The following tags should be selected when the loan is not on course to close:
1) Lost- The file was lost to a competitor or the customer has chosen not to continue with you
2) Client Put On Hold- A client may be put on hold for a multiple of reasons i.e., medical issues, traveling, waiting for supporting documentation. If the customer needs to age the file due to a bk, foreclosure, recent 30 day late, etc return the file to CIG so we can continue to build their credit and nurture the client until it’s time to return them to you.
3) Back To CIG- A client will be labeled “Back to Cig” if at any point in the file the client will not qualify due to credit issues, debt-to-income issues, no down payment, or any items that their Credit Specialist can work with them month over month to correct.
Final Notes:
Remember that if the file winds up under these tags with specific notes it will allow us to work with the customer to return to you. If DTI is too high we can encourage getting a co-borrower or paying down debt, if credit history is too short we can report years of rental history, if there are negative items that are weighing down scores we can provide fast and effective credit repair.
The better the notes, the more effectively we can send you ready to close deals. You can add notes by clicking on the comment button which will open the activity log and update section.