How to Send PreApproval or PreQualification Letters

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

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 LOAN and click PreApproval Letters

Select the Type of Letter you wish to send from the drop down under Template, input Expiration Date and click Customize Letter.

 

For PreApproval Letter:  The user will be able to edit the default list of conditions in the modal window to meet the specific criteria they need from the borrower.  For compliance reasons, no other fields will be editable.  Once done editing, click Save.

 

For PreQualification Letter:  The user will not be able to edit the letter due to compliance reasons.  After reviewing the letter, click Save.

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.

 

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