Applications – Manage an Application

General

AutoPal makes it easy to manage and process submitted applications. Understanding the tabs and sections of an application is an integral component to successfully operating of the Loan Origination Module.

How To

To access an application, select: Applications > Applications List > Manage (located to the right of any application).

applications-manage

Once on this page, simply select the “manage” icon, to access the application.

applications-manage-overview

The application is organized in a simple, well thought out manner. Located at the top of the application, you will see a section that displays the unique system-assigned application ID, the applicant’s name, contact information, and application status.  To the left, you will see a series of options in column format helping make navigation of the application easy. By selecting any item from the left-hand column, you will be redirected to that specific section.

Deal Numbers

The deal numbers section includes values submitted by the client and the requested amounts. Additionally, you will be able to edit the deal numbers and begin the underwriting process by selecting the “Lender Review” icon.

applications-lender-review

Once the “Lender Review” icon has been selected, the deal numbers will become accessible, where you can then enter terms concerning the potential loan. Once the terms have been entered, you can use any of the options listed along the bottom of the page that allows you to further the underwriting process or simply save your entries.

  • Save Only:  By selecting this option the terms you have entered will save only, and the status of the application will not change.
  • Approve: By selecting this icon, the application will transfer to an approved status, opening an additional toolbar allowing you to configure the pending loan. This process is covered here:
  • Counter: By selecting this option, the requested numbers will have been countered, giving the applicant an option to accept new terms.
  • Decline: By making this selection the application will be denied, changing the status to declined, and giving you the option to close or delete the application.
  • Info Needed: By making this selection, the application will be set to “Info Needed”. Generally, the applicant will submit new information / documents, and the underwriting process will resume.
  • Delete Application: By making this selection you will have the option to fully delete an application from the applications list. Please note that after making this selection, the option “Permanently Delete” must be selected to finalize the deletion of the application. Additionally, once deleted, applications are non-recoverable, meaning once deleted, there is no recourse for recovery.

For more information on the application to loan conversion process, please see the following article:

Applicant’s Info

The “Applicant’s Info” tab is where the personal information submitted by the borrower is viewable for underwriting.

applications-applicant-info

The Applicant’s Info tab is broken into three primary areas, Summary, Advanced, and Employer.

  • Summary: the summary section includes the following fields:
    • Name
    • Current Address
    • Primary Phone
    • Secondary Phone
    • Email
    • Date of Birth
    • Social Security Number
  • Advanced: the advanced section includes the following fields:
    • Gender
    • Marital Status
    • Housing Status
    • Mailing Address
    • Previous Address
    • Time at Current Address
    • Time at Previous Address
    • Drivers License
    • Number of Dependents
    • Rent per Month
    • Total Monthly Payments
    • Credit Score
    • Bankruptcy
    • Repossession
  • Employer
    • Current Employer
    • Current Title
    • Current Phone
    • Current Gross Income
    • Time at Current Employer
    • Current Employer Address
    • Previous Employer
    • Previous Title
    • Previous Phone
    • Previous Gross Income
    • Time at Current Employer
    • Previous Employer
    • Previous Title
    • Previous Phone
    • Previous Gross Income
    • Time at Previous Employer
    • Previous Employer Address

The information contained in these sections is directly related to the submitted application. The system does allow you to edit the entries, and add information if necessary.

applications-applicant-info-edit

By selecting the “Edit” icon to the right of each section header. When selected, the section will open, allowing you to change / edit any information entered by the customer.

applications-applicant-info-edit2

When the desired entries / edits have been made, simply select the “Save Changes” icon to facilitate the changes.

Co-Applicant’s Info

The “Co-Applicant’s Info” section is identical to the “Applicant’s Info” with the exception that it is directed at the Co-Applicant rather than the Applicant. Of particular importance is your ability to add a co-applicant to an existing application.

applications-co-applicants-info

Once the “Add Co-Applicant” icon has been selected, simply enter the user information, and save the changes.

For further information concerning the fields available in this section, please see the “Applicant Info” section above.

