Documents & Reports

LoanVantage offers support for a variety of document and reporting needs.

How it Works

Presentation Reports

The Presentation Reports component of LoanVantage is the system’s primary tool for compiling and generating the final, formal loan package required for committee review and approval. It acts as a customized reporting engine that allows users to select, organize, and format various financial analyses, compliance documents, narratives, and other sub-reports into a single, cohesive document. This ensures all relevant data gathered throughout the underwriting and decisioning process—from risk ratings and financial ratios to policy exceptions and narratives—is systematically presented to meet your institution’s internal credit approval standards.

Key features include:

• Narrative Integration: Allows for the inclusion of narratives (written analysis) created either through the built-in HTML editor or the Microsoft Word add-in.
  • The Word Add-In allows real-time insertion of live data elements, such as mini-financials and collateral summaries, into the narrative document.
• Subreport Inclusion: A single presentation report can consist of several different customizable subreports to cover various topics.
• Data Driven Content: The report automatically pulls and displays the most current and relevant data from the file, such as:
  • Exposure Calculations
  • Declarations Questions and Answers
  • Rate Lock Log Details
  • Underwriting Ratios and Risk Rating results
  • Monitoring Items (Policy Exceptions, Required Docs, Covenants)
• Versioning and History: Generated reports can be saved (Save and Replace or Save and Add), allowing users to maintain a history of the final documents used for decisioning.
• Mass Printing Capability: A powerful feature within the work queue that allows for the simultaneous printing of multiple existing presentation reports as a single PDF using the On File Presentation Report.

Document Management

LoanVantage features an embedded document solution that generates all necessary application and closing documents without requiring a user to leave the platform. This helps standardize the fulfillment process and ensures data consistency across all documents.

Track and manage document statuses efficiently using the Required Document Status (RequiredDocStatus) and Required Recurring Document Status (RequiredRecurringDocStatus) pick lists.

The Reporting Requirements component, also referred to as Recurring Documents or ticklers in LoanVantage, is the core mechanism for the proactive and ongoing monitoring of documentation required throughout the life of a loan. Unlike one-time prerequisite conditions, reporting requirements are defined with a frequency (e.g., annually, quarterly) and automatically generate future tickler records to ensure continuous compliance. This system tracks documents needed to support credit decisions or measure covenants, enables communication with the client regarding missing items, and provides LoanVantage users with a clear workflow for verifying received documentation.

Key reporting requirements features include:

• Recurring Document Ticklers: Manages documents needed on an ongoing frequency basis (e.g., monthly, quarterly, annually) to support the life of the loan.
• Auto-Creation of Future Records: Based on the defined frequency, the system automatically creates the next required document record once the current one is satisfied, ensuring perpetual monitoring.
• Grace Days for Due Date Calculation: The due date is automatically calculated by adding a specified number of Grace Days to the document’s Statement Date, allowing time for the client to submit documents.
• Linkage to Covenants: Documents can be linked to covenants to track that the necessary financial statements or other records have been received before measuring the covenant’s performance.
• Online Portal Submission Review: Clients can use the Online Portal to upload requested documents securely, which are then routed to LoanVantage work queues for a user to officially Accept or Decline.
• Document Verification Workflow: LoanVantage users review uploaded documents via a dedicated work page, where accepting the document updates the status from Received to Received - Verified.
• Automated Spread Period Creation: If the document is a Tax Return and the status is updated to Received and Verified, the system can automatically create the corresponding tax return spread period in the party’s file.
• Work Queue Visibility: Overdue or recently received documents appear in dedicated Work Queues (e.g., Recurring Docs Received - Not Verified), often indicated by a calculation of Days Late.

Covenants

The Covenants component in LoanVantage is a dedicated risk management tool designed to track, monitor, and measure formal debt agreements. It allows lenders to define and associate specific financial and non-financial conditions (covenants) to an entity or account. Covenants, which often involve maintaining specific financial ratios, are continuously tracked through scheduled measurements. The system automates the process by linking to required documentation and financial spread data for evaluation and includes workflows to handle decisions such as granting due date extensions or one-time waivers via Service Requests. This ensures proactive and documented oversight of borrower compliance throughout the life of the loan.

Key features of the Covenants module include:

• Definition and Linkage: Covenants can be defined and attached to a Party, Account, or Collateral.
• Measurement Tracking: Supports the ongoing measurement and tracking of covenants, with past measurements appearing in a history section.
  • Measurement Source Options: Measurements can be sourced manually, via an uploaded Certificate (document), or automatically using LoanVantage Spreads (financial data).
  • Financial Ratio Compliance: Requires a financial ratio linkage set up in Administration to properly display and check compliance with the covenant’s required value.
• Integration with Required Documents: Covenants can be explicitly linked to Required Documents (Reporting Requirements) to ensure the necessary records, like financial statements, are received before the covenant is measured.
• Automated Creation and Scheduling: The Auto Create Next Measurement feature automatically creates future covenant records based on a defined Frequency.
• Grace Days: Allows the system to automatically determine the Due Date for the measurement by adding a specified number of grace days to the Statement Date.
• Service Request Integration: LoanVantage uses the Service Request file type to formally process and document decisions related to covenants, such as approving Due Date Extensions or One-Time Waivers.
• Correspondence and History: Users can record all correspondence, like email, letters, or phone calls, related to the covenant under the Communications tab.
• Reporting: Various reports (e.g., DocTrackCovenants) are available to display all covenants, their last measurement dates, and compliance statuses.

Prerequisite Documents

The Prerequisite Documents component manages the initial, generally one-time documentation required to proceed toward closing and funding a loan. It functions as a critical control point in the loan request process, specifically tied to a facility, where required documents must be identified and satisfied before moving forward.

By integrating configurable business rules, the system can automatically display prerequisite conditions based on transaction details (e.g., collateral type or party role). This ensures that all necessary initial closing requirements are explicitly tracked, reviewed, and finalized for compliance and due diligence before funds are disbursed.

Key features of Prerequisite Documents include:

• One-Time Requirement: Documents typically needed only prior to closing and for funding a loan.
• Facility-Specific Scope: Prerequisite Conditions are found only at the facility level of a loan request or WAM file, as they are meant to coincide with a specific loan action.
• Business Rule Automation: Business rules can be configured in Administration so that prerequisites automatically appear in the list when their associated conditions evaluate as true (e.g., if a specific type of collateral is present).
• Re-evaluation Functionality: Users can manually Re-evaluate the list of requirements, which refreshes the conditions when important file data changes, such as adding or updating borrowers, or adding additional facility or collateral.
• Online Portal Submission: Documents can be submitted by clients using the Online Portal, and the system tracks them until a LoanVantage user reviews and finalizes the document status.
• Status Tracking and Verification: Users can track the status of documents and update the status in a workflow that often moves through stages like Received to Received - Verified.
• Inclusion in Reports: An Inc in Report check box allows users to select which prerequisite conditions should be displayed on specific Presentation Reports.

Related

• Applications
• Back Office & Maintenance
• Boarding & Fulfillment