What are Products
Products are loan templates. Configuring these templates to match the loan structures that you offer will allow you to more effectively capture and keep track of the data that is most important to you.
Add a Product
By customizing loan fields, document placeholders (also known as document slots), charges, collateral fields, and loan settings, you can create a personalized loan structure that is tailored to your loan programs.
To add a product, follow these steps:
Click on your company name in the top of the left-hand navigation menu
Click Products
Click Add Product
Name your new Product
Select the applicable Use of Funds
Select a Loan Type
Assign a Lender of Record to the Product
Activate or Deactivate Sharing (Learn more about Sharing products)
Edit a Product
⚠️ Editing a product does not retroactively apply to active loans ⚠️
Edits made to a Product will only apply to loans that are assigned the product after your the changes are saved.
To Edit a product, follow these steps:
Click the ellipsis ("...") on the Product card
Click Edit
Product Setup
⚠️ Click Save after applying changes to ensure that your edits are preserved ⚠️
Product Elements
Tailor your product name and establish parameters for quotes to run on.
Name
Custom name for your product. Visible to borrowers based on your settings.
Use of Funds & Loan
The Use of Funds and Loan (Type) that you select will determine which sizer will run within the Quotes module.
Multiple Use of Funds can be selected; only one Loan Type can be selected.
Lender of Record
Choose who is the default Lender of Record for this product.
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 grouped under the same loan tabs and section headers in the Product editor as they are in a Loan with the Product applied.
Example: The Loan Amount field is located within the Terms section of the General tab in both the Product editor and any loan with the Product assigned.
a) In a loan:
b) In the Product editor:
Turn On/Off Fields and Charges
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.
Setting Default Values
Set default values for product fields and charges so that they automatically populate when the Product is assigned to a Loan.
Default values can be overridden on the loan-level if need
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 the ellipsis ("...") on the product card
Click Delete.
Click Delete again in the confirmation popup.
A product cannot be deleted if any loans are associated with it.
For more information, contact Baseline at
[email protected]
