What is the Completed Date?
Completed Date is the nCino Incentive Compensation term used to identify when a loan is complete and commission payable. It is a companywide predetermined parameter indicating a loan is commission payable. When a loan reaches this date, compensation is calculated and is no longer considered a pipeline loan.
There are two company parameters used to set your Completed Date:
- Completed Trigger Date: Sets the date we use from your LOS to determine when the loan is commission payable. Typically, this is the closed, disbursed, or funded date.
- For example, if your company's Completed Trigger Date is disbursed, then a loan must have a disbursement date greater than or equal to today to be commission payable and completed (no longer in pipeline).
- Completed Status: This is an optional company parameter that is used only for companies that have an additional loan status or milestone clause a loan must meet to qualify as commission payable. If utilized, a loan is not considered complete until it has reached the Completed Trigger Date and is in a nCino Incentive Compensation completed loan status.
- For example, if your company's Completed Trigger Date is disbursed and has a completed status clause, then a loan must have a disbursement date greater than or equal to today and be in one of the completed statuses to be commission payable and completed.
NOTE: Completed statuses in nCino Incentive Compensation are Funded, Shipped to Investor, Suspended by Investor, Purchase/Settled, and Servicing. Completed Dates vary by company. To find out your company’s Completed Date, contact your payroll administrator. For those with AL5 access, all loans that are color coded green on the Loan Status page are considered as completed.