Lend America implements 100 percent automated paperless platform MortgagePress.comLend America, FHA, paperless platform, Adeel Saeed, Michael Ashley
Lend America, a next generation direct-to-consumer FHA lender,
announced that it has built and implemented an automated paperless
platform for all loan originations and processing that enhances
overall efficiency, regulatory compliance and risk management,
while extending the company's commitment to environmental
stewardship. This strategic initiative was directed by Lend
America's new chief information officer, Adeel Saeed, who is
responsible for managing the technology decisions and architecture
of the Company with a mandate to focus on automation, simplicity
and eco-responsibility.
"Our paperless platform, which brings the entire mortgage
process into a single application, truly positions Lend America as
a leading next generation mortgage company," commented Michael
Ashley, chief business strategist of Lend America. "This fully
automated platform significantly enhances the mortgage process by
intelligently creating, managing, processing, monitoring archiving,
and retrieving all content throughout the lifecycle of a mortgage
from initial contact through the closing of the loan. The tangible
benefits of this platform are numerous and include increased
efficiency, regulatory compliance, risk management, security,
centralized document retention and reduced paper files. All will
help us better serve our clients, increase the company's overall
profitability and have a significant impact on the
environment."
Lend America launched its automated paperless platform in early
February 2009, and today, all of the company's loan originations
from entry into the organization to closing are 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 submits the
documents required for their loan. In addition, the platform allows
borrowers to communicate "real-time" with Lend America's 300-plus
highly trained mortgage specialists and is combined with an
automated fulfillment process tracked at every step for those
without online access. Using a multi-layered SSL encryption
technology, consumer data is always secure and monitored 24/7.
"This initiative aligns with our Y3K loan origination system
standards as it blends innovative, secure consumer Web-centric
technology with comprehensive workflow functionality," said Ashley.
"This paperless system has allowed Lend America to replace linear
document processing with a dynamic production model. Our clients
appreciate the ease and security of accessing their loan documents
online."
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 so they could clearly
understand both the full functionality of the platform and the
business benefits to the organization and environment.
For more information, visit www.LendAmerica.com.
