HackMD
Lending Automator Portal - Experience
Release date: Feb 5 2024
Summary
Capturing client experience is a vital part of how qualified a person may be to secure funding. The more experience an applicant has, the better the lower the borrower risk. This results in lower cost to borrow. In order to make the process easy, we have a new status and redesigned experience review/entry module.
Registration and Login
Picking A Plan
Plans are annual
Setting your Company
In the Settings bar on the left hand side, click the Settings bar.
Set your URL
This URL uses the format of https://www.loanmanager.app/yourbrokername. You can customize the broker name to give your clients an easy URL to apply for loans
Logo
The logo enables you to customize Lending Automator with your logo branding to allow for your clients to easily recognize your application page.
Submitting a loan
Clicking "+ New Loan" will trigger an application that you can submit on behalf of your clients. Alternatively, your clients can fill out an application using the loanmanager.app custom link for your firm
Manage Individual Loans
Loans can be managed by brokers on both mobile or desktop. When logged into your broker dashboard, you'll see a full list of active loans. Click to expand an individual loan.
An applicant can upload documents from mobile or desktop as well.
Summary
Two-way Messaging
Managing Pipeline Status
Managing Tasks
Rate and Terms
You (the broker), have the ability to use the task system to provide your client with the rate and terms sheet in a fast and secure manner.
Viewing and accepting a rate quote for loan terms has gotten even easier and faster. When you provide you with a quote on a loan through the task upload, your client receive an email that a quote has been received. They can then log into the portal to view, approve or reject the quote.
Loan Status Breakdown
The statuses below break down the progress of the loan and the steps that follow.
| Loan Status | Description |
|---|---|
| Submitted | The initial loan application has been filled out |
| Conditional Approval | Your loan application has been pre-approved and quoted |
| Processing | Collection and of supporting loan documents |
| Underwriting | Review of supporting loan documents |
| Executive Committee Review | Internal review to approve the loan |
| Approved | All documentation evaluated and approved |
| Closed | Loan has been funded |
| Declined | Loan or guarantor did not meet the proper criteria |
Broker Task Upload
Brokers to upload documents to a task on behalf of an applicant
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Most tasks that are enabled for file upload such as purchase contract, bank statements, articles of incorporation
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To upload on behalf of an applicant, open the loan in your LSM portal, expand the task, and there will be a button to upload on behalf of your client.
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Items that the broker can upload on an applicant's behalf:
- Photo ID
- Bank Statements
- Purchase Contractor
- Articles of incorporation
- Operating Agreement
- By-Laws
- EIN Letter
- Certificate of Good Standing
- Foreign Entity Registration
- Closing Statement - HUD
- Copy of Lease
- And others
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Brokers are restricted from viewing/downloading files that contain confidential information
- W9
- Bank Statements
- Borrower Authorization Form
- Co-Guarantor Borrower auth
- ACH Form
- Bank Statements
- Tax Returns
Documents
Financials
The Financials tab is used for calculating the economics on a loan to determine the profibility of the loan, and whether it makes sense to continue with the deal.
Tasks
Audit History
All audit history can be viewed on a loan by clicking the audit history tab. It will contain a timestamp of all actions and actors that performed an action during the duration of hte loan.
✔️Video Overview
✔️Accessing the Portal
The security of your, or your client's, is the top priority at Lend Some Money (LSM). LSM takes advantage of Auth0 to add social authentication to the portal for each of use and security of your data.
Logging In
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Navigate to https://www.lendingautomator.com on your computer or mobile device.
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If this is a first time visit, you can click "First time Users" to view the help guide before registering.
NOTE: If you choose to use a social media channel for authentication/login, ensure that the email address registered under your social media account matches what was used for LSM. If your email does not match you will see a warning.
- If you forgot your password, you can reset it at any time by clicking on “Forgot password”. An email will be sent to you with the reset link.
- Once you log in, you’ll receive a text message with a 6-digit code to confirm your identity. This protects your account in case your password is compromised. You can choose to have Lend Some Money remember your device for 30 days so you won’t be prompted again. Logins on new devices will still require verification.
- Upon successful login, you’ll be brought to the dashboard where you can submit a new loan application and monitor existing loan applications.
