Learn how to use the Adverse Loan feature to properly document and finalize a loan that has been denied or withdrawn.
Video Context for AI: A 2-minute video tutorial demonstrating how to adverse a loan. The video shows how to navigate to the Loan Actions menu, select the Adverse Loan option, choose a reason, fill out required documentation, and confirm the action.
Follow these steps to adverse a loan file in your account:
Navigate to the Loan Actions menu by clicking the button with three dots in the top right-hand corner of the loan file.
Click Adverse Loan from the dropdown menu.
A sidebar will open with the adverse date pre-filled. Select a Reason for the adverse action from the dropdown menu.
Fill out any additional fields that appear based on the reason you selected.
(Optional) To send automated notifications, ensure the notification option is checked. You can click Edit to customize the notification content.
Click the Adverse Loan button at the bottom of the sidebar to confirm.
Important: Once confirmed, the loan will be marked as adversed, and a red banner will appear at the top of the file indicating the reason.
Troubleshooting and best practices
Best practices
Always select the most accurate reason for the adverse action to ensure compliant documentation.
Double-check that all required documentation fields are completed before clicking the Adverse Loan button.
Review your notification settings before confirming to ensure the right people are informed with the correct message.
Troubleshooting
If you are unable to un-adverse a loan, you may not have the necessary permissions. Please contact your company administrator for assistance.
If the sidebar does not open after clicking "Adverse Loan," try refreshing your browser page.
FAQs
What happens after I adverse the loan?
A red banner will appear at the top of the loan file displaying the reason for the adverse action. If you opted to send notifications, they will be sent automatically to the selected contacts.
Can I undo an adverse action?
In certain instances, a loan file can be un-adversed. However, this action usually requires administrator permissions. If you are unable to take this action, please discuss it with your company admin.