Jackson Stone
jackson.stone@loanpro.io
jackson.stone@loanpro.io
In LoanPro, collateral items are saved to individual loans, and a single loan can have multiple collateral items. Each collateral item has a type, corresponding to the four types of loans in LoanPro: Auto, Consumer, Real Estate, and Other. This article will explain how to set up collateral fields, configure collateral tracking information, and track
Within the card manager, you'll see a list of all the cards you've issued. On the left, there are options to filter your results by type, program, status, and available balance. Each individual card shows the following: the card's UUID the customer it's linked to the card's title the program it was created from its available balance the type (credit
In addition to our legacy customer-facing website, LoanPro also offers a customer portal. The customer portal is a seamless, out-of-the-box tool that allows borrowers to view their data and self-service their accounts. It’s integrated with LMS and Secure Payments, giving customers real-time access to statements, payments, documents, and other import
Your tenant-level account settings affect your operations across the board. This article will cover both your company profile settings (including things like your timezone and date format) as well as the tenant-level settings that affect all of your loans, customers, and other features. Company profile settings Company Settings are used to set basic
The context engine is a large database of retrievable variables, available for use throughout LoanPro software. Because this variable includes multiple elements (there is usually more than one unfulfilled promise logged on an account), this variable will usually need to be used in a loop. For information on how to select single values out of an arra
The context engine is a large database of retrievable variables, available for use throughout LoanPro software. TIL Forecasted Payments - Because this variable includes multiple elements (there is generally more than one forecasted payment in the TIL disclosure on an account), this variable will usually need to be used in a loop. For information on
Although the Payday Lending Rule’s legal standing was in question for a time, the Supreme Court’s ruling in CFPB v. CFSA decided that the CFPB’s funding was constitutional and this law is slated to go into effect on March 30, 2025. The Consumer Financial Protection Bureau's (CFPB) new Payday Lending Rule regulates how credit providers handle small
The import tool lets you add, update, or delete information in bulk by uploading a specially-formatted .csv file. These files are spreadsheets and can be edited with software like Excel, Google Sheets, SPSS, or OpenOffice Calc. If you don't have any of these, we recommend you download OpenOffice for free. It's important that the .csv files are forma
For more information on what each individual setting means, see the loan settings article. The context engine is a large database of retrievable variables, available for use throughout LoanPro software. These are the following variables for settings: Name Variable Description Follow Up Date [[companyFormatDateTime('settings-followup-date')]] The f
The context engine is a large database of retrievable variables, available for use throughout LoanPro software. These are the variables for custom fields: Name Example Variable Description Bankruptcy Custom Fields [[v('bankruptcy-custom-fields-array.id{ID}.value')]] This variable pulls the value from a custom field on an active bankruptcy. Replace {
These pages show how your company is billed for using LoanPro. They're divided into two groups, Contract & Pricing and Billing & Statements. To reach them, first click on your user icon in the top right of LMS, then click Account. Contract and pricing Contract and pricing is broken down into five pages: Pricing table Signature history Contra
Payment processing involves initiating payments, moving money, recording payments against the appropriate loans, and tracking failures and chargebacks to ensure the payments were truly received. LoanPro is integrated with processors for bank account and card transactions in the U.S. and Canada, making it easy for you to move money to and from borrow
LoanPro makes logging a new charge easier by letting you set new charge defaults. You can set different defaults for each combination of loan class and loan type, meaning there are sixteen possible combinations you could set. Whenever you manually create a charge, the system will pull the values connected to the loan's class and type. Setting charge
As of 10/19/22, the United States Court of Appeals for the Fifth Circuit has ruled that the Consumer Financial Protection Bureau is in violation of the constitution and invalidated the Small-Dollar Rule, though this decision is likely to be appealed. Introduction You may be familiar with the Consumer Financial Protection Bureau's (CFPB) new rules
If your business borrowers secure their accounts with collateral, you likely file a lien to publicly record your claim. But manual filing liens adds to your origination process, taking time from borrowers and agents alike. That's why LoanPro has built out a streamlined lien filing solution that can fit seamlessly into your origination process. Simil
LoanPro’s data files solution helps you store and analyze historical data from across our platform in your data lake, including loan, line of credit, payment, and customer data. It’s ideal for large scale reporting and for combining LoanPro data with external sources. Unlike a traditional database, which is optimized for daily operations, a data lak
Clojure (pronounced like 'closure') is the programming language used to express rules in LoanPro’s Automation Engine (as well as trigger-based notifications and a few other areas of the software). Most clients have LoanPro help write their rules, but some basic familiarity with the language can also help you communicate those requests to our team.
