Default Validation of Debt Process

General

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 Validation of Debt process.

Diagram

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 Validation of Debt Process

The Default Validation of Debt Process simplifies tracking customers, and related loan accounts, who request debt verification. 

Starting the Process

In the event that a borrower requests validation of debt, navigate to the 'Wizards Tab'. Select the 'Category' drop-down and click 'Servicing'.

To start the Validation of Debt Process, the loan must be in the 'Application', 'Open', or 'Closed' status. Click   and   to begin the Validation of Debt Request Wizard. 

On this page, select 'Request Received' from the provided drop-down menu. Click  and  to continue. 

Choose an appropriate 'Action & Result' and document any additional information in a note. Save the information and click   to complete the wizard.

Validation of Debt Sent

​Once the validation of debt has been sent to the borrower, continue the Validation of Debt Process. Navigate again to the Wizards tab, and click   and   on the 'Validation of Debt Wizard'.

Select 'Validation Sent' from the drop-down menu. Click  and

Choose an appropriate 'Action & Result' and document any additional information in a note. Save the information and click   to complete the process.


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