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March 15th, 2023
Announcements
Ventures
UPDATES to Job Tracking Capability
ALL LENDERS
There have been a few updates to our Job Tracking feature that you will want to be aware of.
- The Eligibility > General > Jobs menu will now only show the "Origination" record. Previously, this menu would show any additional Servicing or Jobs at 2 Years types that were added in the Tracking > Jobs Tracking menu. You will still be able to view and edit the Origination record in the Tracking > Jobs Tracking menu.
- We updated a few existing web template merge field labels. No action is needed, they will work if you currently use them or if you add them moving forward.
- Changed “Jobs Preserved” merge field name to “Jobs Retained”
- Changed “Current Jobs” merge field to “Latest Jobs Existing”
- Changed “Current Jobs Date” merge field to “Latest Jobs Existing Date”
504 LENDERS - Jobs at 2 Years record
We heard feedback from our 504 Lenders and have made some adjustments to how the "Jobs at 2 Years" record works in the Tracking > Jobs Tracking menu. Please see below, and review KB article Jobs Tracking, for a summary of the updated information.
- You will now see "Not Confirmed" in the As of Date column if there are no job numbers recorded in either Existing, Created, or Retained job fields. When you enter the record, the As of Date field will be locked and blank.
- Once you have job numbers to record, enter the values in either Existing, Created, or Retained job fields in the "Jobs at 2 Years" record, and the As of Date field will unlock and require you to put the date you verified the numbers.
- You will now see a new "2 Year Anniversary Date" field within the "Jobs at 2 Years" record.
- You will now see the 2 Year Anniversary Date in the gridview within the Comments column.
SBA Form 1506 - Servicing Agent Agreement (SAA)
We heard you! The form is now available as a Web Version which will download in Word format. You can generate this form within the Closing Requirements menu > Servicing Agreement menu and from the Documents > Generate menu. We have disabled the fillable PDF version.
REMINDER - SBA Form 1244 and IRS Form 4506C
The most recent versions of the SBA form 1244 and IRS form 4506C are available in Ventures. The previous versions have been removed from Ventures and are no longer valid.
Added Snippet capability
Ventures has added snippet capability to the Equity Injection Details (Financing Menu) and Character Determination Explanation (504 loan entity contact) narratives. Your Site Administrator can manage the Character Determination Explanation Narrative and Equity Injection snippet type in the Administration menu. Please review our KB article Creating Text Snippets for instructions.
504 Lenders
Did you know you can generate the Etran Loan Authorization directly from Ventures? View the KB article and video labeled Generating the Etran SBA 504 Authorization from Ventures to learn more! Questions? Use the Contact Support widget located on the upper right portion of Ventures.
Apply
Customize Landing Page labels
Your portal landing page verbiage can now be customized. You can customize the text in the Site Settings > Customize Text > Landing Page tab. Please review KB article Apply Portal Text Customization that reviews what verbiage is customizable on your portal.
New Spouse mapping
We have added mapping from Apply to Ventures fields related to a loan entity contact's spouse. The mapping will populate the fields in the Entities menu > Entity > Loan Entity Contact > Background tab > Spouse section. If your portal application is currently asking for spouse information, consider updating the fields with the new identifiers so that more data will flow to Ventures existing fields, and reduce your data entry! Please review KB article Apply+ Updating mapping Identifiers in an application for instructions on how to do this. Send in a ticket to support if you need assistance with this!
A message from the Ventures Support team:
For faster response times and to ensure proper tracking of your inquiries please continue to use the Contact Support Widget to submit any Ventures inquiries.
Have new staff, need a Ventures refresher? Access the Foundational Webinar Series recorded sessions.