This article covers the loan tools and actions import, which changes existing loan accounts. For more general info on imports, see importing into LoanPro and import reports. Instructions and samples To get started, navigate in the LMS UI to Settings > Company > Import > Instructions & Samples. Here, you'll find sample .csv files for eve
Connections is a hub for services integrated with LoanPro, giving you a centralized location to manage your payment with third-party services. Setup and configuration in LMS Your LoanPro tenant should come pre-configured with a Connections account, which you can view from within LoanPro. Navigate to Settings > Company > Plugins > Connection
When borrowers give their bank account information to a lender and authorize them to make a payment, the lender has to go through the process of communicating with banks so the money gets moved from the customer's account to the lender's. Some lenders enlist the help of payment processing companies, but others choose to handle it themselves through
LoanPro's integrated decision engine empowers credit providers to improve their accuracy, streamline their approvals, and keep their data visible. The decision engine incorporates several interconnected steps as it vets applicants and moves them through your custom origination process: Knockout rules. Before spending any time or money on an applica
For more information on what each advanced setting means, see the advanced configuration section of the setting up a loan article. The context engine is a large database of retrievable variables, available for use throughout LoanPro software. These are the variables for setup advanced: Name Variable Description Last Schedule Roll ID [[v('last-roll
Each night, LoanPro performs tasks and automations through a process called Daily Maintenance. This process is done automatically while most people are asleep. Some of the tasks performed include calculating accrued interest, updating the automation engine, adding automatic late fees, generating scheduled reports, sending automatic emails, etc. Dail
You can use LoanPro's API to connect LMS and Secure Payments to your preferred third-party tools and custom applications. The API is a large enough topic that we've dedicated a separate help site to it—developers.loanpro.io—which is geared toward the technical personnel who can set up those connections. Here's a full directory of that site. LMS API
Secure Payments is a LoanPro product that integrates with both LMS and third-party payment processors to move money between you and your borrowers, including payments, funding transactions, and card swipes. We developed it as a separate software so that it can stay PCI-DSS compliant while leaving your day-to-day operations out of PCI scope. Secure P
The context engine is a large database of retrievable variables, available for use throughout LoanPro software. These are the variables for customer: Users Name Variable Description Additional Users [[v('additional-users')]] Displays the names of any additional users assigned to an account. This list will exclude the primary and secondary customers.
Two laws, the Military Lending Act (MLA) and Servicemembers Civil Relief Act (SCRA), shield members of the armed forces from interest rates beyond certain thresholds, with the intention of allowing them to focus on their service. MLA applies to active duty servicemembers (including those on active Guard or active Reserve duty), spouses, and certain
For borrowers, bankruptcy is a bittersweet way to absolve otherwise unpayable debt, taking a hit to their credit score in the process. For credit providers, though, it’s a risk that comes with the business of extending credit, but often brings with it a managerial headache as they handle documents, borrower communication, and court-mandated changes
For more information on what each setting means, see the additional information section of the setting up a loan article. The context engine is a large database of retrievable variables, available for use throughout LoanPro software. These are the following variables for setup additional: Name Variable Description Reporting Credit Limit [[v('setup
Within LMS, line of credit accounts are distinct from loans – it's not just a different type of loan or a special setting you apply, but a whole separate entity, with values saved to different database tables and calculations that run differently. They do, however, work similarly to loans in some ways: You can set up tenant-wide defaults, create acc
Advanced Connections is LoanPro's powerful webhook functionality, allowing you to send information to third-party systems based on your own custom automations and business logic. Advanced Connections can be used for a wealth of different purposes. Instead of simply sending a payload of information, you could automate your processes. For example, yo
LoanPro's payment types feature allows you to choose a payment application waterfall, or the order in which the money from a payment applies to the different parts of a loan such as interest, principal, and fees. Some payment types—like principal only—will direct all funds into one or two areas; others will direct funds to all parts of a loan but i
LoanPro offers a true Virtual Private Cloud (VPC) environment, providing a dedicated AWS account with isolated data and software resources. We recommend this setup to lenders planning to build new products, scale existing ones, manage high transaction volumes, or meet specific security and compliance requirements. Below, we outline some of the key a
