A loan or a lease opportunity may need many documents to support it. These documents can be categorized into various types, called Document Category, and multiple documents can be associated with a document category.
With the Hydrogen release of Q2 Origination, you can track the status of a Document Category and also of the documents associated with it. This can be achieved by enabling the option at the product level. After this option is enabled on a product, you can track the status of each document for the applications created from that product.
You can edit the document status as Approved, Submitted, Reupload, or Rejected and can track the status change history on the Document Category Status History tab. Posting the comments is enhanced to the file level, along with the document category level.
When the required documents are uploaded/sent by the borrower, the back-office user gets an email notification for the same, and then they review those for the validity, quality, and other relevant aspects of the file and performs one of the following actions:
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Submitted- When the document is uploaded against a document category, updates the status toSubmitted .
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Approved- When the document is valid, updates the status to Approved.
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Rejected - When the document is not sufficient to approve the loan, updates the status to Rejected and specifies the reason for rejection.
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Reupload- When the document is not clear or expired, updates the status to Reupload and specifies the reason to re-upload the document.
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Open- When a document category is created for an application, the status for that document category is Open.
Prerequisites
The following are the prerequisites to track the document status at the document category level:
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To track the document status at the file level, the Document status tracking at the file level option is enabled for the product.
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At least one document category is created.
Steps
To track the document status at the document category level:
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Log in to your Salesforce account.
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Go to
(App Launcher) > Applications.
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On the Applications tab, and from the list of applications, select the required application.
The loan dashboard is displayed.
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Select the Documents tab.
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Select the required document category and go to Action and select Edit Status to edit the status of the document, and select one of the following Status options:
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Submitted
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Approved
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Rejected
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Reupload
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Open
Note
If, for a document category, no document is uploaded, and you are updating the status to Reupload, Submitted, or Approved, the system throws the following error:
"Document status cannot be changed to 'Submitted,' 'Approved' or 'Reupload' unless a file has been uploaded"
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You can associate reasons from a pre-configured list of reasons while updating the status of the document to Rejected or Reupload. Following are the supported options for Reason:
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Blurry File
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Expired Document
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Incomplete Document
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Other - If Other is selected, specify the reason in the Other Reason field.
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Select Save.
You can see the updated status and the reason under the Status field. The reason displayed here under the Status field can be used for later references. Whenever a user overrides the status of the document, the latest status and the associated reason (if any) are displayed under this field.
A history is logged for all status changes for each document category, along with the date and time stamp. To view the previous and the current status:
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Log in to your Salesforce account.
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Go to
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Select any of the document category status history name hyperlink to view the details of the status change.