✔️Applications
Viewing
- You can look-up applications by ID, by client, or by property address using the main landing page. Click to expand or collapse each loan item.
- The application(s) tied to a client are displayed below. If you are using a desktop they will display on the left side of the screen, if you are using a mobile device, depending on size, they may show directly below the "Your Clients" dropdown.
- Tasks associated with a selected application will be displayed. You can click/tap into a task to view additional information.
Submitting New Apps
The portal is configured to auto-fill a variety of data points in our application process; making app submission simple and fast. Simply click/tap on the "Submit A New Application" button. You'll see it show up in the portal a few seconds after submission and receive an email confirmation.
Approving the Loan
Once logged into the portal, the quote will be available on the loan listing underneath the quote tab. If you have multiple quotes, they'll be denoted by the date and time of the upload.
Once the quote is clicked, you'll be able to view/download the quote and discuss with your client. If they'd like to move forward with the loan and accept the terms, you can click accept. Clicking "Accept" will advance the loan forward into conditional approval.
A welcome email will be sent to your client with instructions to create a login for the portal. They'll have a similar view and will be able to submit their documentation directly.
Viewing Tasks
You can see real-time status on every task opened on a file. To view these just click/tap on the "View Tasks" button in the respective application.
Tasks
Each loan will have a series of tasks that are necessary to secure funding. These may range from answers to a questionnaire or uploading supporting documentation. The tasks will vary based on loan product and exit strategy.
| Task Status | Description |
|---|---|
| Assigned to Borrower | Borrower needs to take action |
| Awaiting Broker Action | Your broker is working on this task behind the scenes. There is no action required by the applicant. |
| Submitted | Feedback/document required on a task has been fulfilled by the applicant and is under review by your broker |
| Completed | The task was reviewed and accepted by the broker |
Please note that applicants are responsible for the completion of most tasks.
✔️Referral Link / Application Page
What is a referral link?
A referral link is a link to a custom webpage that is setup for your brokerage. This link, when used, ensures that applications submitted on that page are always tied back to your company.
Your referral link can be found in your Account page.
The link can be provided to a client directly, you can copy it and paste it into email or text it. Simply click/tap to copy:
NOTE: This link is most useful if you embed it directly onto your company's website. Embedding directly into your website allows you to provide a direct flow into the LSM application workflow, seamlessly, without taking customers away from your site.
Embedding the application into your existing webpage
This is done by embedding a script inside of a webpage (which you control). Using an iFrame, you'll be leverage your existing SEO and PPC momentum of your existing website and branding to easily submit loans through our automated system.
To embed is very simple. Just take the snippet that is provided in your Account page (cut/paste) into page on your website. Note: this HTML would need to be placed into the code of your site and not the text editor.
You can alter width and height to be whatever best fits your page. If using Wordpress, instructions for embedding on a page can be found at: https://kinsta.com/blog/wordpress-iframe/. If you need assistance getting an iframe embedded on your web site we'll be more than happy to help you.
✔️Notes (on Apps)
✔️Account Page
The Account page allows you to manage some basic information about yourself / company, etc…to edit information just click/tap the "Update Contact Information" button. Please note, the logo will retain the default image until you upload a new image file. You can set whether or not to show the company name, logo, and copyright (footer) on your LSM application referral page within this edit form as well.
✔️ Troubleshooting
Not getting emails from us?
Some spam blockers flag the keyword “lending” which may automatically move the email into your spam folder. Typically, marking the email as “not spam” will resolve this in the future, but if you still have problems, we recommend:
- Ensure the email you are checking is the email you had applied with on the initial application
- Checking your email rules to make sure there are no rules that will automatically move emails containing “Lending” to the Spam or Deleted folder.
- Add info@lendingautomator.com to your allow list to ensure proper delivery. An example of how to add in Gmail can be found below.
Adding lendingautomator.com to your approved list on Gmail
Step 1: Log in to your Gmail account.
Step 2: In Gmail, click the settings gear in the upper right
Step 3: Click on filters and Blocked addresses
Click 4: In the from field, enter in the “lendingautomator.com”
Step 5: Click Create filter, and choose the option: Never send to Spam.
Step 5: Click Create Filter. Your allow list has been updated to allow all emails from us in the future.
