Skip to main content

Sold Loans

Marking a loan as sold in Baseline is easy and efficient. This guide provides clear steps to help you complete this task successfully.

Steps to Mark a Loan as Sold

Loans can be marked as sold either from the Pipeline view or directly from Loans within the loan details page during servicing. Here's how:

  1. Navigate to the Loan

    • Access the Pipeline or the Loans section.

    • Select the loan you wish to mark as sold by clicking on it.

  2. Access the Action Menu

    • In the upper section of the loan details page, locate the action menu indicated by three dots (...).

    • Click the three dots to open the dropdown menu.
      ​

  3. Select "Mark as Sold"

    • From the dropdown menu, select the "Mark as Sold" option (usually the second option of the actions).

  4. Provide Sale Details

    • A pop-up window will appear. Fill in the following details:

      • Sale Date: Specify the date when the loan was sold.

      • Realized Gains/Losses: Record the total amount received for the loan to capture financial outcomes.

      • Sold To: Select the entity (investor or vendor) to whom the loan was sold from the available options.

      • Notes: Optionally, you can add any notes for reference, such as portfolio identification or additional context.
        ​

  5. Confirm the Sale

    • After entering the details, confirm the action by clicking "Mark as Sold".


Outcome

  • The loan's status changes to "Sold".

  • The loan is removed from active servicing and added to the Sold Loans Report.
    ​


Viewing Sold Loans

  • Navigate to the Reports section.

  • Access the Sold Loans Report to view all loans marked as sold, including details such as sale dates, amounts, and buyers.
    ​


Editing Sold Loan Details

If you need to update the sale details:

  1. Go to the Sold Loans Report.

  2. Locate the loan in question and click on it.

  3. Use the Edit option to adjust:

    • Sale Date

    • Sale Amount

    • Buyer/Vendor

    • Associated notes.
      ​
      ​


Reversing a Sale

If a loan was marked as sold in error or requires further servicing:

  1. Access the loan details.

  2. Use the action menu to revert its status:

    • To return the loan to servicing:
      ​Access the Action Menu

      • In the upper section of the loan details page, locate the action menu indicated by three dots (...).

      • Click the three dots to open the dropdown menu.

      • Select Move to Servicing
        ​

    • Change the status into a pipeline status:

      • Navigate to the Loan,

      • Click the Status Sold to select the stage in the pipeline to send the loan.


      ​

Did this answer your question?