This article explains how brokers can mark a loan as discharged in BrokerEngine. Setting this status confirms the loan has been fully settled and is no longer active. It also keeps your records accurate and removes the loan from active reports.
Contents
Prerequisites
Know how to create a funding position.
Opening the Deals page
The first step is to open the client's deal page. Here's one easy way to access that information.
Go to the left-hand menu and click the Contacts icon. Scroll through the list of names, locate the deal contact, and click Edit.
Go to the tabs on the left side of the page and click DEALS. Scroll down to the LOAN DETAILS headings. Locate the loan you want to discharge in the table and then drag the scroll bar to the right.
Click the Active button and select Discharged in the drop-down.
A pop-up displays. Click the fields to set the discharge date and reason. Then click Save.
BrokerEngine removes that loan from the table. To view a list of discharged loans, go to the SELECT DEALS heading and click the Active toggle. The table displays the client's discharged loans.
Reversing a discharge
It's possible to switch a loan's status from Discharged to Active, but you need to open a different page.
Open the client's deal in full view mode. Go to the side menu and select Strategy > Funding Position.
If you're on the client's Contacts > Deals page, you can quickly access the funding position. Click the client's name in the Discharged table and, on the new page, click Strategy > Funding Position.
Scroll down the funding position page to the Loan Splits section. Click the Discharged filter on the right side of the page, and then go to a loan split. Click the Discharged field and select Active in the drop-down. When complete, click Save.
If the loan has multiple splits, repeat the steps for each split.
