You can have various type of workflows like application, processing & underwriting, closing, post closing, loss mitigation, etc... Inside a Workflow are steps that represent action items that need to be done. We don't recommend creating steps that say "Upload xyz doc" that is handled with the required docs module.
Each workflow step has a status drop down [Completed, Pending, Needs Legal Review, Needs Manager Review, Not Applicable] and a notes box, so all users can see real time status of all steps with detailed notes. Workflows are viewable by employees, branches, and LOs/Brokers by default. Branch & Brokers can have editing rights on or off.
You can add a new workflow step inside a loan file, that is unique to that loan file only.
Conditional logic--> Workflow steps can be conditional to loan programs, transaction type, property type, state, credit score range, etc... They will only display for users if the conditions matches in the loan file.
Automation Triggers--> Workflow steps can have automated triggers to create events like Task/Reminder, Emails, or webhooks. The step has to be clicked to enable the automated trigger rules. The triggers can be initiated # of days loan file is in certain stage, X days before or after certain date types like date workflow step activated, closing date, call back date, file created date, property taxes due, maturity date, birth date, etc…
Enter a description in any workflow step to explain what a workflow step should cover, so while a users is working a loan file they can mouse over the ‘i' icon to see the description of what is expected to be done. This will dummy proof your entire business processes.
The default workflows are only suggestions. You can delete any unnecessary ones, edit the existing ones, and add as many as you want. You can even have just one master workflow, if you want to keep it simple.
Refer to the Master Onboarding template--> Workflows section and overwrite it with your preferred workflows and steps... Make comments on workflow steps, to indicate any automated rules for sending emails, creating tasks or sending webhooks to various parties.
Updated 2 months ago