Yes, if an online note is programmed in CU*BASE, it will be presented to and signed digitally prior to the loan funding. If the member cancels out and does not sign the form, the loan will not be created. Instead, the system will submit a loan application to be worked in the LOS Loan Queue (Tool #2).
Deposit Secured loans do require special loan forms specifically coded for this type of offer. Your standard loan forms cannot be used with this feature without the special coding.
f you are anxious to get going and use this feature, however, the form is not required to use the feature. Deposit Secured loans have the flexibility to allow you to move forward without a required form (for example, while your form is programmed by Lender*VP forms). If you select this option, you will just need to work into your credit union policies and procedures steps to ensure appropriate promissory notes or other forms are signed and returned by the member.