Introduction
Stakeholder settings let you define how each party—such as borrowers, brokers, investors, and legal entities—interact with loan files. These configurations ensure accurate data, streamlined processes, and better compliance across the system. This overview highlights each stakeholder type to help you understand their role and importance.
Navigating to This Section
Click the Gear icon in the top-right corner to open Settings.
Select Company Settings.
Expand Loan Setup/Origination.
Click Stakeholder Configuration.
Tip: If you cannot access Stakeholder Configuration, ensure you have the necessary permissions or check with your administrator.
Borrowers are the individuals receiving loans. Configuration options let you enable borrower assets, display applicant debts, and activate spousal consent flags to ensure all necessary borrower information is captured accurately.
Brokers serve as intermediaries between borrowers and lenders. You can assign a default broker, define a compliance documents broker, and enter brokerage and license details to streamline broker tracking and ensure compliance.
Tip: Set a frequently used broker as the default to streamline loan processing.
Investors provide funding for loans. Configuration settings let you assign default investors, set payout dates, manage investor fees and taxes, and enable multi-structure arrangements like A/B splits and residual investors.
Tip: If working with a primary investor, setting them as default reduces repetitive data entry.
Lawyers oversee legal compliance during the loan process. You can assign a default lawyer and choose to display the borrower’s lawyer in the loan file to maintain accurate legal documentation.
Tip: Assigning a default lawyer can expedite legal coordination. If legal representation varies, leave this field blank and update it as needed.
Title companies manage property ownership transfers and escrow services. Enabling this stakeholder ensures that title-related data appears in a dedicated section of the loan file.
Appraisers perform property valuations. Activating this stakeholder adds an appraisal section to loan files for accurate property assessments and regulatory compliance.
For transactions involving exempt securities, enabling EMDs allows for proper tracking and documentation of these specialized participants.
FAQs
Do I need to enable all stakeholder categories?
No. Only enable the categories relevant to your business to keep the interface streamlined and focused.
Can I change stakeholder settings later?
Yes. Stakeholder configurations can be updated anytime to reflect new business processes or partnerships.
What happens if a stakeholder role is misconfigured?
Misconfigurations can result in incomplete or inaccurate loan records. Regularly review settings to ensure accuracy.
Need Further Assistance?
For additional support, contact us:
📧 Email: support@mortgageautomator.com
💬 Live Chat: Click the question icon at the top-right corner of your screen.