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DATE:
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The SPARK team
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    Release Notes API Application/Intake SBA Underwriting

    SPARK 8.2.2 Release Notes

    DATE:
    AUTHOR: The SPARK team
    TABLE OF CONTENTS:

      The SPARK 8.2.2 release is planned for Saturday, October 4th. This update includes to Guarantor Analysis and improvements to our integration with E-Tran. The maintenance window will occur from 11:00 PM CT on Saturday, October 4th through 9:00 AM CT on Sunday, October 5th.

      What's Changed

      Guarantor Analysis is now Individual Analysis

      • The Guarantor Analysis feature has been renamed to Individual Analysis and updated to provide more flexibility.

      • Lenders can now add any Individual to the analysis, whether or not they are a guarantor on the package.

      • The term 'Guarantor Analysis' has also been updated to 'Individual Analysis' in credit memos.

      SAM Exclusion Search Updates

      • SPARK now treats startup borrowing businesses (entities to be formed without a legal name or Tax ID) as optional in the SAM Exclusion Search. These businesses appear in the optional group and can be marked as N/A.

      • Referral Partners and Referral Partner Companies have been moved to the optional group on the SAM Exclusion Search tab. Lenders can now select N/A for these entities.

      • Our stage change validation has also been updated to properly handle blank or N/A results for these optional entities.

      Withdrawal of E-Tran Applications in SPARK

      • Lenders can now withdraw an In Process E-Tran loan application directly from the E-Tran Application Summary page.

      • With an active E-Tran session, lenders can permanently withdraw an application, which withdraws the application from E-Tran, removes the SBA Application Number, and returns the Package to a pre-submission state so a new E-Tran application can be submitted.

      Link to Knowledge Base Help Article for E-Tran Validation Errors

      • If users encounter E-Tran Application errors, they will now be provided with a direct link to the E-Tran Submission Validation Help Article in our Knowledge Base for guidance.

      • It is best practice to review this documentation before reaching out to SPARK Support for assistance, as common errors and resolution steps are detailed there.

      E-Tran Aged Out Application Handling

      • SPARK now clearly handles E-Tran applications that have aged out after being scored or pre-checked.

      • When an application returns the status 'Aged Out - In Process', the status is displayed on the E-Tran Application Summary page, and lenders are prevented from performing additional status checks or update attempts.

      • An inline warning provides clear guidance and a call-to-action to clear the SBA Application Number, after which the page refreshes and the lender can originate a new loan application.

      E-Tran Collateral Lien Holder Requirement

      • There is a new E-Tran requirement that if SBA holds a prior lien on collateral, an indicator needs to be included on the transmission to E-Tran. 

      • SPARK will send the indicator to SBA if the prior lien holder on collateral record is ‘SBA’ or ‘Small Business Administration.’ 

      Prevent Duplicates When Bulk Classifying Documents

      • When a lender bulk uploads documents to a package, they have the option to classify before returning to the Document List. Historically, SPARK always created new document placeholders for the selected placeholder types. This change will check if that placeholder type exists on the package already. 

      • If the document placeholder is empty, SPARK will create a new placeholder and delete the existing empty placeholder. 

      • If an existing document placeholder has an attached document, SPARK will continue creating a new placeholder. 

      Handling of Franchises when ordering a Lumos PRIME+ Report

      • Our original implementation of ordering Lumos PRIME+ reports relied on the FRUNS number since the SBA Franchise Directory was not available. With the directory now reinstated, all SBA lenders should be documenting SBA Franchise Codes. 

      • The Franchise Yes/No question has been removed from the manual PRIME+ order flow. Franchise status will now come directly from the business record. 

      • In Automation Workflows, the “Require FRUNS Number if Franchise” setting has been removed. A new “Require SBA Number if Franchise” has been added, using the same logic. 

      • When ordering a report: 

        • If a Franchise has an SBA Franchise Number, it will be sent to Lumos. 

        • If a Franchise only has a FRUNS Number available, that will be sent to Lumos. 

        • If a Franchise has neither an SBA Franchise Number or FRUNS Number available, the franchise name will be sent to Lumos. 

      SBA Loan Number in Credit Summary Standard Header section

      SBA Loan Number has been added as an Available Property that can be included in the Credit Summary Standard Header. 

      Referral Partner API Endpoint Updates

      Enhancements have been made to improve how referral partner API users can integrate with SPARK:

      • Referral partner API users can now specify a different referral partner contact, as long as the contact belongs to the same company.

      • If a different contact is passed, the API user will automatically be added as a referral partner team member, ensuring continued access to the package through API calls.

      • A new endpoint has been added that allows API users to list all available referral partner contacts within their company. This ensures the correct contact ID can be used when sending a referral partner through the API (api/v3/referral/contacts).

      What's Been Fixed

      • E-Tran Spousal Relationship Updates: We fixed an issue where SPARK attempted to delete and recreate spousal relationships during application updates. SPARK will now only send new spousal relationships, aligning with E-Tran API support.

      • Ownership Stage Change Validation: We fixed an issue where stage change validation incorrectly required owner history forms even when those forms were not configured or enabled for the product.

      • Referral Partner Agent Synchronization: We fixed an issue where changing the referral partner for a package did not correctly update the corresponding referral partner agent.

      Find Out More

      Stay tuned for the latest features and subscribe to your favorite categories. You can view our product roadmap at any time here.

      If you have any feedback or questions, please reach out to your Customer Success Manager or submit a ticket to the SPARK Support Team.

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