PPDocs, Inc. has provided solutions to help lenders overcome regulatory obstacles for years.

Expanding upon our existing service, lender clients will now be able to email a disclosure package to the loan applicant for review. The loan applicant will then be able to consent to receive the disclosures, prove that they are capable of viewing a file in PDF format, and easily electronically sign the disclosures online.

To view a recorded webinar on how to use our new eDisclosure Manager (Now supporting the TILA-RESPA Integrated Disclosures: Loan Estimate and Closing Disclosure), click here: Webinar (Webex Installation Required).

The Challenge

Regulations require the following:

1. Loan applicant(s) must receive early disclosures (in particular, the Loan Estimate) within three (3) “business” days of application and before any fees, other than a reasonable fee to obtain credit history, are collected.

2. A lender must wait seven (7) business days after receipt of the early disclosures by the loan applicant(s) before closing the loan.

3. If, prior to closing, adjustments are made to the loan that change the APR and exceed certain tolerances, the lender must provide new disclosures and wait an additional three (3) business days after receipt of the disclosures by the loan applicant(s) before closing the loan.

The Solution

1. The eDisclosure option notifies loan applicant(s) via email that their disclosures are ready for their review and acceptance.

2. The loan applicant(s) receives their eDisclosures from a secure website by answering three security questions determined by the sender.

3. The loan applicant(s) consents to receiving their disclosures online.

4. The loan applicant(s) reviews their disclosures on the screen, prints them off, or saves them to disk and accepts them with a click of a button.

5. All the while, we track the process, log the activity, and notify the lender of the status of each event as evidence of completion.

Advantages of using our services:

Faster turnaround. Eliminate unnecessary wait times associated with overnight deliveries or couriers.

Our eDisclosures are significantly more affordable than other delivery and tracking options.

The eDisclosure process complies with all requirements of the E-Sign Act, including demonstration of access, consent, receipt, and acceptance. All of which are logged with a time and date stamp for each event.

Works with your existing provider. Use our delivery and tracking for third-party disclosures.

How it Works

The process starts when the Loan Officer uploads the disclosures in PDF format and completes the delivery details and security questions. Tracking is available on our website in real time. The loan applicant(s) will immediately receive an email with a link back to a secure website for them to retrieve their eDisclosures. The loan applicant(s) will need to know the answers to the security questions to continue. The loan applicant(s) will then need to consent to receiving the disclosures electronically. If they do not agree, the Loan Officer will have to physically provide them the disclosures and add additional time to their waiting period. An email notification is sent to the Loan Officer alerting them that a physical copy will need to be provided. If the loan applicant(s) does consent to accept the disclosures electronically, they will need to demonstrate that they have the appropriate software installed (PDF reader) to view the disclosures. They will have to enter an access code that is visible in the PDF document on their screen to continue. Once they have entered the correct code, they will be able to review and sign the disclosures. The loan applicants can withdraw at any time and if they do, an email notification is sent to the Loan Officer alerting them that a physical copy will need to be provided. If the loan applicant signs the disclosures, a notice is sent to the Loan Officer and the process is complete. The Loan Officer will be able to see the timestamp at each step of the way.

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check property address

How to Get Started:

You can sign up for an account online today. There is zero setup time. Select eDisclosure Manager and then select upload package. PPDocs will send a bill to you monthly with an itemized transaction report. For more information, contact Ambra Costner at ambra@ppdocs.com or call (817) 461-5500.

See How We Make It Easy

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