We have added a new field: Note Date. This field represents the date of the loan note.

• The field will appear in the Important Dates area of the Loan General screen when the loan is in Approved status
  
  

• The Note Date field is required when the loan is in Funded status. When you are changing a loan's status to Funded, you will be asked to enter the Note Date.
  
  

• Loans that were already in Funded status will automatically have their Note Date field populated with data from the Closing Note Date field in the Loan Log.
  • If you renamed the Closing Note Date field for your Loan Log, that won't effect the accuracy of the new field. The system will pull the date correctly if your Loan Log date had Closing Note Date assigned as a "Well Known Field" or "Standard Field".
  • If the Closing Note Date field is empty, Funded Date will be used to fill in the new field instead.

• The Well Known Field / Standard Field "Closing Note Date" has been removed from the Loan Log as a dropdown option to assign a custom date field. Lenders can now capture the data in the new Note Date field.

• If you use custom web templates with your own custom note date field, make sure you review your templates to determine if your date field should be updated to map to the new Note Date field.

• System documents that will now use the new Closing Note field for merging:

  • Form 1506 Section 3
  • Merge Field used in 80 system web templates, see attached file for the full list
  • WORD Template - SBA Form 601 Agreement of Compliance