VPC Q4 2024 release notes
Welcome to the latest release notes for LoanPro’s modern lending and credit platform. These notes summarize our most recent releases, organized into sections for important reminders, new features, general platform updates, and changes related to specific credit product types. We update and distribute these notes monthly so you stay informed about the latest developments and improvements to our platform. For more information, visit our knowledge base.
R E L E A S E S
New features
- Auto insurance verification. LoanPro now makes it easier for auto lenders to confirm borrower insurance coverage on loan collateral. When a borrower submits proof of insurance, LoanPro compares the provided information with the insurance company’s records to verify the collateral is insured. This update reduces manual errors and helps ensure compliance.
General updates
- Skip tracing integration performance update. We’ve improved the way borrower data is retrieved in our skip tracing idiCORE integration. Previously, the system looped through data objects individually, making separate requests for each item, which could slow down processing. Now all data objects are requested at the same time, improving efficiency and ensuring you have faster access to the data you need.
- Improved SMS inbound messaging. Our Interactive SMS solution now supports replying to all inbound messages. Previously, auto-replies were limited to compliance-required keywords like HELP, STOP, and START. Now, when a borrower sends a question or other random message, they’ll receive a generic confirmation acknowledging receipt.
- Default payment profiles for logging payments. We’ve added a default payment profile option to our default settings. Now, default payment profiles can be configured for all loans, improving the experience when logging payments. This also ensures payments are not processed without an assigned payment profile. To set a payment profile default navigate to Settings > Defaults > New Transaction > New Payment > Edit > Default Payment Method.
- Dynamic refresh for collector queues. Collector queue now supports both adding and removing accounts based on your custom filters. Previously, the collector queue was only able to dynamically remove accounts.
