Activated Loans
Updated 6 months ago
General
In LoanPro, loans have both an activated and a non-activated state. When you first create a loan, it is not activated by default. This means that the loan numbers aren’t being updated daily, and the loan functions as though it’s not aware of dates. For example, if a non-activated loan has a first payment date of October 1, 2017 and today's date is November 4, 2017, the loan will not know that a payment has been missed.
Non-activated loans are treated differently in other respects as well. For example, non-activated loans will not be included in the credit export.
Once a loan is activated, the numbers will be updated every day and included in the daily maintenance process.
How To
To activate a loan, navigate to Account Setup > Setup Terms inside of the loan.
As highlighted in red in the screenshot above, select 'Activate'.