How to Create PreApproval or PreQualification Letters

A Loan Officer will have the option to send one of two PreApproval Letters from Loan Center.

PreApproval Letter:  This letter to be used when pre-approval is based on a review of the borrower’s credit and requested income and asset documentation.  (Income and asset documents have been reviewed)

PreQualification Letter:  This letter to be used when pre-approval is based on the borrower’s credit and stated income/assets.  (Income and asset documents have not been reviewed)

Complete a TBD application with credit run.  Shop for rates and select a product.

Hover over Menu and click PreApproval Letter

Select the Type of Letter you wish to send from the drop down under Template and Save & Preview Letter.

For PreApproval and PreQualification Letter(s):  The user will only be able to edit a few terms such as: Purchase (price), Loan Amount and Expiration Date within the PreApproval Letter section. The user may Save & Preview Letter but may not edit the verbiage set forth by the company.

Sample PreApproval:

 Sample PreQual:

NOTE: If the user wishes to edit the verbiage of a letter they must reach out to their support/project team. Their support/project team will work with their implementation/support team at CV to create a new template through the change request process. 

After Saving, double click the PDF icon next to the saved PreApproval line item.  You may now print the letter or save it to your desktop.  You also have the option of creating a second letter by completing the above steps in the “New” row.