Loan Status and Sub-Status

General

Using the Loan Status feature, you can organize your loans based on their position in the lending cycle. For example,  a loan that has been funded and is fully performing would likely have a status and sub-status of “Active – Current Loan.” There are Statuses and Sub-Statuses to accommodate most scenarios; the following options are available:

  • Underwriting
    • New Application
    • Information Needed
    • In-review
    • Approved
    • Countered
    • Declined
    • Funded
    • Terminated
  • Active
    • Current Loan
    • Repo Order Pending
    • Repo Hold Period
    • Chapter 13 BK
    • Chapter 7 BK
  • Paid Off
    • Traded In
    • Refinanced
    • Full Term
    • Early Payoff
    • Insurance/Total Loss
    • Purchased Back
  • Repossessed
    • Charge Off
    • Pending
    • Collection
    • Closed
    • Purchased Back
    • Write-Off
  • Collection Account
    • Bankruptcy Ch 13
    • Bankruptcy Ch 7
    • Charge Off
    • Write-Off

How-to

Loan Status and Sub-Status is controlled on a per loan basis in the Loan Settings section of a loan account.

 

Application

Loan Statuses and Sub-Statuses allow you to be organized and more effectively utilize many features of AutoPal. Here are some of the benefits of using Loan Statuses and Sub-Statuses:

  • The loan list results can be filtered, and its columns sorted. With more specific search results, you can more accurately target groups of your loans using the tools in the Data Options drop-down menu.
  • The Credit Reporting export file can be restricted to include only the Loan Statuses specified.
  • Recurring Charges application can be restricted by Loan Status.
  • The sending of Automated Emails can be restricted by Loan Status.
  • Automatic Late Fees can be restricted by Loan Status.
  • Report generation results can be filtered by Loan Status.

 

 

 

 

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