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VENTURES
SBA Lenders - Non-Citizen ETRAN Error Workflow Update
In order to accommodate an SBA request regarding citizenship validations, Ventures has made a modification to the SBA application submission workflow. If an existing application is updated and the non-citizen validation error returns, we will flag the application and not allow it to be updated from Ventures moving forward. You will see messaging to go to CAFS to complete data and submit your application. You will still be able to Check Status or upload documents from Ventures. This applies to applications submitted ON or AFTER April 24th. Applications submitted PRIOR to April 24th, make sure you follow the instructions in the KB to ensure you successfully submit your application. You can find our KB with instructions HERE for more information.
SBA LENDERS - Question 5 of 1244 and Question 6 of 1919 Are Now Selectable
Question 5 of the Borrower Information Form on the 1244 for 504 Loans and Question 6 of the Borrower Information Form on the 1919 for 7(a) loans are now opened up to choose the answer. Our previous automated logic chose the answer for you but excluded some valid cases. If you do not select an option, we'll send ETRAN "No" (just like how many of the other questions work). You now have the control to choose when "Yes" should be selected.
Credit Decision Values Added to Reporting
Values from the new Credit Decision page have been added to reporting. Information from the latest Primary Application or Post-Origination Change credit decision are available to choose from in individual lists.
GATEWAY
Restrictions added when Changing Product
In anticipation of transitioning the Gateway platform into Ventures, we are working on buttoning up some business logic workflow. Lenders can now only use the “Change Product” action when the Gateway application is in Open, Submitted, or Additional Information Needed status. The Lender will not be able to “Change Product” when the Gateway application is in Declined, Withdrawn, or In Review status.
Restrictions added related to application status and when applicant can complete data portion
When Gateway application status changes to Decline (manually by lender or auto-decline after credit check), Withdrawn (manually by lender), or In Review (Manually by lender), all applicants will not be allowed to fill out data portion of application (Complete Application button from Summary UI).