In this area, you can run a Transaction History Search, view NACHA or CPA-005 files and history, and see your own usage history. Transaction history search The transaction history search lets you search through customer transactions. From this page, you can filter through results, get NACHA batch IDs, and get additional information about each transa
An increasing number of credit providers are incorporating borrower-friendly tactics into their collections strategies, such as hardship relief programs and repayment programs, all with the goal of helping customers stay engaged and current on their account amid financial difficulty, thereby avoiding defaults. During the early stages of the COVID-19
The USPS Address Validator and Standardization tools allow you to both validate an address can receive mail and format it properly to help it arrive more reliably. You can use both tools within a customer's page in LMS, either when entering their address or on the customer tools tab. Navigate to Users > Customer Manager > [select a customer] &
Custom fields provide more flexibility in deciding what kind of data you want to track in your lending operations. You can create custom fields for loans, customers, payments, and source companies. They're created at the tenant level, meaning that any custom field you create will go across all of the loans or customers within your company. For the c
Because the death of a borrower fully disrupts the normal repayment process, it’s vital to verify that they are actually deceased before writing off the account. That’s why LoanPro provides deceased verification and monitoring tools. LoanPro can check individual borrowers against the Social Security Administration’s Death Master File (DMF), either t
The context engine is a large database of retrievable variables, available for use throughout LoanPro software. These are the variables for company: Name Variable Description Customer Website Domain [[v('tenant-customer-website')]] The LoanPro company customer facing website domain. Tenant Theme [[v('tenant-theme')]] The LoanPro company theme. Tenan
While portfolio variables may be used to display values on custom forms, they are more commonly used for creating rules to automatically trigger events within an account. Portfolio Variables The context engine is a large database of retrievable variables, available for use throughout LoanPro software. The variable for sub-portfolios is: [[v('sub-p
Between loans, customers, payments, custom fields, rules, and all the dozens of other things you can save and configure in LMS, there's a lot of information to keep track of. Our built in reporting tools and the API are both great tools for pulling information, but many of our larger lenders want a faster way to get their info. Instead, you can go d
When an agent user starts logging a payment, they can choose options for how the payment is made, what parts of the loan it will apply to, and other details. Payment Defaults are the values that LMS automatically loads in for each option, and by customizing those defaults to match your loan products and lending model, you can make it easier for your
Before you create individual borrowers and accounts in LoanPro, it helps to understand how those entities are structured in the software: LoanPro treats each account, borrower, and card as separate entities, which can then be linked together.This article will break down what each entity is from a high-level, and point you in the right direction for
To access the Customer section, head directly into Secure Payments and click the Customers tab on the left side of the page. The Customers page has two main functions. You can search for existing customers by entering keywords into the ‘Search’ field on the left side of the screen, or you can add new customers. Customer Creation and Personal Info To
LoanPro enhances every aspect of the borrower, agent, and back-office experience. We’ve built out tools to help automate tasks and communication, give borrowers insight and control over their finances, and streamline the everyday tasks your agents perform to help them stay efficient and get more done. This article will walk through those features at
LoanPro's payment infrastructure is built around security, flexibility, and reducing payment failures. From PCI-compliant tokenization to integrated processors and fraud prevention tools, our platform gives you everything you need to accept, process, and manage payments efficiently.This article will walk through those features at a high level, linki
These settings control how Secure Payments works. The profile section shows you your API credentials, the email where notifications are sent, and MFA settings. On the processors page, you can create and edit all of you payment processors. You can set up webhooks to send information after specific events. You can also customize the styling for your S
LoanPro’s composable architecture, modern API, and configuration-first design enable us to tailor our origination workflow to suit your preferences. Origination is made up of four main components: Application. The front-end application that the consumer inputs data into for further analysis. Decision engine. A decision tree to access fraud, credit