This is a list of FAQs on the Copy Loan feature. Refer to Copy an Existing Loan to learn more about the feature.
Do borrowers have the ability to edit new applications created using this feature?
Yes. Remember to invite the borrower after creating the application so they can complete it.
What types of loans can be created using the Copy Loan feature?
The following loan types are supported:
- Canada Mortgage
- Personal Loan
- Personal Line of Credit
- Credit Card
- Specialty Vehicle
Note: Only the loan types that are enabled for your institution will be displayed. The user’s role permission must allow for creating new loans.
What information is copied over?
- Borrower information
- Phone number
- Dependent ages
- Schooling years
- Citizenship status
- Co-borrowers (except for Credit Card loans)
- Real Estate Owned
Are there any limitations on which applications can be copied?
Users can copy any loan they have access to within their pipeline.
Is it possible to copy applications that are archived?
Yes, archived applications can be copied with this feature.
Does the copy loans feature trigger TRID?
TRID will not be triggered as the feature does not copy the loan in its entirety.
Will declarations be copied over?
Borrower citizenship status is copied over and as a result, some declarations will be pre-filled.
Does credit get pulled again on copied loans?
No. Credit will not be pulled automatically on copied applications.
Will the Duplicate Loan feature work when starting a new application in the LO Mobile application?
Not at this time. After the application is copied using a desktop, the new loan will be available in both the desktop and mobile versions.
How long does the process take?
The Copy Loan process can take between 2 and 5 seconds to complete. If the process times out or you experience an error, simply try again. If the issue persists, submit a request and we’ll be happy to assist.
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