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LPS successfully completes year-end mortgage loan processing, on time and without issue

National Mortgage Professional
Feb 12, 2009

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.
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