SPARK 6.5 Release Note Highlights
December 15, 2018
Our release notes cover what’s new, what’s changed, and the bugs that we’ve fixed since our last release of SPARK. As always, we welcome your feedback – support@lendwithspark.com.
What’s New
Additional Document Information Request:
Have you ever wished you could send an applicant a request for one document instead of a brand new Information Request? Now you can! This new feature is a brand new type of Information Request which makes it quick and easy for external SPARK users to upload (or re-upload) documents in SPARK. This Information request allows you to specify a list of documents to request from an external user. For instance, suppose an application was submitted without any financial statements? You can use this documents request to specify that you need three different financial statement documents. Even better, you can submit this request to multiple SPARK users (if necessary) to gather this additional information.
Additionally, let’s say that you need someone to re-upload a copy of a tax return, as the first one contained outdated information; you can do that too! Simply select the document that needs to be re-uploaded and ask the external user to submit it to the loan package.
Homepage Widget Columns:
On your personal Homepage, you can now configure the columns you would like to see. For instance, if you want to include the Referral Partner Contact on your Homepage, you can now make this visible! Customized changes will only apply to your Homepage, enabling you to see the most applicable information for the loan package.
What’s Updated
4506-T Form:
As of January 1, 2019, the updated version of IRS Form 4506-T, “Request for Transcript of Tax Return” was put into effect. To comply with this update, we have posted the updated form (dated September 2018) to the SPARK loan origination platform.
Pre-Screen Memo:
For those of you familiar with the Credit Summary (also known as the Credit Memo) in SPARK, this is a way to gather and present information pertinent to the loan package to an applicant, referral partner, etc. Those organizations who wish to gather and present information prior to the Underwriting Stage may do so using the Pre-Screen Memo feature. Typically, this document functions in the exact same way as the Credit Summary; however, this document may be presented to an applicant earlier in the loan origination process (typically during the Pre-Screen Stage). To use this feature, find the navigation item “Pre-Screen Memo” on your SPARK platform and click Create.
What’s Fixed
Consolidated Financial Analysis on Credit Summary:
Fixed a bug that would prevent the Credit Summary from being generated or displayed when a consolidated financial analysis was included.
Extension of DocuSign Documents:
DocuSign documents that were returned would sometimes lose the extension of the file, which would cause problems with the filename when downloaded or when uploaded to E-Tran. We will now make sure that the PDFs returned from DocuSign have a .pdf extension when it’s returned from DocuSign.
