CHICAGO
During the Mortgage Cadence Ascent user conference, Denver-based Mortgage Cadence announced that it now offers its own document preparation services. While still supporting the integrations to DocuTech and VMP forms, the Mortgage Cadence Finale solution is an additional offering that allows lenders the ability to create initial disclosures and closing packages and deliver them securely to the borrower or settlement agent in less than 60 seconds with just the click of a mouse.

Ordering closing packages from other non-supported document preparation services can take as much as 15 minutes to complete – between exporting the LOS data, manually completing the missing fields, generating and delivering the populated forms. The Mortgage Cadence Finale solution has native data links within the Mortgage Cadence lending platform, thus eliminating the need to create a custom interface into a third-party doc prep provider. As a plug-in to Mortgage Cadence, this doc prep solution provides a 100% data transfer into the required forms. There is no exporting of data to a third party or manual completion of missing fields. Handling both initial disclosures and closing packages, the Mortgage Cadence Finale solution has the ability to automatically distribute doc packages to the appropriate parties via the preferred delivery method of the Lender.

Maintaining control of the data and keeping it secure is a key benefit to the Mortgage Cadence Finale solution. "One unique aspect of our doc prep solution is the seamless integration within the system," said Alan Clark, chief legal officer for Mortgage Cadence and manager of the doc prep venture. "All of the necessary calculations take place within Mortgage Cadence, the lender's system of record. The lender doesn't have to maintain an interface to a third-party doc prep provider, and have calculations performed by that third party outside of the lender's LOS."

The extensive Mortgage Cadence Finale library of forms, including Fannie Mae, Freddie Mac, FHA and VA programs, federal and state disclosures and a wide variety of private investor products, are continually updated to accommodate changes in agency guidelines and changes in federal or state legal and compliance rules and regulations. The platform supports doc prep for not only first mortgages, but also second mortgages, HELOC's and reverse mortgages.

The Mortgage Cadence Finale solution also contains a sophisticated delivery platform, through which completed doc packages are created as .PDF files and automatically stored for future retrieval and tracking within Mortgage Cadence. The packages can also be posted to a secure Web site for retrieval based on security rights determined by the Lender.

Secure Web delivery is also available for initial disclosures. Typically a manual mailing process, this can be handled automatically with theMortgage Cadence Finale solution. Initial disclosures are generated, placed on the secured Web site and the borrower is automatically notified of their availability – with instructions for download. Since there is a three day window for those disclosures to be delivered to the applicant, a "tickler" can be configured so that notifications are sent to the processor if the disclosures haven't been accessed within a predefined period of time.


Mortgage Cadence
Mortgage Cadence supplies mortgage lending platforms that enable companies to focus on profitability and superior service. Comprised of comprehensive end-to-end loan origination software at its core, a business rule management system (BRMS), workflow engine, product and pricing functionality, automated underwriting, imaging/electronic document management and document preparation services, the system gives companies the flexibility to readily adapt to industry changes and easily capitalize on new business opportunities. Built on an ever-evolving, SOA-based architecture, consisting of functionality to innovate the mortgage process, and an eye toward the eventual realization of e-Mortgages, Mortgage Cadence provides the last lending platform a company will ever need. To learn more, please visit us on the Web at http://www.mortgagecadence.com.