The Loan Cycle is designed to work with new borrowers opening loans. This allows borrowers and the related parties group to receive the entire set of Loan Cycle letters at appropriate times. However, you can add past borrowers to the Loan Cycle and Mortgage Quest will schedule the appropriate letter based on the close dates. Which letters are scheduled is determined by the Add to Loan Cycle options set in the tools screen. To change these options, select Tools / Options and select the Loan Cycle tab. See Customizing the Loan Cycle for more information.
To add past borrowers to the Loan Cycle:
1. Mortgage Quest determines which Loan Cycle letter is due to print based on the open and close dates.
2. Enter the borrower data and the actual Open date and Close dates.
3. Set the Loan Status to Closed.
4. Click Save.
5. If desired, create the related parties group using the Assign / Contact.
6. Select Add to Loan Cycle from the Loan Cycle list.
7. Mortgage Quest determines which letter is due to print based on the Open and Close dates entered and the Add to Loan Cycle options in the tools screen. See Customizing the Loan Cycle for more information on these options.