Lend America Goes Paperless

Posted by Orb Staff on February 24, 2009 No Comments
Categories : Residential Mortgage

Lend America, a direct-to-consumer Federal Housing Administration lender, reports that it has built and implemented an automated paperless platform for all loan originations and processing. The move enhances overall efficiency, regulatory compliance and risk management, while extending the company's commitment to environmental stewardship, Lend America says.

‘This fully automated platform significantly enhances the mortgage process by intelligently creating, managing, processing, monitoring, archiving and retrieving all content throughout the life cycle of a mortgage, from initial contact through the closing of the loan," says Michael Ashley, chief business strategist of Lend America.

Lend America launched its automated paperless platform in early February, and all of the company's loan originations – from entry into the organization to closing – are now conducted as a paperless transaction. Utilizing key technologies, this fully integrated collaborative solution allows borrowers to e-sign disclosure documents via a secure portal and/or submit the documents required for their loan.

In addition, the platform allows borrowers to communicate in real time with Lend America's mortgage specialists and is combined with an automated fulfillment process tracked at every step for those without online access. In conjunction with the launch of its automated paperless platform, Lend America developed a two-week mandatory training program for its entire 590-plus employee base.

SOURCE: Lend America

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