Realfinity Platform Release - 07.01.2024

The latest release includes enhancements to the Realfinity POS (Point of Sale) and 1003 Loan Application.

New Features

1. Point of Sale (POS) Enhancements

Timeline View and Application Status

• Overview: Our loan application details view now includes two additional tabs, Loan Details, and Activity Log. The Loan Details tab consists of the current loan status (which matches what is shown in the LOS), important dates (like the estimated closing date), and other details. The Activity Log shows what was updated in the loan application with time stamps and details.
• Benefits: This enhancement gives borrowers, dual-licensed realtors, loan officers, assistants, and processors more alignment on the status of the loan application through the loan timeline and details. It also shows the change log of the loan application, which can alleviate questions or issues if multiple people are working on the loan application.
• Video: POS Enhancement: Loan Details and Activity Log

Viewing Documents

• Overview: Our latest release includes the ability to view uploaded documents.
• Benefits: This enhancement gives the borrower more clarity about what was uploaded and allows for real-time confirmation. The loan officer can also easily view what documents their borrower uploaded and no longer have to go into the LOS to see the documents.
• Functionality: Documents can be viewed, and the file can also be renamed.
• Video: POS Enhancement: View Uploaded Documents

Managing Conditions (Accept / Reject) • Processor Role Only

• Overview: Processors can view, accept, and reject documents on the Realfinity Platform.
• Benefits: This update ensures that the loan pipeline view and documents in our LOS will be less cluttered because the documents have to be accepted before syncing with the LOS.
• Functionality: Processors can accept or reject documents the borrower uploads to the Realfinity Platform. Uploaded documents will no longer be automatically sent to the LOS. If the processor rejects the document, they must select a reason for rejection and add an explanation. The borrower will get an email notification with the reason and a prompt to re-upload the document(s).
• Video: POS Enhancement: Accept or Reject Documents

2. Loan Application Enhancements

View and Edit Loan Application

• Overview: This update allows the user to view the loan application after it is submitted to the LOS.
• Benefits: This enhancement gives the borrower and loan officer more control since they can view and verify the submitted information. They can also edit or add information to the application after it has been submitted (provided it is not in the processing stage).
• Functionality: The user can click on the loan application to launch the loan app interface or the loan officer can click on Menu > Open on the task item. If the loan application has already been sent to the LOS, it will have a green status indicator on the Tasks page. From the review page, the user can expand each section to see what information was submitted and click "edit" under each section to update information.
• Video: Loan App Enhancement: View and Edit

Short Loan App for MLOs and DLRs

• Overview: We have introduced a "short loan application," which allows the processing team to do a quicker review for a pre-qualification. This is a short form that captures some basic information first and sends it along to the LOS.
• Benefits: This is an optional step in the loan application process but it can be helpful to get an initial review of the client's financial situation before submitting the full app.
• Functionality: Only DLRs or MLOs can view this short app and they can initiate it from the Loan Details tab on the loan view in the Realfinty Platform by clicking "Start Pre-Qualification." Once this is submitted, it will pre-populate the loan application form with the information already submitted for the short app.
• Video: Loan App Enhancement: Short App (MLO View)