Introduction

Lending companies need to track the various moving parts within their business for multiple purposes. Since the business of lending is always changing, it's important that the reports they generate are timely and accurate. LoanPro will pull data right from its own database and generate a variety of reports that will help track a company's progress and needs. 

This article will give a brief overview of what types of reports LoanPro creates and how they benefit lenders. Once you understand the basics of reports, feel free to read our articles Using Tenant-Level Reports and Using Loan-Level Reports.

Highlights

LoanPro has a variety of tools that make the process of obtaining reports organized and efficient. To search for loans that you want to create a report from, you can use filters and the advanced search options to narrow down your search. Once you find the loans you're looking for, you can either generate them manually or schedule them to be generated at a set frequency. Once generated, you have the options of downloading them as a .csv file or sending them to the Servicing Queue.

Overall, there are two types of reports that LoanPro users can generate in the UI: tenant-level reports and loan reports. 

Tenant-Level Reports

The tenant-level reports give a bird's-eye view of the company as a whole. They retrieve data from all of the loans in your company account. There are four different types of tenant-level reports that you can generate:

• Administration – These reports are geared toward managers. They offer broad, big-picture data that can be used to steer your entire team. 
• Servicing – Servicing reports include Delinquency Reports and Insurance Tracking Reports. Delinquency reports will show loans with past-due amounts. Insurance Tracking reports will let you search for accounts with expired insurance, no insurance, or both. 
• Transaction History - All the reports related to transaction history. This is the largest category by far with 20 different reports available.
• Forecast - Reports for payments that were scheduled in the past or are slated for the future.

Loan-Level Reports

Loan-level reports cover information that is specific to each loan. There are five categories of reports within the loan account that you can view:

• Live Amortization Schedules – These reports will give an overview of the loan account and information dealing with payments. 
• Admin Stats – The admin stats report gives you general information about the performance of a single account. 
• Daily Snapshot – Daily Snapshot will show you specific account information every day that the account exists. 
• Calculated – These reports all show calculated data (all available data) as opposed to snapshot data (data from one specific day). They will use the current data in the account to generate a new report.
• Delinquency – This report gives you a comprehensive overview of the delinquency on a loan. 

Where Do Reports Fit? 

While reports are beneficial for measuring your company's performance, they are also helpful for performing servicing tasks in LoanPro. 

For instance, lets say that want to compare a loan's payment information to the information reported by a payment processor to make sure that they correlate. You can download a loan's report as a .csv file from LoanPro and combine that information with the payment processor's information to find any discrepancies that need to be addressed.

Another example deals with the Servicing Queue. LoanPro's Servicing Queue lets agent users perform servicing tasks to a group of loans assigned to them in one place. For example, if your agent users do account audits every month, you can schedule a report to send to the Servicing Queue every month so that the loans they're assigned to are already grouped and ready for them to audit. 

This Feature is Not 

• Reports are geared toward tracking loans, not users. You can track the Actions & Results that your collection agents record in loans, but there is no native LoanPro feature that will tell you the effectiveness of each of your agents efforts. 
• The UI reporting tool doesn't scale indefinitely. At a certain point, generating a report with a large amount of data in the UI will take much longer than if you were to use LoanPro's database. Your technical team will have direct access to LoanPro's database to pull any amount of data quickly. Our Intro to Databases article explains the fundamentals of databases and how they are used in LoanPro.

What’s Next

From here, you can read Using Loan-Level Reports and Using Tenant-Level Reports for a deeper dive into each individual report within the two categories. 

You may also be interested in Generating Reports and Scheduling Reports for more information on how to use these features.