Online Application
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      Coviance Online Application

      This guide will walk you through the initial setup and testing of the Coviance Online Application.

      Introduction

      This guide will walk you through the initial setup and testing of the Coviance Online Application. The intent of this guide is to provide a high level overview of what to expect when implementing the Coviance Online Application, and therefore prepare you for this process. The Coviance team will be facilitating this process alongside you. 

      Online Application Overview

      Key Components:

      • Online Application: An online home equity application that brings intelligence and simplicity together. A configured URL will be created so the online application can be easily embedded for a lender. 
      • Pricing Table: Pricing engine that is configured upon the lender’s product offerings & rate sheet, so the right product offers are reflected in the application experience.
      • Automated Disclosures: Initial Disclosures (both HELOCs and Fixed End HE’s) are automated to the borrower upon application submission. These disclosures are sent via email for an easy e-sign experience.
      • Soft Credit Pull: A soft credit pull is being done within the application experience to give accurate credit results that lead to a more applicable loan offer. The lender will work with Coviance’s credit provider to set up the soft pull according to the lender’s desires.
      • Leads Dashboard: Allows the lender to manage abandoned and submitted applications.
      • Notifications: Automated notifications for both the borrower and lender throughout the application experience.

      Online Application Setup

      The setup process of the Coviance Online Application will be facilitated by your dedicated Coviance Customer Service Manager (CSM). Below are the high level requirements we will walk through in order to set up and enable the Online Application. This set up and testing process typically takes 4 weeks to complete. 

      1. Receive & execute an Online App Addendum + DocMagic Addendum 
      2. Fill out the Online App Setup Form  (Please make a copy)
      3. Fill out DocMagic Setup Forms 
        1. Coviance New Client Questionnaire
        2. HELOC Questionnaire (if you’re an existing DocMagic user this doc isn’t needed)
      4. The Coviance team will initiate the Soft Credit set up process with the lender and vendor.
      5. The Coviance team will complete the set up and initiate testing with the lender

      Testing 

      Once the online application is set up & enabled, the Coviance team will set up a call with you, the lender. The first goal of testing is to ensure the application experience is working properly (functionality, configuration, and lead dashboard). Secondly, we will test to ensure the automated disclosure package is functioning and populating from the application submission. 


      In order to successfully test the Soft Credit Pull, please use the following borrower information. Testing Credentials for the Soft Credit Pull experience:

      • Borrower Name: Marisol Testcase
      • SS: 000-00-0001
      • DOB: 05/27/1980

      Getting Started with the Online Application

      Below is a visual walk through of the Coviance Online Application:


      Once testing is complete, the Coviance team will work with you, the lender, to generate & supply the LIVE Online Application link so it can be embedded in the necessary location(s). A full training will be provided in tandem to this step. 

      Additional Support & Resources

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      Contact Information

      For any issues or questions, contact your dedicated CSM or our Support team at support@coviance.com.