Create the Deal Room

Use the Deal Room to create Document Categories using which you can classify the various documents required for processing applications for each loan product. For example, for a small business loan product, you may create a category called Financial Documents to include documents like tax returns, bank statements, and balance sheets. Now in the Financial Documents category, you can associate documents, and you can also message other users to add documents to it. Each document category can be assigned to a party type. Based on the party type, specific users are assigned each document within a category for processing. For example, a user of party type Reviewer may review all the personal information documents submitted by the borrower.

You can define product document category junctions to associate the relevant document categories to a loan product. When an application for this loan type is created, the Deal Room automatically displays the relevant documents required as part of application processing based on the party types associated with the application.

You can create the Deal Room for an application using the Create Deal Room button on the application record page when you create the application. 

To create the Deal Room, you must:

1. Set up document categories and assign them to party types. See the Document Categories section of the Q2 Origination Administration Guide for more information. 

2. Create product document category junctions.
   

3. Add relevant parties to the application.

Prerequisites

Before you proceed to set up the Deal Room for a commercial loan application, ensure that the following prerequisites are met:

• The CL Product is defined.

• Document Categories are set up and assigned to party types.

Steps

To set up the Product Document Category Junction:

1. Log in to your Salesforce account.
   

2. Go to Origination Configuration > Deal Room and Dashboard Setup > Manage.
   

3. Select Document Categories.
   

4. On the page that appears, select a product document category.
   

5. Select New Product Document Category Junction on the page that appears.
   

6. Specify the CL Product.
   

   This, by default, is the ID of the CL product generated when you created the product.
   

7. Select the search icon in the Document Category field. Search and associate the required document category with the product.
   

   The search results show the defined document categories and who these are applicable for - Party or Contract. Select the relevant document category.
   

8. Select Save. 
   

   A name is generated for this product and document category association.
   

9. Go back to the CL Product list and optionally, repeat steps 3 and 4 to associate more document categories.

To set up the Deal Room:

1. Go to the application to be processed.
   

2. Select Parties and associate different contacts and users with the application, and define their party types.
   

   These will be the parties that will work on the application. For example, you may select different contacts and define their party type as Borrower, Co-borrower, Loan Officer, and so on. Based on the party types you associate with the application, the deal room pulls the document categories related to these party types.
   

3. Go to the Applications tab.
   

4. Select Create Deal Room.
   

5. Go to the Deal Room tab.
   

   You can see the relevant document categories and their subcategories along with the details you have provided while setting these up. You can also see the party responsible for acting on a document and reviewing it. 

Field Reference