Many companies have the homeowner complete loan documents before making the sale to ensure the customer is eligible for credit. Loans in improveit 360 will allow your Reps to create a Loan record associated to the Quote, tracking finance rates and amounts. When resulting the Appointment as sold, if you are selecting the Quote to which the Loan is attached, the Loan will become associated with the newly created Sale record.
On the Quote page, in the Loans related list, click the New button
Fill in the appropriate fields for the Loan and save the Loan record.
Viewing a Quote with a Loan
On the Quote page, in the Loans related list, simply hover over the Loan record and a popup will appear with more information about the Loan record. You can click on the Loan to see all the details or make changes to this Loan record.
Resulting as Sold transfers the Loan to a Sale
During the Resulting Flow, if you are selecting a Quote record as Sold and it has a Loan attached, the Loan record will be associated with the newly created Sale when you click Create Sale.
Note the Quote Items from the Quote that was selecting in the Resulting Flow are now represented on the Sale as Sale Items, and the Loan attached to the Quote has also been associated with the newly created Sale.
Adding a Loan to a Sale
If the customer didn't fill out the loan documents prior to the Sale, not to worry! You can collect Loan information after the customer has committed to the purchase.
On the Sale page, in the Loans related list, click the New button.
Enter the Loan information and then click Save. If the homeowner is borrowing from more than one Lender, you can use Save & New to create another Loan record related to this Sale.
Working with Loan List Views
Your company may want to track Expiration Dates and notify a Contact if their loan offer is expiring from the Lender but they haven't yet made a commitment on a purchase.
Your System Administrator will want to become comfortable with creating List Views for your entire organization. In this example, we will create a List View on the Loan object to identify records that the Loan has been Approved, has not past the Expiration Date and does not have an associated Sale record. These qualifications are also called Field Filter Criteria. Each List View will need you to set the appropriate Criteria for records you want to see in the list.
First, on the Loan tab, click the gear icon and then click New
Name the new List, Approved Expiring Loans without Sales,
make the list visible to All users, and Save
Adjust the first filter from My loans to All loans and click Done
Then click Add Filter
Choose the Expiration Date field is 'greater than' and type in "TODAY"
Click Done, then click Add Filter to add your next criteria.
Choose the Status field 'equals' and select Approved from the picklist values
Click Done, then click Add Filter to add the last set of criteria
Choose the Sale field 'equals' and leave this blank (null value), this means the Loan is not yet related to a Sale and the Quote attached to this Loan has not yet been Sold.
Once you have set the desired Filter Criteria, be sure to click the blue Save button.
Next, you'll want to add the Fields from the Loan records to be displayed in this List View.
Click the gear icon to make changes to the list, and choose Select Fields to Display
Find the following fields and move them into the Visible Fields column:
- Loan Name (should default to being visible in the list view)
- Borrower
- Quote
- Expiration Date
- Type
- Approved Loan Amount
Click Save when finished.
Refresh the List View to see the Loan records which meet the criteria.
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