Ventures+

MUST READ

New Enhancement

EXPANDED JOB TRACKING CAPABILITY

We are excited to announce we have added new functionality for Job Tracking. This enhancement includes the ability to allow Lenders to track job numbers during the servicing stage at any point in time and to track job numbers on a continuous basis. Watch our videos in KB article Jobs Tracking for a summary of the new Jobs Tracking menu and how to best use it!

What is new?

Eligibility > General > Jobs tab: A table format has been added for easier viewing and tracking.
Tracking > Jobs Tracking menu: This menu will be available once the loan is in a Funded status.
- Track and record as many job number verifications needed
- Use ticklers to track any verification/anniversary date you designate
- Track and record 504 loan type 2 Year Anniversary job numbers
Values previously recorded under the 2 Year Anniversary section and Servicing section in Eligibility > General > Jobs tab have been migrated to the new Tracking > Jobs Tracking menu. See how the values have been mapped in our migration matrix HERE.
Jobs Tracking report and report fields:
- 2 new system reports have been added: Jobs Tracking - Origination Report and Jobs Tracking - Servicing Report
- New Report category has been added: “Loan Job Tracking”
- New Latest Jobs fields have been added to the “Loans” category

504 LENDER ACTION CHANGE for SBA Annual Jobs Report
- Once 2 year Anniversary job numbers are obtained, you will need to update the new “As of Date” with the confirmed date. See KB article Jobs Tracking for more information.

What is staying the same?

Lenders will still input the number of jobs at origination in the Eligibility > General > Jobs tab
Previously created 2 Year Anniversary tickler templates will still work and be attached to the record.
The "2 Year Anniversary" Tickler Type was updated to the new "Job Tracking" type, but no Lender action is needed.
System and custom reports using existing Job related report fields will still work, with a few exceptions - see migration mapping matrix HERE.

Payments+

Interest Paid for 2022

It is that time again to notify your borrowers the amount of interest they have paid! We have an “Interest Paid” letter that you can use - please review our KB article Payments+ Generating Annual Interest Letters for instructions. For clients that have borrowers eligible for an IRS form 1098, please review our KB article Payments+ 1098 Report. We do not support generating a 1098 form. We do support the Lender being able to mark which accounts require a 1098 form, and then generating a report with the necessary information, to complete the IRS form or forward to an outside party for filing.

***Please note you may see some UI changes, as some obsolete menus have been removed from the Payments module, like our Payments > Actions > Generate Tax Forms menu, as they are no longer supported. ***

Apply+

Custom URL to assign product and/or user

Users can now create custom URL links that automatically assign a product to anyone that uses the link to start the application. This allows the applicant to skip the validation process for that product. The custom URL link builder can also assign the application to the user that generated the custom link. This is helpful if a lender wants to give a URL to someone interested in applying and the lender already knows the product the applicant should be assigned and they want the application to be assigned to them. Please read KB Article: Apply+ Custom URL link to assign product and/or user to application for more information!

A message from the Ventures Support team:

Thank you to those that have already adjusted and continue to use the Contact Support Widget located on the upper right portion of Ventures! For faster response time please continue to use the Contact Support Widget to submit any Ventures inquiries, this will ensure that your inquiries are not blocked by SPAM, that they land in the appropriate queue, and that all Ventures Support Staff has access to these inquiries and can provide a response accordingly.

Have new staff, need a Ventures refresher? Access the Foundational Webinar Series recorded sessions.

The Contact Support widget also allows you to input keywords into the Subject Line and provides a list of helpful KB Articles that you may access and/or may answer your queries.