Collateral & Trade-In

The “Collateral & Trade-In” section is dedicated to recording collateral information, and if applicable, trade-in information provided by the client.

applications-collateral-trade-in

The fields available in this section are designed for an automobile lenders, and as such, may not be suitable for other collateral types. The system strives to make it simple to record collateral information and offers several links to usable valuation sources in the upper right-hand side of the page. By selecting the “Upload Image” icon, you will be able to upload an image of collateral, which will also transfer to the loan if the application is accepted. By selecting the “Edit” icon, the fields will become accessible allowing you to update, edit, or add information.

The Trade-In section is used by applicants to log potential trade-in vehicles that need to be logged in the evaluation portion of the underwriting process. By selecting the “Trade-In” icon you will be redirected to the following page:

applications-trade-in

By entering a valid VIN number, the Make, Model, and Trim fields will autofill. Simply enter the necessary information into the remaining fields on the page and select the “Save Changes” icon to finalize the addition of a trade-in.

Insurance

In certain lending types, it is recommended (and in some cases required) to verify proof of insurance prior to funding a loan, making it an integral component of the underwriting process. To help streamline this process, AutoPal offers an insurance tab within each application.

applications-insurance

Located directly within this tab are provisions to record all information pertinent to an insurance policy. By selecting the “Edit” icon you will be redirected to a page allowing you to enter this information.

applications-insurance-edit

From this point you can enter the appropriate insurance information. It should be noted that any entries made in this section can be transferred directly to a new loan, through the “Loan Conversion” process.

Reference

Having good references is a vital part the underwriting process. In order to make this information easily accessible, AutoPal offers an entire reference section inside of each application. These references are submitted by the client during the underwriting process. You can review the references submitted by the applicant under the “Reference” tab within the application.

applications-references

You will see all existing references listed on this page, which includes the following information:

  • Name
  • Relationship
  • Address
  • Email
  • Phone
  • Secondary Phone

Located to the right of each reference are “Edit” and “Delete” icons that can be used to keep your reference list up to date. Additionally, located in the upper right hand corner of the page is a New Reference icon.

applications-references-new

Fill in the information requested on this page, and select the “Save Reference” icon to save the reference. Once saved, it will add to the reference list.

Documents

AutoPal offers a “Documents” tab where application specific documents can be uploaded and saved. Based on settings and configuration, it is possible to let your applicants see the items saved in this section, and if they have an applicant user created, upload their own documents.

applications-documents

Once the tab has been accessed, you will see a list of all documents that have been uploaded. The documents will be displayed and differentiated by the title of the file that was uploaded. Located in the upper right-hand corner are two icons: “Upload Multiple”, and “Upload Document”. You can use these to upload documents to the application.

  • Upload Multiple: 
    • Select this option if you would like to upload more than one document at a time in a batch. When selecting the icon, you will be redirected to the following page:
      applications-documents-upload-multiple
      By selecting the “Upload Documents” icon you will be able to select files from your local machine for upload.
      applications-documents-upload-multiple-save-documents
      Once the desired documents have been selected and added to the queue, select the “Save Documents” icon to add them to the application. The newly added documents will be added directly to the list, and will become viewable.
      applications-documents-document-list
  • Upload Document

    • Select this option if you are wanting to upload a single document. When selecting this icon, you will be greeted with the following screen:
      applications-documents-upload-document
      Simply select the “Choose File” icon to open your file manager, and select the file you would like to upload. Once located, select the “Upload” icon to save the document. Once uploaded, the document will appear in the list below.
  • Document Options
    • Located to the right of each document are a series of icons that can be selected:
      applications-documents-document-options
      Listed left to right they are used as follows:

      • Diskette: This icon is used to download and view the document
      • The red “X” is used to delete the document from the tab
      • The green “+” icon, is used to open the statistics concerning the document. This will include the date of upload, the user that uploaded the document, and the IP address that the user was logged in from.

Again, please be aware that when using this tab, the documents uploaded will be visible to the applicant through the end-user portal.

