Default Debt Sale Process


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 Debt Sale process.


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 Debt Sale Process

The Default Debt Sale Process simplifies selling and/or repurchasing loan accounts. 

Starting the Process

In the event that a loan account is being sold or repurchased, enter the loan account in LoanPro and navigate to the 'Wizards Tab'. Select the 'Category' drop-down and click 'Others'.

To start the Debt Sale/Repurchase Process, the loan must be in the 'Application', 'Open', or 'Closed' status. Click OPEN and START to begin the Wizard. 

On this page select the appropriate 'Debt Sale Status'. If 'Approved for Sale' is selected, also select the associated 'Debt Buyer'. Click SAVE and NEXT to continue. 

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

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