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OCTOBER 25TH, 2023
ANNOUNCEMENTS
VENTURES
Saving Custom Grid Preferences
Update - Column Ordering has now been added as an item that can be saved in your custom grid configuration!
We are happy to announce a long-time requested feature has been added to Ventures! Users can now save their setting preferences on several main grids throughout their site, so when coming back to the grid at another time, the saved preferences will remain. Previously, when the user left the menu and came back, grids would revert back to the system default settings. Users will be able to save column sorting, column ordering, column show/hide visibility, and pagination values. This enhancement does not include filter settings at this time. For more information on how to set and save your grid preferences, please read KB article Saving your Grid Preferences. Grids with preference saving:
- Loans menu
- Lead menu
- Tasks menu
- Contacts menu
- Companies menu
- Payments menu > Loans
Document Storage Enhancements
You may have noticed a few changing in our Documents menu! The Documents menu has been given a few upgrades:
- Documents menu now has two submenus, Generate and Store. Previously it was one page and had two tabs for Generate and Store.
- The buttons in the Store menu have changed to be an icon. Previously, the buttons had a word and an icon.
- The preview dialog can now be changed to fullscreen. There is a new “Enlarge” button on the preview dialog when you click on the Thumbnail image. Clicking "Enlarge" will give the user more ability to zoom the image without having to scroll as much. Clicking the button again will restore the dialog to its original size.
FlashSpread V2 Updates
- We added a column for the Entity Name in Ventures and placed it next to the Taxpayer column so that users can easily verify the name on the tax document matches the name of the entity on the loan.
- We also enabled the link to FlashSpread for imported documents. Now, users can go back and compare the data in Ventures to the data from FlashSpread for imported documents.
Portfolio Status Dates
We added two new dates to the Portfolio Status Dates section. Lenders will now have these dates available to them on all loan types after the loan has reached Funded status. Lenders that were using custom fields to account for either of these dates may want to consider using these new dates instead.
- Restructured represents the latest date when the loan was modified or restructured to avoid a loan default.
- Refinanced represents the date when the loan was paid off through a refinance.
Loan Note Task Report Parameter Update
In Reports & Letters > Reports > Details Tab > Parameters dropdown the “Loan Note Added By” Parameter has been changed to “Loan Note Task Added By.”
Additionally, the “Loan Note Added On” Parameter has changed to “Loan Note Task Added On.” These changes were made to clearly indicate the parameter can be used to filter for either a Note or a Task.
504 Fee % fields added to Reports
In Reports & Letters > Fields tab > Loan Financing Primary report category, add three new fields found in 504 category records > Financing menu/tab > Debenture records > Closing Fees & Costs tab > Rate column:
- SBA504 Funding Fee %
- SBA504 Processing Fee %
- SBA504 Underwriter Fee %
IMPORTANT: 504 Lenders - CDC Action on Data Requirements for IRS Form 1098
***The CSA requires receipt of this data no later than November 30, 2023 at 11:59PM***
The IRS Form 1098 requires reporting on data fields related to real property. In order to fulfill this requirement, the CSA, at the direction of the SBA, is requesting that the CDCs return the additional data fields to the CSA for all loans funded between December 1, 2022 and November 30, 2023.
Action Items for lenders - The report is due no later than November 30, 2023
- Provide data to the CSA for all loans funded between December 1, 2022 and November 30, 2023 via "Data Requirements for IRS Form 1098" report within Ventures. Review KB article 1098 CSA Reporting (504 Lenders) to access the Video and Handout that include the steps to produce the report in Ventures and send to the CSA.
- Email the report to [email protected]
GATEWAY
Validation added for unique email
A validation was added to the system to check the email address of an additional owner is not being used by another owner on the same application when adding to the ownership grid. An applicant or Lender user will receive an error if they add an additional owner with an email address already associated to another owner. This was done to prevent the Lender from having to update the email address to a different one and resending the invite to new email address, ultimately stalling the application process.
MUST READ - URL Site Domains updated to gatewayportal.com
All client application portals' domain name have changed from apply-plus.com to gatewayportal.com as of 10/11/2023. Any previously generated URL links and email invite links with the old domain will be automatically redirected to your new site through 1/31/2024. This means applicants will still have access to your portal using their existing links from now through January 2024.
ACTION ITEMS:
- Updating Website Links: If you have links to your application portal on your website, they will require updating to the new domain. Your IT or Web Site Administrator can assist with this task.
- Updating browser bookmarks: If you have a saved bookmark of the portal on your web browser, you will need to update it. Your IT or Web Site Administrator can assist with this task.
- Regenerating Product/Referral Links: If you provide links to the portal with product and/or referral assignment to applicants, you will need to regenerate the links to include the new domain. For a refresher on how to generate a portal link, please refer to KB Article Apply+ Custom URL link to assign product and/or user to application.
- Updating Email Notification Templates: If you have incorporated any portal links into your email templates found in Site Settings > Email Templates menu, it will be necessary to revise these templates with the new URL link. For a refresher on how to edit email templates, please refer to KB Article Apply+ Auto-Generated Emails.
