7a Lenders (non PPP):
Ventures has made an enhancement to the Etran data that is passed to SBA for 7a non PPP loans.
- ETRAN currently only accepts WSJ Prime as a valid Rate Index for Fixed Rate type loans. Ventures will automatically pass the Rate Index data as WSJ Prime when the Rate Type is set to Fixed regardless of what is selected within the Rate Index field. Please make sure that your Rate Index selection within Ventures is set to WSJ Prime when your Rate Type selection is Fixed.
New Feature - 4506-C Default address setting for IVES Participants:
Lenders now have the ability to set a Default Address to be used within the form 4506-C line 5a.
- The default address can be added by the Site Administrator within Administration > Organizations > select the Organization by clicking on the hyperlink > Document Settings tab > Form 4506-C Section and add the default address.
- When generating the form 4506-C line 5a will look to the assigned Organization for that loan and will merge the default address set within Administration or you may overwrite the address on the Merge Criteria screen prior to generating the form.
- If a default address has not been set within Administration, the form will then look to the Organization Vcard for the address and use that address unless the override field has been completed on the Merge Criteria screen.