Introduction:
Loan Tags are a versatile feature within Lender’s platform, designed to enhance the organization and tracking of loans. This article will introduce Loan Tags, explain their purpose, and outline how they can be defined and utilized within the platform.
What are Loan Tags?
Loan Tags are customizable labels that clients can define and assign to loans. They allow users to categorize, organize, and track loans based on specific attributes or statuses. Loan Tags provide a flexible way to manage and organize loans according to the criteria defined by the client.
Core Features of Loan Tags:
Customizable Tags:
Clients can create and define Loan Tags based on their specific needs. These tags can represent various attributes such as loan status, priority level, geographic location, or any other relevant criteria that helps in categorizing loans.
Tagging Loans:
Once defined, these tags can be assigned to loans within the platform. Users can easily tag loans to categorize them based on the defined criteria, making it simpler to manage and track loans.
Full History Tracking:
Lender maintains a complete history of how and when tags are added or removed from a loan. This historical tracking provides valuable insights into the changes and progress of a loan over time, ensuring transparency and accountability.
Flexible Organization:
Loan Tags provide a flexible way to organize loans. Users can quickly filter and search for loans based on their tags, making it easier to find and manage loans that meet specific criteria.
Examples of Loan Tags:
Priority Level:
Tags such as "High Priority," "Medium Priority," and "Low Priority" can help categorize loans based on their urgency, allowing teams to focus on the most critical loans first.
Geographic Location:
Tags like "East Coast," "West Coast," or specific city names can help organize loans based on their geographic location, making it easier to manage region-specific workflows.
Loan Status:
Tags such as "Pending Approval," "Under Review," and "Closed" can provide a quick overview of the current status of loans, streamlining the tracking process.
Benefits of Using Loan Tags:
Enhanced Organization:
By categorizing loans with tags, users can maintain a more organized and structured workflow, making it easier to manage large volumes of loans.
Improved Tracking:
The full history tracking of tag additions and removals ensures that all changes are documented, providing a clear audit trail and improving accountability.
Customization:
The flexibility to create and define tags according to your organization’s needs allows for a tailored approach that enhances overall efficiency and effectiveness.
Quick Filtering and Searching:
Loan Tags enable users to quickly filter and search for loans based on their tags, saving time and effort in locating specific loans.
Conclusion:
Loan Tags are a powerful feature within Lender’s workflow automation toolkit. By allowing clients to define and assign customizable tags to loans, Loan Tags enhance the organization, tracking, and management of loans. The full history tracking of tag changes ensures transparency and accountability, making Loan Tags an essential tool for optimizing workflow management and improving overall productivity in the mortgage process.