Notes

The notes section is generally used as a means to log information concerning the underwriting of a specific loan. The notes logged in this section can be made accessible to the client through settings and configuration of the end-user website. To access the notes, access an application, and select the “Notes” option from the left-hand column.

applications-notes

Located on this page you will see a list of all existing notes on a specific application, as well as a “New Note” icon located in the upper right-hand side of the page. To enter a new note select the icon, and you will be redirected to the following page:
applications-notes-new-note

Enter the desired note into the “note” field, and select the save Save Note icon to finalize the creation of the note. Once saved, the new note will appear in the note list.

Similar to the Documents section, there are a series of tools available to the right of each note. By selecting the red “X”, the note will be deleted, where the green “+” will expand the note statistics. Note statistics consist of the user that posted the note, the time & date, and the location (IP Address) it was posted from.

Custom Forms

The Custom Forms section is used to download and generate custom forms for your applicants. These documents are not the same as those saved inside the loan Custom Forms tool and is located in Applications > Settings > Custom Forms. Once custom forms have been added, you can generate them for individual applications.

applications-custom-forms-download

Once on this page, you can select which custom form you would like to generate by selecting the diskette icon to the right of each custom form. Additionally, you can give your applicant the ability to generate and print these documents through the applicant portal. In order to allow a client to download a document you must select the “Show” icon, as well as turn on their access and the tab through the Settings > Site Management > Access & Settings > Edit Application Access Settings. An example of this being useful would be a client downloading an Automatic Payment Withdrawal form, printing it, signing it, and re-uploading the signed form to the documents tab.

Lender Notes & Docs

The “Lender Notes & Docs” section is used to store documents and notes that you do not want viewable to your applicants.

applications-lender-notes-docs

To upload a new document to this section select the “Upload New Document” icon, and select the “Choose File” icon to open the file navigator, and once located, select “Upload” to save the document.

applications-lender-notes-docs-upload

Once uploaded, the documents will be viewable through this tab.

To upload a new note to this section, simply select the “New Note” icon to access the note entry page.

applications-lender-notes-docs-new-note

Enter the note you would like to save, and select the “Save Note” icon to finalize the creation of the note.

applications-lender-notes-saved-note

Stats

The stats tab gives you notes and history concerning the processing of the application. Anytime a change is made to the status of the application, it will be recorded here, as well as in the servicing user notes of the user that facilitated the change.

applications-stats

Please notice that you are also able to change the status of an application through this page if necessary. Additionally, you will also see the clients OFAC Compliance displayed on this page.

Checklist

In order to successfully underwrite an application, it is vital that no steps are skipped. Checklists are used to log the times and dates that specific actions are completed. By accessing this page within an application, you will be greeted with the following screen:

applications-checklist-inside-app

Simply select the checkboxes you would like to check off, and an automated time date stamp will post on the right-hand side of the page. Additionally, it should be noted that the items available in the checklist are fully customizable through the Applications > Settings > Checklist section.

Standards and Scoring

The “Standards and Scoring” tab is used to take values entered into the application, and compare them to the standards entered in the Applications > Settings tabs.

applications-standards-and-scoring

You will notice that all of the “Standards” saved on this page are pulled directly from the standards saved in the Settings section of the applications tab.

Compliance

The compliance page gives you a brief walkthrough of OFAC Compliance, and how to process an applicant.

applications-compliance

Simply read the instructions and walk through the steps to ensure that your applicants meet the requirements of OFAC Compliance. Additionally, after the OFAC test has occurred you will be able to review the results at the top of this page in bold text.

Applicant User

The “Applicant User” tab is used to assign an applicant user to an existing application if you elect to have this step skipped during the application submission. It is important to understand that applicants will not be able to access their application without having an applicant user created. The “Applicant User” either needs to be created by the customer prior to creating an application, or by a servicing user through this tab within the application.

applications-applicant-user

From this page you can either link an existing applicant, or create a new applicant by using the icons in the upper right hand corner of this page. If you choose to create a new applicant, the new applicant user will be saved to the “Applicant” section of the Users tab.

Related Articles

Leave A Comment?