Loan Programs

A loan program is a product you offer, such as a fix and flip, a DSCR rental, ground-up construction or a business line of credit. It's the highest-leverage setting in the system: the program on a file decides which fields appear, which documents are required, which workflow steps apply and which guidelines the deal is measured against.

Where to find it

• Platform Settings → Company Info → Loan Programs: pick from the pre-configured programs, or create your own.
• Platform Settings → Custom Loan Guidelines: each program's lending rules, drop-down values and default fees. See Loan Guidelines.

Picking your programs

You rarely start from a blank page. The platform ships with pre-configured programs for the products private lenders write. Enable the ones you offer and they arrive with sensible fields, documents and workflow already attached. When you create your own, you can copy the form field and required doc settings from an existing program.

Create a new program only when you offer a genuinely different product. A new product deserves a new program; a new rate doesn't.

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Activate programs on each branch

Branches can offer their own set of loan programs, so a program must also be active in the branch profile before it appears on that branch's web forms. How to activate a loan program in the branch profile

Loan programs vs. internal loan programs

The loan program is the borrower-facing product everyone sees. Internal loan programs are back-office only. They overlay extra fields, documents or workflow steps for a particular investor or capital partner. See Internal Loan Programs.

Setting up your first program

1. Start with your highest-volume product. You know its rules without looking them up, so mistakes stand out.
2. Enter the limits from your actual credit policy in Loan Guidelines.
3. Enter the default fees.
4. Restrict the drop-downs to values that apply, which keeps bad data out of your web forms.
5. Create a test file under the program and check that the fields, fees and values match.
6. Copy the pattern to your other products.

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Changes affect future work, not past files

Tightening a program doesn't rewrite closed deals, but it can start raising warnings on live files. Tell your processors when a policy number changes.

Full detail: in LendingWise, open Loan Origination → User Guide → Loan Programs & Custom Loan Guidelines.