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Run Credit with Co-Applicant

Run Credit with Co-Applicant

Owned by Sarah Jane Salvatierra
Last updated: Oct 22, 2024
3 min read

The following video can be shared with installers/reps who need assistance running credit with a co-applicant

https://vimeo.com/1019979568/ce1ddf1575

As part of our enhanced fraud prevention efforts, effective July 8, 2024 we require both co-applicants to be on the title for the home. Additionally, both co-applicants must be on the credit application, however, only one co-applicant needs to pass the credit check. 
Starting July 31, 2024 we will require unique email addresses for co-applicants. If an applicant and co-applicant attempt to use the same email address, the credit application submission will be blocked. Additionally, credit applications will be blocked if a signer’s email address is the same as the email address of any registered EverBright platform user.

Background: Some installers/sales representatives failed to add a co-applicant when running credit. If they need to add a co-applicant to a solar financing workflow already in progress, follow the instructions below to complete the process.

Step 1: Access the Contact Phase

  1. Log into the platform and open the specific project workflow for which you want to add the co-applicant.

  2. Navigate to the Contact Phase of the workflow.

Step 2: Add the Co-Applicant as a New Contact

  1. In the top-right corner of the screen, click the “+ New Contact” button.

    • This will open the form to add a new contact.

  2. Enter the co-applicant’s contact information:

    • Full Name

    • Email Address

    • Phone Number

image-20241022-144609.png

  • Important Note: Each applicant (including the co-applicant) must have a unique email address.

Step 3: Move to the Qualification Phase

  1. After adding the co-applicant's contact information, move to the Qualification Phase of the workflow.

Step 4: Cancel the Initial Qualification (If Already Submitted)

  1. If you have already submitted the credit application without a co-signer, you will need to cancel the previous qualification:

    • Click on the "Action" button at the top of the Qualification Phase.

    • Select the "Cancel Run Pre-Qual" option from the dropdown.

image-20241022-145148.png

Step 5: Start the New Qualification Process

  1. Once the previous qualification is canceled, start the new qualification process by:

    • Clicking on the “Action” button again.

    • Select the “Run Pre-Qual” option.

Step 6: Enter Applicant Information

  1. The name of the property owner may automatically populate in the name field. Double-check this information for accuracy.

  2. Fill out the credit application with the primary applicant’s details as you normally would (address, income, etc.).

Step 7: Add Co-Applicant Information

  1. Scroll to the bottom of the credit application form.

  2. Toggle the “Applying with a Co-Applicant” switch to "on."

    • This will open fields to enter the co-applicant’s information.

  3. Enter the co-applicant’s details, including:

    • Name

    • Email address (must be unique)

    • Social Security Number (SSN)

  1. Both the primary applicant and the co-applicant must be listed on the home title for the application to proceed.

Step 8: Submit the Application

  1. Once all the information for both the primary applicant and co-applicant is filled out, submit the credit application.

  2. The system will process the information, and once approved, both applicants will be included in the financing arrangement.

Step 9: Add Both Applicants to the Agreement

  1. After the credit application is approved, proceed to the Contract Phase of the workflow.

  2. Ensure that both the primary applicant and co-applicant are added as signees to the contract:

    • Open the contract details.

    • Add both the primary applicant and the co-applicant as signees.

    • Ensure both parties use their unique email addresses to sign the agreement.