What is Check My Loan Status?
The technical term is self-service lending portal but we like to think of it as your borrower’s favorite mortgage app. Check My Loan Status, which comes with every subscription to MortgageDashboard, gives your clients access to their complete loan information as well as a full 1003. As your borrower’s loan file is passed from processing to underwriting and so forth, they receive automatic email notifications from you. Safe to say, they’ll always be in the loop! After registering their account in our secure GeoTrusted HTTPS, any information they add to the 1003 will automatically update the loan file in MortgageDashboard.
Check My Loan Status is the most advanced client portal in the mortgage industry. See a few of it’s features:
- Full 1003 loan application
- Automatically syncs with / creates loan file in MortgageDashboard
- Email notifications based on status
- Secure site verified by GeoTrust
- Tablet-friendly
Mortgage origination software should be versatile. Our team has set out to develop an application that meets borrowers where they are and helps loan officers become more efficient. Instead of spending countless hours performing data entry, Check My Loan Status free’s lenders to go out and generate more loans. Moreover, Giving borrowers and realtors the ability to see their loan information 24/7 (including closing conditions) improves your communication and customer experience.
Getting Started with Check My Loan Status is Easy. Here are 4 Steps:
- Send your client your unique Check my Loan Status URL through MortgageDashboard
- Borrower registers and begins a loan application (you get an email)
- Borrower completes a loan application (you get another email)
- Borrower can check loan status and is emailed automatically based on status of loan
Ready to see it in person? Take a live tour of Check My Loan Status today!
Take a Tour of Check My Loan StatusFull Tutorial of Check My Loan Status
How to Set up Check My Loan Status in MortgageDashboard
To set up Check My Loan Status on your MortgageDashboard account, click on the “Settings” tab from your pipeline screen. Following this, locate the “Extensions” tab and the “Check My Loan Status Settings” tab thereafter.
There are two check boxes on this screen. One allows you to deny access to Check My Loan Status to borrowers and the other to realtors. There is also a field that allows you to upload your own head shot, which allows borrowers to see your face when they log in to the program.
Once you’ve selected your options and uploaded your portrait, select “Save Check My Loan Status Settings”.
Each loan officer has a unique link to Check My Loan Status. After all, you wouldn’t want borrowers filling out applications for a different company! On the “Email Template” tab, you can customize the email that sends your unique Check My Loan Status link.
The email template allows you to set your:
Subject Title
Email Type
Body Text
Want to know an easy way to customize your email? Instead of adding a static “Hello Customer” you can insert variables like “Borrower_FirstName”. MortgageDashboard will replace “Hello, Borrower_FirstName” with the first name of the borrower i.e. “Hello John”. Cool, huh? You can do this with any of the variables.
Once you have written your email template, select “Save” at the top of the screen.
Sending Your Unique Check My Loan Status Link
Ready to have a borrower start a loan application? You can send your unique Check My Loan Status link to the borrower (it’ll come with that nifty email template you created), from the “E-mail Application” tab under “Tools” on the main pipeline screen.
After clicking “E-mail Application” add your potential client’s email address and select “Send”. They’ll receive an email immediately and it will look as if it came directly from your email. After clicking your unique Check My Loan Status link, they’ll be able to register their account and begin a loan application.
Filling a Complete 1003 on Check My Loan Status
After creating an account, both you and your borrower will receive an email notification. This email will verify that your borrower has begun the loan application. An account will also be created in your prospect pipeline and will update as your borrower adds information to the 1003. You’re able to begin originating your loan as soon as they create an account!
There are 9 pages of the 1003. The beauty behind this application is that borrowers can save, quit and resume at any time. On page 9, they’ll be able to submit their loan application. After which, you will receive an email notifying you they have completed the 1003.
Checking Their Loan Status
After a borrower has submitted their 1003 they will have access to their loan information at any time. As you work on their loan file, they will also be able to track their application progress from “application created” to “funding”. As your loan file goes from processing to underwriting and so forth, the borrower will also receive an email notification. They will never be out of the loop!
The Loan Information screen will also display their origination, property and loan information. The borrower can also add notes about the loan file which are saved on the program and also the conversation log in MortgageDashboard. Any conditions to close will be displayed on the Loan Information page as well.
