Many tasks must be completed during loan origination. A large number of documents must be assembled, certain functions need to be completed, analysis must be prepared, approval packages assembled, various approvals and sign offs completed, etc.
To help manage this process the Madison commercial loan software provides a convenient checklist feature.
- First, you may specify an unlimited number to checklist types such as checklists for various loan types, or collateral types, or loan process steps.
- Second, for each checklist type you may specify the default list of tasks that users will see when they open the checklist.
- Third, you may allow (or not allow) users to add or delete checklist tasks for a particular loan so that the tasks are just what needs to be completed for that loan.
- Fourth, when tasks are completed, users can check them off as being completed, enter the completion date, and enter any comments that are appropriate.
- Fifth, to enable a tickler report, users can identify a future completion date and it will appear on a tickler report. The tickler report list tasks by date and highlights in red tasks that have passed their completion date and in yellow for tasks that are within 7 days of completion.
The check list feature can be shared by all users on a view only or edit basis, as appropriate for each user. You no longer need to call and play phone tag or send emails to find out the status of task for each loan. Instead, users can go to the checklist reports or checklist module and see the status of each loan.