Follow-up Date Default Rules


The follow-up date feature in LoanPro is designed to help you or your servicers know when to make collections efforts on your loans. Some companies use LoanPro's promise functionality to accomplish this, but the promise functionality is not automated, and therefore requires more work than follow-up date. This doesn't have the advantage that promises have of allowing you to see the ratio of fulfilled to failed promises, but it will help you easily build your collections list by allowing you to search for loans, in the loan manager, that have today as a follow-up date. From the loan manager, you can perform any action from the data options list including, load this list to the collector queue, send email, generate billing statements, export to a CSV, generate custom forms, etc.

This article will cover the native rules in LoanPro that will update the follow-up date on a loan. If your account was created before follow-up date was available, the rules discussed in this article are likely not present in your account. If you would like to add these rules, please contact LoanPro support.

The basic intent of the native rules that control follow-up date is to ensure that follow-up date is always the day after the borrower's next due date, if they have a scheduled AutoPay, or today if the loan is past due and no arrangement has been made. These are the default rules, which means they can be changed to fit your needs.

Background Rule

This rule runs automatically without any user input. It makes the following updates to the follow-up date:

Scenario 1

If there is currently an AutoPay scheduled and the next AutoPay will run on a date in the future of today, the follow-up date will be set to the day after the date on which the next AutoPay will run, if it's not set to that date already. If the next AutoPay is part of a series of AutoPays, once it processes, a future AutoPay will be scheduled. The follow-up date will then be set to the day after that payment is scheduled to run. If AutoPays are successful, the follow-up date will always be in the future.

Scenario 2

If the follow-up date is not set, or is in the past, and the loan is past due, the follow up date will be set to the current date.

Scenario 3

If the follow-up date is in the past or today, and the loan is not past due, the follow up date will be removed. As soon as the loan becomes past due, Scenario 2 will apply, and the follow-up date will be set to the current date.

User Input Adjustments

Manual Adjustment

A user can click the follow-up date link in the loan header, or edit the loan settings to adjust the follow-up date manually.

Enter the follow-up date and click .

Action & Results Adjustment

When you create Actions & Results, you can specify how a result will affect the follow-up date by choosing the number of days in the future that the date will be set. If an agent logs an action and result, either directly, or through a process wizard, the follow-up date will be adjusted accordingly.

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