Overview
The loan pipeline is where you will manage all of your borrowers, including reviewing application and document data, making adjustments to the loan flow, and locating any additional information regarding the loan.
If you have an existing XML file available already for your borrower, you have the option to import this data to create a brand new prospect or create a brand new loan flow.
How to Use
Importing an XML file for a New Prospect
When a borrower applies via your landing page, all incoming applications show up in your Prospects tab for you to review. Any incomplete applications will be visible here, and depending on your settings, you may also have completed applications available for your review to proceed.
Among these options, you will have the option to add a new prospect by importing an XML File. When creating the new prospect, if not delayed, an email will be prompted inviting the borrower to fill out your application within Floify. You will also immediately have the option to begin editing the borrower's application and agree to the credit check on their behalf.
If your borrower's application is completed as the XML File, it is recommended to use the 'Delay Borrower Access' option when creating the prospect. Once the prospect is created, use the 'Convert to live loan flow' option to push to your active loan pipeline.
From your loan pipeline, navigate to the Prospects tab:
Select the Add New Prospect button to begin creating a new prospect:
Select the Browse option to browse for the XML File on your computer:
Select the file from your computer and choose to Open , which fills in the borrower data. Review the borrower's information to make sure it is correct. You will also have the option here to Delay Borrower Loan Application Access. Select Save Prospect to create the record:
A new prospect loan application is then added to the Prospects list. The application can be edited using the Edit Loan Application icon (pencil/paper towards the right-hand side of the borrower's name):
The borrower will automatically receive an invitation with a link to begin applying:
If the delay borrower access is enabled, you will have the option to invite the borrower to the application directly from the Prospects tab with the clock icon towards the right-hand side of the borrower's name:
A manually created prospect can be converted to a live loan flow at any time by using the Convert to Live Loan Flow button.
Importing an XML file for a New Loan Flow
The loan pipeline is where you will manage all of your borrowers, including reviewing application and document data, making adjustments to the loan flow, and locating any additional information regarding the loan.
Among these options, you will have the option to start a new loan flow by importing an XML file.
When you’re ready to start requesting documents from borrowers, automating their status updates, and keeping your partners in the loop, it’s time to start a new loan flow. This will manually create a record for your borrower without prompting them to complete a loan application first.
From your team pipeline, click the blue Start New Loan Flow button:
Select the Browse option to browse for the XML File on your computer. Select the file from your computer and choose to Open:
The system will pre-fill the Start New Loan Flow page with borrower information. Please give this a quick look to make sure everything is correct. If the borrower's email is already registered in Floify, please select 'Yes, use this account'. This will occur if the borrower is a repeat client or if they've used Floify with a different Lender. If you would like to use a different email for the borrower, select 'No enter a different email address' and proceed as normal:
You can also invite a realtor or partner to the loan flow if you need. Adding a realtor or partner to the loan will allow them to follow along in the loan flow process by receiving milestone notifications and by giving them limited access to the borrower portal. Select the box to the left of their name to provide this access:
You can also give them permission to generate a pre-approval letter on your behalf by checking the box in the Makes Letters column:
The section below will allow you to prepare your pre-approval letter if you'd like. This is where you are setting the parameters for the specific borrower including maximum sales price, max seller paid costs, and down payment limits:
You will have two sections to add in document requests. Choose a Quick Pack for Borrower allows you to select from a quick pack for your predetermined needs list items. You can also choose from your full collection of template documents by navigating to the All tab:
The One-Off Document Requests section allows you to add something that is not in your list of template documents, more uncommon, or just specific to the borrower themselves. Select the plus sign icon to the right to manually enter all the details for the document request yourself:
Once everything is filled out and ready to go, you'll select the Start New Loan Flow button at the bottom of the page to create the file for the borrower. This will trigger your initial 'Needs List' email and your borrower can start uploading documents right away!
The loan flow will now show up in your active loan pipeline. The XML that was imported for this flow comes through in the borrower's Docs Owed.
If you would like to force this document to the Docs Pending/Docs Accepted, you have the option to edit the 1003, navigate to the last page of the application and select the option to Complete the 1003, which will force the 1003 to the Docs Pending Review:
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