Copy/Duplicate the Loan File or Create a New Loan File for Existing Borrower

Handling loan files effectively is crucial for maintaining an organized and efficient lending process. LendingWise offers multiple options for creating or duplicating loan files for existing borrowers, so the documents and data you need carry over. This article will walk through these methods to help users manage borrower files with ease.

Duplicating Existing Loan Files:

1. Accessing the Loan File:

   • Go to Loan Origination > Pipeline - Main and find the loan file you want to copy.

2. Copying the Loan File:

   • Click the green folder icon on the file's row to open the More Actions panel, then click the copy icon ("Click to copy this file"). Or open the loan file and, in the menu on the left under TOOLS, click Copies > Copy This File.
     

1. • Choose WITH DOCS to bring over the uploaded required documents, WITHOUT DOCS to leave them out, or CANCEL.
     
   • The copy opens in the same tab, with "(copy)" added to the borrower's First Name. Users without Manager permissions don't get TOOLS > Copies, even with "Allow to Copy file?" on.

2. Editing the Copied File:

   • Enter the duplicated file to modify or delete old documents and update details relative to the new loan.

Creating a New Loan File from Borrower’s Contact:

1. Navigating to Borrower List:

   • Go to CRM > Borrowers > Borrower List, find the borrower, and click the Create New File icon in the Actions column.

2. Importing Borrower Information:

   • Once selected, you will be prompted to import basic information from the existing borrower profile.

Alternative Method: Start From the Borrower's Email

You can also start a new application from a returning borrower's email and have their saved information import into the form.

1. In the back office (staff): Open the Quick App or Full App and type the borrower's email. If it matches an existing borrower, you're asked whether to import their basic information. Choose YES to import, or NO to clear the email box (this keeps a new borrower from reusing someone else's email).

2. On your public webforms (borrowers): When a returning borrower enters a matching email, a verification panel opens to confirm it's really them. They choose to get a one-time code by email or text (if a mobile number is on file), then enter the code to verify. Once verified, their saved information imports into the application.

Returning borrowers on your webforms

When a returning borrower fills out one of your Quick App or Full App webforms and verifies with the one-time code, LendingWise pulls their stored details into the form so they don't start from scratch. Depending on which fields your webform shows, this can include their contact information, borrower background, real estate experience, assets, and entity information.

When they submit, the new loan file is created under their existing borrower profile (no duplicate borrower is added), and the profile is kept up to date with what they entered.

LendingWise gives you several ways for managing loan files for existing borrowers. Whether duplicating detailed files or creating streamlined new entries from minimal data, the platform caters to diverse operational needs. This article aims to simplify these processes, so users can adapt quickly and focus on providing top-tier lending services.

For a visual guide, refer to our tutorial video above, or the step-by-step walkthrough guide below. For any additional assistance, feel free to contact the LendingWise support team at helpdesk@lendingwise.com