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This document will show key display differences when a Broker that is a current client of LendingPad (LP Broker) registers a loan with a Wholesale Lender that is also a current client of LendingPad (LP Lender).
In order to submit a loan to an LP Lender, the LP Lender and LP Broker accounts must be connected. LP Lenders should submit an email to support@lendingpad.com noting that the LP Broker has been approved to be connected. Once the LP Broker has been added, the LP Broker can select the LP Lender from the “Wholesale Lender Information” section of a file. The LP Broker will select the LP Lender and program, and click the “Register with Lender” button.
Once this step is completed, an application is created in the LP Lender’s pipeline, which will display as an application clone in the LP Broker’s pipeline.
The application will also receive a Lender Loan number visible in the pipeline view and within the individual record.
The application clone will now serve as the primary record for the application when working with this LP Lender. When your LP Lender makes changes to the record, updated statuses will display in the application clone only.
If your LP Lender allows you to continue to upload documents past Registration, ensure you are accessing the copy of the record that has been created for your LP Lender to add/modify additional information. Uploading to the original application will NOT submit this information to your LP Lender.