Floify 101 Training

Introduction

This tutorial provides a comprehensive guide to using Floify, a platform designed to help loan officers streamline the loan application process. By following these steps, you will learn how to navigate the Floify interface, add borrowers, and manage loan files effectively, ultimately helping you to close loans faster.

Step 1: Navigate the Floify Dashboard

When you first log into Floify, you will be taken to your homepage. Here's how to familiarize yourself with the key components:

• Loan Pipeline: View all active loan files and initiate new applications.
• Prospects Tab: Access incomplete borrower applications, add new prospects, and manage borrower links.
• Settings: Configure your account settings and manage user access.
• Audit Log: Track document-related activities for collaboration with your team.
• Help Center: Access resources and support options.

Practical Tip

Regularly check the help center for new resources or updates that can enhance your experience with Floify.

Step 2: Add Borrowers to Floify

There are three main methods to get borrowers into Floify:

Method 1: Using Borrower Links

1. Navigate to the Borrower Links tab.
2. Choose from the available links for borrowers to complete their applications:
   • Custom landing page
   • Application with Spanish subtitles
   • Direct application link
3. Send the chosen link to your borrower.

Method 2: Add New Prospect

1. Click on the Add New Prospect button.
2. Fill out the borrower's information, such as name and preferred name.
3. Check the box to delay sending the application link if needed.
4. Click Save Prospect to initiate the application.

Method 3: Start New Loan Flow

1. On the homepage, click Start New Loan Flow.
2. Manually enter the borrower's information without requiring an application.

Common Pitfall

Ensure you verify the contact information to avoid sending applications to incorrect email addresses.

Step 3: Manage Borrower Applications

Once a borrower is added, you will need to guide them through completing their application.

1. Invite Borrower to Application:

   • Once the application is ready, click the clock icon to send an invitation email.
   • Personalize the message if desired.

2. Borrower Experience:

   • Borrowers will receive an email to create a password and access their application.
   • They can review and edit their application as needed.

Practical Tip

Encourage borrowers to check their email for application invitations to avoid delays.

Step 4: Document Collection and Review

After the borrower submits their application, focus on document collection.

1. Automatic Document Requests:

   • Set up your Floify account to trigger specific document requests after application submission based on the loan type.

2. Review Uploaded Documents:

   • Access the Pending bucket to review documents submitted by borrowers.
   • Accept or reject documents based on completeness and accuracy.

How to Accept or Reject Documents

• Click the eyeball icon to view uploaded documents.
• Use the thumbs up or down to accept or reject documents.
• Provide reasons for rejection to assist borrowers in resubmission.

Step 5: Communicate Milestones

1. As you progress through the loan process, check off milestones in Floify to keep borrowers updated.
2. Send notifications through email or text as milestones are completed.

Practical Tip

Regularly updating milestones reduces the need for borrowers to contact you for status updates.

Step 6: Utilize Quick Packs and Custom Requests

1. Use Quick Packs for common document requests based on loan type.
2. For unique document requests, use the One-off Document Request feature to ask for specific documents.

How to Request a Unique Document

• Click the plus sign to add a one-off document request.
• Provide a name and description for clarity.

Conclusion

By following these steps, you can effectively use Floify to manage the loan application process, from initial borrower contact to document collection and milestone tracking. Familiarize yourself with the system’s features to enhance your efficiency and provide a better experience for your borrowers. For any further questions or assistance, don't hesitate to reach out to Floify support.