November 22, 2022
504 API Authorization:
Ventures is excited to announce that we have enabled the ability to generate the Etran SBA 504 Loan Authorization directly from Ventures! The ability to generate the Authorization Wizard will remain available until phased out by SBA. Use THIS link to join us on Tuesday 11/29/2022 at 8 am PST as we demonstrate this exciting new feature.
Review the KB Article and Video for this new feature HERE
New Snippet capability added:
The Collateral Menu > Collateral Type = Real Estate > Real Estate Tab > Description narrative has been enhanced to allow for snippets. Your Site Admin can set up the snippet template(s) in Administration > Reference > Text Snippet menu, using the “Real Estate Description” snippet purpose. Take a look at our KB article Creating Text Snippets for a refresher on creating snippets.
Insurance Mortgagee Clause report field added:
You asked, and we listened. The “Mortgagee Clause” field, in an Insurance tracking record, has now been added as a report field in the Loan Insurance field category to be used in your reports.
Web Templates - New Collateral merge fields added:
New merge field: “List Of All Collateral Types”
Displays a list of all collateral types recorded for a loan in the Collateral menu
New merge field for Collateral parameter - “Collateral Type”
Can be used in subtemplates
Notes section added!
Within an Application's Summary page, a Lender can record comments related to the application in the Notes section. Only Lender users will see and have access to the Notes section. Please review KB Article Apply+ Notes for more information.
New Payments+ Debt Forgiveness Transaction added!
This transaction reduces principal, interest, and fees assessed but not yet paid, to $0 balances. You would use this transaction if you are forgiving the full remaining balance of the loan and the borrower will not be making any further payments. Please review KB Article Payments+ Using a Debt Forgiveness Transaction Type to see a video about this new enhancement.
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