What are Products
Products are our version of loan templates. Customizing these templates can help you tailor your experience to your unique needs.
Add a Product
By adjusting loan fields, document placeholders, charges, collateral fields, and loan settings, you can create a personalized loan product that works for you.
To add a product, follow these steps:
Go to the product section
Click "+ Add Product"
Type a name for your product
Select the applicable Use of Funds
Select the type of loan
Set the Default Lender of Record for this product
Activate or Deactivate the Sharing (Learn more about Sharing products)
Edit a Product
⚠️ Editing a product will not retroactively apply to active loans.
Edits will only apply to loans assigned to the product after your changes have been applied made.
To Edit a product, follow these steps:
Click on the ellipsis on the product to modify.
Click Edit.
Product Setup
💡 Remember to click the "Save" button after making changes to ensure that they are saved before using the product.
Product Settings
Tailor your product name and establish parameters for quotes to run on. The key settings are:
Name
Custom name for your product. Visible to borrowers based on your settings.
Use of Funds
Select the options for the sizer and Quotes module, instructing the system to run the sizer for any chosen options.
Loan
Only one can be selected.
Select the option for the sizer and Quotes module, instructing the system to run the sizer for the chosen.
Lender of Record
Choose who is the default lender of record for this product.
Learn how to Set Up a Lender of Record
Sharing
Choose to share this product with your affiliated business and brokers
Sizer
Upload, Download or Reset your sizer for this product.
Fields and Charges
The fields are categorized under the same headers as in a loan card to make setting up your loan product easier.
Example: The loan amount is under Terms for both the Loan Card and the Product.
In the product, fields are shown under the same headers and subheaders.
Turn On/Off Fields and Charges
You can enable or disable fields and charges within a loan product by toggling the On/Off switch.
Click the toggle On/Off to enable/disable fields in a loan product.
The system required fields such as Loan Amount and Rate cannot be disabled.
Set Default Values
Set default values for product fields and charges.
Every new loan created with the product will have these values, which can be edited inside the loan.
Add Custom Fields or Charge
You can add any custom field or charge you need in the system.
Go to the desired section
Click "+ Add field"
Select the type of field
Add a description
Save
👉 It is possible to set default values for custom fields.
Documents
Similar to fields and charges, you have the option to enable/disable, and add custom documents.
In addition to the previous functionality, you can add and manage checklists for each custom document.
ℹ️ Documents added to the Borrower and Guarantor will be stored in their profiles.
📢 These documents will be automatically associated with any new loans created for them when the document is also included in the new loan's product.
Document Checklists
Checklists are useful tools to keep track of tasks and items that need to be checked on a document.
To create a checklist for a document, follow these simple steps:
Create a new document or edit an existing one.
Type in the checklist elements.
You can learn more about checklist syntax here.Save the document.
Save the product.
The checklist will be visible on all loans where the document appears inside the document details under the Checklist section.
Loan Settings
You have the ability to predefine loan settings for each product, allowing for automatic application of these settings to all new loans created using the product.
Delete a Product
To delete a product, follow these steps:
Click on the ellipsis on the product to modify.
Click Delete.
Confirm that you want to delete the product.
A product cannot be deleted if any loans are associated with it.
For more information, contact Baseline at
[email protected]
