Feature Requests

Summary
Enable borrowers to easily request draws through a user-friendly interface. The requests will integrate into LendingWise’s back-end system, where they can be assigned to specific employees and managed through a dedicated draw request pipeline that syncs with the loan’s draw management module.

Description
This feature will streamline the draw request process for borrowers and loan management teams by introducing the following key functionalities:

Borrower Portal Draw Requests
Borrowers can log into their portal and submit draw requests with all necessary details, such as the requested amount, purpose, and supporting documentation (e.g., invoices or proof of progress).

Back-End Pipeline for Draw Requests
A specialized pipeline will be created in the back-end to manage these draw requests. This pipeline will include stages such as:

Request Received
Under Review
Documentation Verification
Approved for Disbursement
Funds Released
Assignment to Specific Employees
Draw requests will be automatically or manually assigned to designated employees, ensuring accountability and efficient processing. Notifications and reminders can be sent to team members for pending requests.

Sync with Loan Draw Management Module
All approved draw details, including status, amount, and notes, will sync seamlessly with the loan’s draw management module for accurate record-keeping and reporting.

Borrower Notifications
Borrowers will receive automated updates on the status of their requests, ensuring transparency and reducing the need for follow-ups.

Benefits

Simplifies the draw request process for borrowers, improving their experience.
Streamlines workflows for lenders by providing a clear pipeline for managing requests.
Enhances transparency and accountability with a structured approval process.
Centralizes draw request data in the loan file for better tracking and reporting.
Reduces manual errors and processing time through automation and real-time updates.