Sonar point of sale experience can be customized depending on your company's needs.
If you wish to make these changes please email [email protected]
Features that are turned ON by default
The list below will be part of our out-of-the-box point of sale. If you wish to not have any of these features we can turn them off for you.
Features that are turned OFF by default
The list below includes functionality that can be turned on easily for your company.
Features that are turned on by default in the point-of-sale
Pricing in the POS
Viewing Products
Within the POS there are 3 places that a borrower can see pricing, having pricing turned on in your POS is a great way to keep your borrowers engaged as they complete their applications.
Initial Pricing
This appears right after they complete the initial onboarding questions and before they hit the dashboard
Preliminary Pricing (only applicable for pre-approvals)
After a borrower selects an initial product, this will generate the pre-approval/qualification letter
Final Pricing
this will appear right before `Submit Application`
Rate Lock
Borrowers can request to lock their rate within the POS. This will trigger an email to go to the originator.
Self-Generating Pre-Approvals/PreQual Letters
Through the POS, borrowers can generate a pre-approval/prequal letter on their own, making it even easier for borrowers to get what they need faster!
The letter will automatically be available to be downloaded as soon as the product is selected within `Preliminary Pricing`
Companies that have this feature OFF - Sonar will hide the stage `See available loans` in the funnel
Pulling Soft Credit Automatically
By default, Sonar configured the POS to automatically pull soft credit, this is to help streamline the experience for both the borrower and the originator when the borrower applies.
Once soft credit is pulled, if there are any mortgages on the report - the borrower will be prompted to pair their liabilities later in the POS funnel to the REO.
NOTE: This feature will only work when the company has at least 1 active soft-credit connection. If you have this feature turned on but don't have a credit connection available the borrower will first be prompted for their SSN and then be prompted to select a credit range
Features that are turned OFF by default in the point-of-sale
Home Equity in the POS
Companies that are doing Home Equity loans can now add another option to their POS. When this feature is turned on, companies will see their first question like this
NOTE: HELOC/HELOAN functionality will always be available to access within the LOS
Optional Document Upload
If a company likes to start to collect initial conditions earlier in the POS funnel, this option is available. When this feature is turned ON, borrowers can start to upload documents through our secure portal as soon the borrower reaches "Dashboard"
Preventing Borrowers from Triggering TRID
Companies that are looking to prevent a borrower from completing a full trid application, you can hide certain questions.
Pre-approval / Purchase:
Street Address 1 (for the subject property)
Refinance:
SSN
Sonar will hide the question asking the borrower for their SSN and instead ask the borrower for a credit range
Auto Adverse
This feature will automatically adverse borrowers who come through the POS and have a credit score below a certain amount. When the borrower is adverse they will receive a adverse letter as well.
NOTE: Auto adverse requires a soft-credit connection to be active