Boarding & Fulfillment

With the fulfillment process in LoanVantage focusing on finalizing the agreement and preparing the essential data for the core system, you can use the Doc Prep and E-Sign capabilities to wrap up your origination work.

How it Works

Doc Prep

The built-in Doc Prep functionality allows you to add doc prep configuration information for an integration with TruStage™ Compliance Solutions or create a file export for LaserPro clients.

The following permissions are needed to access TruStage Doc Prep functionality:

• Administrator: Provides a secure online application and document submission process for consumer and commercial loans.
  • Administrator: Gives admin users access to the Integrations > Doc Prep page.
  • AdminTransformations: Gives admin users access to the Integrations > Transformations page.
• User: The LoanVantage API allows the transfer of application and documentation information collected by third party CRM applications into LoanVantage.
  • Doc Prep: Gives users access to the Doc Prep page.
  • DocPrepDebugView: Lets users debug in run time.
  • DocPrepSession: Gives users access to the Doc Prep Session page.
• Financial Institution Fields for Doc Prep:
  • You must complete LoanVantage fields about the financial institution to render the information in TruStage™ Compliance Solutions documents.

E-Signature

E-Signature, or eSign, is used with prerequisite conditions or reporting requirements to upload documents within a file to send for an electronic signature on behalf of a client. Offering this capability requires a separate contract to integrate with an eSign third-party provider - Synergy eSign or DocuSign. The eSign functionality varies by third-party vendor:

Fees, Closing, and Disbursements

The Fees/Closing menu is used to identify the fees associated with the facility and indicate closing terms. A read-only section at the top of the page shows the Loan Amount, Principal Financed, Payment Type, Payment Frequency, Term, Amortization, Interest Rate, and Payment Amount.

Financial institution employees can Recalculate the payment directly from the Fees/Closing page by selecting Edit and then Recalc Payment.

Your institution’s customized fees are initially populated during implementation. Your users can access the fees on the facility details page of a loan request, on presentation reports, and the Boarding Data Sheet. Functionality within the Fees/Closing menu includes:

• Displaying Fees: If you want to view updated fee amounts on the Fees/Closing page, select Regenerate Fees.
• Editing Recurring and Up Front Fees: Users can view and edit recurring and up front fee information.
• Editing Closing Fees
• Entering Interest and Escrow: The Interest/Escrow section of the Fees/Closing page includes Odd Days Interest, Prepaid Tax Escrow, and Prepaid Restricted Escrow calculations.
• Disbursements: The Disbursements section of the Fees/Closing page includes the Credits and Funds Disbursed at Closing sections.
• Editing Funds Disbursed at Closing: Fees entered are factored in the disbursement calculations at the bottom of the page in the Funds Disbursed at Closing section.
• Viewing the Fee Override Policy Exception: When a fee has a policy exception required when the fee amount is changed, a policy exception automatically generates.
• Fee Reports: Print Recurring and Upfront Fees and Closing Fees and Disbursements reports from the Reports menu in the toolbar.
• Amortization: Users can generate a PDF of the amortization schedule.

Reports

Loan Details Report: Users can print a Loan Details Report from the Facility page, which contains the final facility-level data needed for core boarding.

Core Boarding Optional Module

Helpful for banks and credit unions manually boarding loans today, our optional Core Boarding module can save time and reduce a portion of your manual entry. Offered as an alternative to collaboration with third-party solution providers, the Core Boarding for LoanVantage module offers a streamlined implementation process that lets you get going in just weeks for all Jack Henry foundational core systems: SilverLake®, Symitar®, CIF 20/20®, or CoreDirector®

Most features and functionality works the same way for all four Jack Henry core systems, but there are a few differences in what data fields are supported.

Related

• Applications
• Back Office & Maintenance
• Compliance Management