loan.discountCalc.straightLine",
    "diyAlt": "loan.diyAlt.no",
    "daysInPeriod": "loan.daysinperiod.24",
    "roundDecimals": "5",
    "lastAsFinal": "loan.lastasfinal.no",
    "curtailPercentBase": "loan.curtailpercentbase.loanAmount",
    "nddCalc": "loan.nddCalc.standard",
    "endInterest": "loan.endInterest.no",
    "feesPaidBy": "loan.feesPaidBy.date",
    "graceDays": "5",
    "lateFeeType": "loan.lateFee.3",
    "lateFeeAmount": "30.00",
    "lateFeePercent": "10.00",
    "lateFeeCalc": "loan.lateFeeCalc.standard",
    "lateFeePercentBase": "loan.latefeepercentbase.regular",
    "paymentDateApp": "loan.pmtdateapp.actual"
  }
}

This section will include all information pertaining to the actual loan terms such as total amount, interest rate, contract date, etc. For more detailed information, view API – Create a Loan.

  1. Potential Loan Tools: After activating the loan, implement any loan tools that are necessary or applicable. These additional resources may be helpful in this step: API – Schedule RollAPI – Roll PaymentAPI – Suspend/Resume InterestAPI – Modifying a LoanAPI – Advancement/CreditAPI – Amount Past Due AdjustmentsAPI – Archiving Loans/Resurrecting LoansAPI – Change Due Date, and API – Days Past Due Adjustments
  2. Loan Settings: After setting up the loan, include all the loan settings applicable to the account. Note: The loan settings can be combined with the Loan Setup payload if wanted. Use the sample payload below as a starting point:
{  
"LoanSettings":{
"id":598,
"loanId":639,
"cardFeeAmount":"5",
"cardFeeType":"loan.cardfee.types.1",
"cardFeePercent":"5",
"agent":0,
"loanStatusId":1,
"loanSubStatusId":1,
"sourceCompany":null,
"eBilling":0,
"ECOACode":"loan.ecoacodes.1",
"coBuyerECOACode":"loan.ecoacodes.0",
"creditStatus":"loan.creditstatus.0",
"creditBureau":"loan.creditbureau.00",
"reportingType":"loan.reportingtype.I",
"secured":1,
"autopayEnabled":0,
"repoDate":"",
"closedDate":"",
"liquidationDate":"",
"followUpDate":"2019-01-01",
"isStoplightManuallySet":0,
"merchantProcessorGroupId":0,
"__update":true,
"__id":598
},
"__update":true,
"__id":639
}

The following article can provide additional information as well: API – Loan Settings.

  1. Activate Loan: Once the loan has been set up, you will need to activate the loan. Activating the loan will also run the loan calculator, so it will calculate the necessary loan number before the loan is activated. This is going to be another POST request to a URL with this endpoint: Loans({id})/AutoPal.Activate(). API Activate a Loan can provide additional information regarding loan activation.

In order to effectively set up a loan in LoanPro follow the steps above using the correct payloads. This is the recommended method of loan creation. 

How To Create a Loan Through the CSV Import

When creating a loan through the csv import, following these steps will help you complete the process. All of the necessary information to fill out a csv import can be found in the import section of LoanPro. You can find this section by navigating to Settings > Company > Import > Instructions & Samples. In this section you will also find sample csv files for each of the imports which you can use as a starting point to fill out your own csv file. Remember to fill out all of the required fields and also make sure the fields have the correct expected values. 

  1. Create the Customer: A customer needs to be created in order to link that customer to that loan in the loan creation process. If a customer has already been created, you simply use the id of that current customer to link them to the loan. Include all of the required information and the relevant information as well. Note: In the csv import, the customer payment profile and customer information imports are separate. They must be created and submitted as two separate spreadsheets. If you create the customer first, you can use the customer id to then link the payment profile to that customer. 
  2. Create the Loan: When creating the loan either through the API or through the csv import, include the id of the customer you created or the current customer to link them to the loan. This article shows the basics of creating a loan through the CSV import tool: Loan/Lease Import for csv imports.
  3. Potential Loan Tools: After activating the loan implement any loan tools that are necessary or applicable. Most of the loan tools can be found in the Loan Transactions section. Follow the instructions and include all of the fields that are marked as required.
  4. Loan Settings: After setting up the loan, include all the loan settings applicable to the account. 

Make sure to include all of the required fields and also all of the relevant fields as well. 

  1. Activate Loan:  Activating the loan will use the Loan Account > Tools > Actions import.  In the tool field you will use the expected value "activate". 


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