Learn how to use a funding position to provide excellent customer service by manually generating advice documents (e.g. loan submission, formal approval, settlement, and ready to settle) to anticipate and answer client questions.
This article shows you how to manually create advice reports. Optionally, you can create workflows that automatically generate a report and email it to the client.
Contents
Prerequisites
Know how to create a funding position.
Video walkthrough
Learn about creating a client advice.
Creating a Loan Submission advice
To generate a loan submission advice report, the first step is to review funding position data and make sure the required fields are filled and the facts are accurate.
Open a deal.
Click the Funding tab.
Select the Regular mode.
Verify or update the required fields. (see below)
Click Save.
Verifying fields
Scroll down the centre window, and you'll see checkboxes next to some fields. These checkboxes (also known as checklist items) highlight fields you should fill in or confirm to generate a complete and accurate report. Checklist items apply to every split in the Funding Position.
Expand the Hide Account & Repayment Details folder and fill in the required fields. Optionally, add multiple accounts to the Offset Account field.
Carefully verify the data for each checkbox. Select GREEN for correct information or RED for incorrect information.
Generating a report
Go to the top of the page and click the Back to Activity View link. On the next page, click the Reports tab. Go to the Loan Submission Advice row. Click PDF or Word.
BrokerEngine generates a branded report (with details from the funding position) ready to share with the client.
Creating a Formal advice
This report helps the broker team ensure key deal details (e.g. loan amount, payment term, interest rate, etc.) have been reviewed and verified before the client completes a property purchase.
Open a deal.
Click the Funding tab.
Select the Formal mode.
Verify or update the highlighted fields.
Click Save.
Generating a report
Go to the top of the page and click the Back to Activity View link. On the next page, click the Reports tab. Go to the Formal Approval Advice row. Click PDF or Word.
Creating a Settlement advice
Complete this advice to confirm the loan approval issued by the lender matches the data in BrokerEngine. Add or verify bank and payment information in the funding position.
Open a deal.
Click the Funding tab.
Select the Settlement mode.
Verify or update the highlighted fields. (see below)
Click Save.
Verifying fields
Scroll down the centre window and verify the information in fields with green and red checkboxes. Expand the Hide Account & Repayment Details folder and fill in the required fields. Optionally, add multiple accounts to the Offset Account field.
To fill in some fields (e.g. bank accounts), click the Add link and complete the form in the popup.
Generating a report
Go to the top of the page and click the Back to Activity View link. On the next page, click the Reports tab. Go to the Settlement Advice row. Click PDF or Word.
Creating a Ready to Settle advice
Complete this advice to confirm the client has the funds to finalize a purchase or settlement. The report also specifies the bank accounts that will hold these funds.
The first step is to list the bank account(s) used to debit or credit the client's account (assuming the financial institution has this service).
Open a deal.
Click the Funding tab.
Expand the Hide Account & Repayment Details folder.
Click the Authority To Debit/Credit field.
Select one or more existing accounts, click the Add Authority to Debit/Credit link, and add new ones.
Confirm the information in other fields is correct.
Click Save.
Next, confirm the authority to debit.
Click the Lender Details tab.
Check the box next to Authority to Debit Available.
Click Save.
Generating a report
Go to the top of the page and click the Back to Activity View link. On the next page, click the Reports tab. Go to the Ready To Settle Advice (with Funding) row. Click PDF or Word.
If the financial institution cannot debit the client's account, that message and advice are in the report.
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