New Product Features: Electronic Disclosure Delivery

by Dave Platt, Director of Engineering and Technology

DocuTech’s latest feature, eDisclosure, has been added to the most recent version of ConformX. The eDisclose solution was designed with a focus on keeping end users fully compliant, reducing the overhead costs associated with always having to disclose via traditional mailing, and streamlining the end user experience both for the loan processor and the borrower.

The experience for the loan processor to eDisclose a set of initial disclosure documents is very simple.  Once the Document List screen is reached in ConformX and the initial disclosure documents have been generated for the loan, the end user simply clicks on the eDisclose button. The eDisclose feature will allow the loan processor to enter/edit basic information such as borrower, CC and confirmation email addresses, subject and body for the initial secure email along with the ability to attach multiple documents.  All of the settings are configurable and can be setup to be pre-populated to reduce additional or redundant effort, but also provide for customization on a per loan basis.

When the loan processor is satisfied with the eDisclose configuration they merely click the Send button and the packages are immediately stored for future secure access by the borrower and the appropriate email notifications are sent out. The borrower can then consent to electronic delivery and view their documents online. For all other scenarios where the borrower does not consent to electronic delivery or access their initial disclosures electronically, there is an automated fulfillment process that will periodically check for eDisclose packages that are ready to be fulfilled.  Any candidates for fulfillment will then be processed and sent to fulfillment automatically, then mailed to the borrower within the required RESPA seventy-two hour time period through DocuTech’s disclosure processing center.

Every step along the way has associated email confirmations at the key points in the process if desired. These steps will allow for instant notification of scenarios such as the borrower consenting to electronic delivery, the borrower denying consent to electronic delivery, or the package being successfully fulfilled.  Additionally, DocuTech provides a report that will allow each lender to see all of their eDisclose package history over user definable time periods. These display all pertinent information per package and allow for proof of being in compliance, yet another mechanism for tracking the borrower interaction with their eDisclose package.