Product Settings: How to I customize the review process for each product?

Depending on the complexity of the product and your internal requirements, you can adjust the steps involved and set deadlines on important milestones in the review process for each of your products.  Setting a realistically timed process and customizing the process with only the necessary steps help to optimize the efficiency in your application review process.  Before you start, you may find it helpful to read this article to get an overview of the general workflow. 

1. Select the existing product or add the new product on the System Settings - Products page. 

2. Click on "Review" from the left menu of the product settings page. 
The functions you need to customize the review process are included in the "Process", "Timeline", and "Pre-Underwriting" sections.

3. Below are the key steps you can choose to add or skip in the review process 

• Pre-Underwriting
  Pre-Underwriting is for checking the completeness of the application or adding information that has to be collected or verified by the lending staff (e.g. soft pull credit score, MLA status, etc).  This step may not be necessary for many simple financial products.  To skip it, just uncheck all the items in this section.  
  Click here for an article on how to incorporate and customize the Pre-Underwriting process.
  
  
• Pre-Approval
  Pre-Approval may be necessary for lending process that involves 3rd parties, such as a car dealer.  To skip it, select "No" in the drop down menu next to "Pre-Approve". 
  Click here for an article on how to incorporate and customize the Pre-Approval process
  
  
• Final Review
  Final Review is the review following an extensive initial underwriting process.  Some products or lenders require more than one set of final review for quality control purposes.  You can set the number of final reviews required with the drop down menu next to "Final Reviews".
  For certain simple products, it may not be necessary for any additional review after the initial review.  To skip Final Review, select "0" in the drop down menu next to "Final Reviews". 

4. Set expiration dates to ensure process stays on schedule
In the Timeline section, you can set the number of days when an application and an offer expires.  These deadlines help to ensure your applicants complete an application and respond to your offer in a timely manner.  Happy Mango sends automated email and text alerts when an expiration date is approaching.  When an application has expired, the applicant will need to start or submit an application.  

5. Never forget to click on "Save Changes" at the bottom left of the page to save all your work!