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Creating Different Application Versions for Loan Programs

LendingWise makes it easy to manage multiple loan programs or products by allowing you to create customized application versions for each one. This ensures that every loan application process is tailored to the specific requirements of your loan products, improving efficiency and compliance.

Why Create Different Application Versions?

 

Different loan programs often require unique information, documents, and workflows. By creating separate application versions, you can:
  • Collect only the relevant data for each loan type.
  • Streamline the borrower experience.
  • Ensure compliance with investor or regulatory guidelines.
  • Automate workflows and document collection based on program requirements.

 

How to Customize Applications for Each Loan Program

 

LendingWise provides two main types of online applications:
  • Quick App: A streamlined form for initial borrower information.
  • Full App: A comprehensive application for detailed loan processing.

 

You can customize both forms for each loan program using the Form Field Controller.

 

Using the Form Field Controller

The Form Field Controller is your central tool for editing the fields and logic in both the Quick App and Full App. Here’s how you can use it:

 

  1. Access the Form Field Controller:
    • Navigate to your LendingWise admin dashboard.
    • Go to the “Settings” or “Loan Programs” section.
    • Select the loan program or product you want to customize.
  2. Edit the Quick App or Full App:
    • Open the Form Field Controller for the selected loan program.
    • Add, remove, or reorder fields as needed.
    • Set field properties, such as required/optional, field type, and default values.
    • Use conditional logic to show or hide fields based on borrower responses or loan parameters.
  3. Save and Test:
    • Save your changes.
    • Preview the application to ensure the correct fields appear for the selected loan program.
    • Test the workflow to confirm that required documents and tasks are triggered as expected.

 

Additional Customization Options

 

  • Custom Loan Programs: Create entirely new loan programs with unique guidelines, fields, and workflows.
  • Automated Workflows: Set up milestones and automated tasks/emails based on loan program, transaction type, property type, and more.
  • Smart Document Collection: Configure required documents for each loan program, ensuring borrowers upload only what’s needed.

 

Best Practices

 

  • Regularly review and update your application forms to match changing program requirements.
  • Use clear field labels and help text to guide borrowers.
  • Test each application version before making it live.

 

With LendingWise, you can efficiently manage multiple loan programs by creating and customizing different application versions. The Form Field Controller gives you full control over the Quick App and Full App, allowing you to tailor the borrower experience and streamline your internal processes.

 

If you need further assistance, please contact LendingWise support at helpdesk@lendingwise.com.