Trusts are now captured as an applicant for a more uniform approach across lenders who allow this application structure. Trust details required to be entered will vary across different lenders.
Steps to add Trust Applicant
In the ‘Applicants’ tab, click ‘+ Applicant’ button.
2. In ‘Type of applicant’, select ‘Trust’ from dropdown options
3. Enter mandatory trust details
4. Click ‘+ Trustee’ to select trustee from list of applicants on the application.
Note: Only applicants already added to application will display in dropdown
5. Click ‘bin’ icon to delete record, if applicable.
6. Click ‘+ Beneficiary’ to add beneficiary details.
If ‘Other’ selected, enter Beneficiary (Non-loan party) details.
7. Click ‘Done’ button to collapse, ‘pen’ icon to edit if required. Select ‘bin’ icon to delete record, if applicable.
8. Click ‘+Beneficial owner’ button to add beneficial owner for trust
9. Select ‘Beneficial owner’ role and ‘Beneficial Owner’ from dropdown.
If ‘Other’ selected, enter (Non-loan party) details
10. Click ‘Done’ button to collapse, ‘pen’ icon to edit if required. Select ‘bin icon to delete record, if applicable.
