Product Releases July 2022

        As the modern loan origination system (LOS) on the market, it is imperative that we keep our platform updated to ensure that our clients are receiving efficient and informative upgrades to our system. This ensures your company stays competitive with the current demands of the market and allows your team to work efficiently.

This July 2022 some of our recent upgrade's features consist of:

• Loan Document Labels & Document Report: System administrators can now assign custom labels to loan documents. Once set up and saved, the labels will be available for immediate utilization by our users. The labels can also be reportable through our system reporting. Users can tag labels upon document upload, as well as un-tagging/retagging throughout the loan process to alert other users. 

Take a look at our knowledge base article for more information: Loan Document Labels (lendingpad.com)

• Preferred Print Forms: Users can now select a preferred preapproval form letter and Loan Estimate version that can be utilized with LendingPad’s quick-print options. This allows our users to have more control over the disclosures they send out to their clients. System administrators can always rely on our support team to assist in updating preferred formats through support@lendingpad.com.

• Reporting Fields: To better assist our users we have created additional reporting including Reserve Months, Asset Documentation Type and Income Documentation Type. Users will now have more reportable fields to enhance custom reporting.

• Limit Lender/ AE List: System administrators are now able to create a list of approved lenders and Account Executives, thereby limiting the options available to users for selection in a loan. This will ensure users are selecting the appropriate lenders and Account executives your company works with.

        For more information, refer to our knowledge base article: How to Set Approved Lenders   and Account Executives (lendingpad.com)

• Task Restrictions: Visibility on tasks is now restricted by those who have created or assigned the task, as well as system administrators and manager roles.

• Point-of-Sale Enhancements: Credit authorization and E-Consent are now part of the POS. This will allow borrowers to have the option of checking credit authorization and/or E-consent authorization. Your system administrator will have the ability to customize your default language for Borrower’s authorization and E-Consent Disclosure.

• Loan Program Options: System administrators can now set the Qualifying Payment Type to be Interest Only or Principal and Interest at the program level.

        But we’re not done yet, stay up to date on all feature updates through our blog and request a demo to see how LendingPad can improve your user experience.