Once again, you asked and Lendbuzz answered: On June 17th, your Lendbuzz portal is being updated to make it easier than ever to identify and address out-of-policy deals before you request a contract.
These new portal workflow enhancements include:
- Accurate Deal Status & Guidance: See when a deal is out of policy along with a detailed explanation for what needs to be fixed.
- Simplified Deal Fixing: Edit policy-related fields like Loan Term on the Deal Structure page.
- Integrated Contract Requests: Once a deal is in policy, you can request the contract or Express Contract directly from the same deal structure page.
In your Dealer Portal’s Application List, you’ll now see a “Fix Deal Structure” button for any deals that are out of policy, once the customer has connected their bank, completed income verification, and uploaded their ID.
Clicking it takes you to the Deal Structure page, where a clear red banner lets you know the deal is out of policy. You can click "View Details" as well.
You'll now see a more detailed explanation of what needs addressing—like Loan Term, Net Financed, or Net Check—so you know what to fix, in addition to some existing indicators such as PTI.
Once the deal meets policy requirements, you'll see a green "In Policy" banner and a reminder to "Update Callback". Once updated, you can request the contract directly from the Deal Structure page (this includes deals that qualify for Express Contract.)
FAQs
Q. My deal is already granted an exception, but it's still showing as "Fix Deal Structure". Can I request a contract in Dealer Portal?
A. Yes! Even if the deal is out of policy, you can still go to the Deal Structure page and request the contract directly, as long as an exception has been granted.
Q. How do I know what part of the deal is out of policy?
A. You'll see a red banner with a "Details" link to click on and learn what exactly is out of policy. You will also see indicators in red and learn how to bring the deal back to policy.
Q. What happens after I fix the deal?
A. You'll see a green "In Policy" banner, once you click "Update Callback", you will see the "Request Contract," or "Express Contract" button, making it easy to move forward immediately.
To learn more about how to get the most from Lendbuzz Express Contract, download the PDF below
Please reach out to your Lendbuzz Account Manager with any questions.
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