How to Setup POS?

Step-by-Step Instructions

2. Click on the “Settings”.

3. Click on the “Lead Providers”.

4. Input any name under the general information section and click on “Save Changes”.

5. Click on the “Manage Campaign” icon then click on the “Create New Campaign” button.

6. Input the campaign name and code under the general information section and click on “Save Changes”.

7. Click on the pencil Icon with the campaign and go to the POS tab then turn on the toggle, and click on “Save Changes”.

8. Go back to “Settings” and click on the “POS” tab.

9. Click on “Settings” under the POS tab and turn on the toggle and select campaign under the “Default Campaign” dropdown then click on “Save Changes”.

Update 8/21/2021: If you select a loan assistant in the “Loan Assistant” selection, the system will default all unassigned POS loans to that loan assistant. He/she can then assign LO’s to these loans. Before the 8/21/2021 update, all unassigned loans are displayed to all LO’s having access to the “Campaign” selected.

10. Copy the link under the POS tab and can send it to borrowers/paste it on your website. Note this is a company link, from which consumers must select a LO that’s part of the POS campaign linked. Unassigned loans will be shown to everyone in the POS campaign. System admin can view/manage borrower accounts under the “Consumers” tab.

11. After you turn on the POS component, this feature will appear on the upper right side of the loan file in the Actions button drop-down. An email will be sent to the borrower for sign-up. This email will generate a loan-specific link. Do not share this link with other borrowers or files. After they follow the link to sign up, they will be able to upload documents to that loan file under the “Consumer uploaded docs” type in the Document panel.

Update 4/9/2022: A Mobile phone number or SSN will be required to send the Invite Consumer option within the loan file. This is to enhance the security of borrower information in the event the email address for the borrower is incorrect causing potentially anyone to access a borrower file through the POS. Upon clicking on their loan number, borrowers will be prompted to either enter an SMS code texted to their mobile or confirm the last four of their SSN. Borrowers will have 5 attempts to confirm their loan number. Once failed Users can check and potentially correct or re-enter mobile or SSN and resend the Invite Consumer option in the Actions button drop-down.

12. Each loan officer will have their own POS link. When borrowers use that link, a loan will be created in that LO’s pipeline. Go to profile, preferences, and POS to copy that link in the LO’s signature line.

13. Update 4/25/2022: System admins can now restrict borrowers from entering their address in the POS system when completing sections. System admin can go to settings > POS > settings > and toggle on or off the ability for borrowers to enter addresses.

13. Update 7/9/2022: Credit Authorization and E-consent are now part of the POS. At the bottom of the SUBMIT section within the POS file, borrowers will have the option of checking credit authorization and/or E-consent authorization. Within each file, the documents will generate in the initial disclosures loan document type and there will be a Consumer Information section in the Additional tab > Consumer Information section.

In the Settings > POS > Settings > Content tab there is a default language for Borrower's Authorization and Disclosure E-Consent. System Admins can customize this section to meet company needs.

9/16/2023 - Terms of Service and Privacy Policy are now customizable for borrower view when creating an account. Please note: this is between you and your borrower. This is not for LendingPad to complete on your behalf or provide out language for your borrowers. please consult your legal team or compliance officers on what language to display. See video: PP & TS video