The Contextual Bar is the black bar that appears directly below the header. This bar adapts throughout the loan process to display important information about the loan status, the borrower, and the subject property.
Table of Contents
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Overview
The Contextual Bar displays the following information about the active loan:
- the borrower’s name
- the subject property address
- the current status of the loan
- the loan application date
- the loan number
From the Contextual Bar, users can:
- access the loan Menu and navigate through the loan application
- view any previously-generated Quotes
- take Notes on the active loan
- Save or Cancel changes to the loan
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What information is displayed in the contextual bar?
Borrower Name
Throughout the loan process, the name of the primary borrower will appear to the right of the Menu button on the Contextual Bar.
When a new loan application is created, the borrower’s name will appear as ‘New Application’ until the name is provided by either the borrower or the loan officer. After the name has been entered into the loan application, the borrower’s full name will replace ‘New Application’ in the Contextual Bar.
Page Name
The name of the currently active page appears in green directly below the borrower’s name.
Property Address
The subject property address appears to the right of the borrower’s name on the Contextual Bar.
If an address has not yet been entered on the loan application, the property address will appear as 'TBD’ until the borrower or the loan officer enters the property information.
If the borrower is still shopping, the property address section may appear as ‘TBD’ followed by information about the city, state, or ZIP Code where the buyer is looking to purchase.
Loan Status
The current status of the loan appears to the right of the property address in the Contextual Bar. As the user completes the individual steps of the loan application, the loan status will update automatically.
Loan Status Tooltip
By hovering over the Loan Status Tooltip (?), users can view definitions of each status in the loan process. These statuses are:
- Prospect
- Pre-Approved
- Incomplete
- App Completed
- Processing
- Post-Processing Statuses
- Adverse
- Cancelled
Lender Status
In the initial stages of the loan application, Cloudvirga’s Intelligent Mortgage Platform (iMP) serves as the system of record for the loan. After disclosures are requested and created, iMP is replaced by the lender’s Loan Origination System (LOS) as the system of record. When this happens, the ‘Loan Status’ label will change to ‘Lender Status,’ which indicates that the lender’s LOS is now functioning as the system of record for the current loan.
‘Lender Status’ will continue to display the current status of the loan, but from that point forward, the status indicators that appear will be those used by the lender’s LOS, not iMP. This means that you may see different status milestones under ‘Lender Status,’ depending on which LOS you are using.
When a user with Admin privileges hovers over the words ‘Lender Status,’ a tooltip appears that displays the equivalent iMP loan status.
In some cases, the equivalent status may be the same as the one defined by the lender’s LOS, as in the image below. Here, both systems use the same term - ‘Processing’ - to refer to a loan that has collected the six pieces of RESPA information and is waiting on further action, and so the information contained within the tooltip is identical to the information in the ‘Lender Status’ field.
There may be instances, however, in which the LOS lender status is equivalent to an iMP loan status that has a different name.
Lenders can configure the mapping of equivalent iMP loan statuses and LOS lender statuses at the time of system onboarding. These settings can be updated at any time by contacting Cloudvirga’s customer support team.
Lender Status Tooltip
By hovering over the Lender Status Tooltip (?), users can view definitions of each lender status as they are defined by the lender’s LOS.
Loan App Date/Loan #
The loan application date and loan number are assigned to the loan once the application has collected the following six pieces of information, per RESPA:
RESPA (Six Pieces):
- Borrower’s Name
- Subject Property Address
- Estimated Value (Refinance) / Purchase Price (Purchase)
- Loan Amount
- Borrower’s Social Security Number
- Borrower’s Income
Edit Loan Application Date (Privilege Setting)
Users with the 'Edit Loan Application Date' privilege can change the loan application date by clicking the date field in the contextual bar. Any changes to the application date will be stored in the audit log.
Pricing Results
When users are on the "Pricing Results" page, the contextual bar displays the following pieces of information:
- Loan Amount - requested loan amount
- Est. Value - estimated value of the subject property
- LTV | CLTV - Loan-to-Value ratio & Combined Loan-to-Value ratio
- DTI - debt-to-income ratio
- FICO - borrower's credit score
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Using the Contextual Bar
Back Button
The Back (←) button returns the user to the most recently viewed page.
Open the Loan Menu
The Menu button displays the Loan Mega Menu, which can be used to navigate to different portions of the loan application and manage the processing of the borrower's loan. The mega menu contains the following sections:
- Application - use this section to navigate to the individual sections of the loan application
- Pricing and Fees - the links in this section can be used to shop for loan products and review other costs throughout the loan process
- Actions - this section contains links for managing the loan, such as sending disclosures via SecureLink, running AUS, or requesting documents from the borrower
- Processing - the links in this section are used for processing loans
- Tools - the tools in this section can be used to re-assign, duplicate, or export the loan, or review the loan history
Review Price Quotes
The Quotes button displays a modal window that contains any price quotes that have previously been requested for the current loan.
Take Notes
The Notes button allows the user to take and save notes about the loan. Use the flyout window to write a comment and Post it to the loan record. Posted notes are stored in this window.
Save or Cancel Changes
The Save button allows the user to save any changes they have made to the loan application
The downward arrow on the right side of the Save button opens a drop-down menu that contains the following options:
- Save - saves any changes made to the loan
- Save & Exit - saves any changes made to the loan and returns the user to their pipeline
- Cancel Changes - deletes any changes made to the loan since it was last saved
Read Only
If another person is working on the active loan, the contextual bar will display the 'Read Only' icon to indicate that the user is unable to make any changes until the other person is finished.
Review Synced Loan Data
After the loan data has been sent to the lender's LOS and the LOS is functioning as the system of record, the Data icon appears in the contextual bar. Click this icon to view the loan data, including any changes that have been made in the LOS.
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