What are Form Bundles?
Form Bundles are collections of forms grouped together in a specific order to facilitate the completion of related documents. They include optional conditional rules that determine when each form is included in the bundle. This ensures that the right forms are presented at the right time, based on predefined criteria.
Core Features of Form Bundles:
Ordered Presentation:
Form Bundles allow you to define the exact order in which forms appear. This ensures that users complete documents in the correct sequence, enhancing workflow efficiency and compliance.
Conditional Inclusion:
Forms within a bundle can have conditional rules that dictate when they are included. These conditions can be based on loan data, borrower information, or other predefined criteria, ensuring that only relevant forms are presented.
Comprehensive Management:
Form Bundles provide a comprehensive way to manage related forms, making it easier to handle complex workflows that require multiple documents.
Customization:
Users can customize Form Bundles to fit the specific needs of their organization. This includes defining the order of forms and setting the conditions for their inclusion.
Examples of Form Bundles:
Loan Application Package:
A bundle that includes forms such as the Loan Application, Borrower Authorization, and Employment Verification, presented in the required order for completion.
Disclosure Package:
A bundle that contains all necessary disclosure forms, such as the Loan Estimate and Closing Disclosure, with conditional rules to include additional forms based on the loan type or borrower’s state of residence.
Approval Package:
A bundle for the final approval process that includes forms like the Final Approval Notice, Terms and Conditions, and any required affidavits.
Benefits of Using Form Bundles:
Streamlined Workflow:
By organizing forms into bundles with a specified order, Form Bundles streamline the document completion process, saving time and reducing errors.
Relevance:
Conditional rules ensure that only the necessary forms are included in the bundle, making the process more efficient and reducing unnecessary work.
Consistency:
Form Bundles help maintain consistency in documentation by ensuring that all required forms are completed in the correct sequence.
Customization:
The flexibility to define and customize Form Bundles according to your organization’s needs allows for a tailored approach that enhances overall efficiency and effectiveness.
Integration with Other Features:
Tasks:
Form Bundles can be linked to tasks, ensuring that users complete all necessary forms as part of their assigned responsibilities. This integration helps maintain workflow efficiency and accountability.
Automated Actions:
Form Bundles can be utilized in Automated Actions, enabling the system to generate and send bundles automatically based on predefined triggers and conditions. This automation ensures timely and accurate documentation.
Loan Actions:
Form Bundles can also be integrated with Loan Actions, allowing users to generate and complete bundles as part of specific loan-related activities. This integration streamlines the documentation process within the loan lifecycle.
Conclusion:
Form Bundles are an essential feature within Lender’s workflow automation toolkit. By organizing related forms into bundles with a specific order and conditional rules, Form Bundles streamline the documentation process, ensuring that all necessary forms are completed accurately and efficiently. The integration of Form Bundles with Tasks, Automated Actions, and Loan Actions enhances workflow efficiency and accountability, making them an indispensable tool for optimizing loan origination and processing.