Advantages of PPDocs Initial Disclosure System:

Near-Immediate Disclosure Document Preperation

The lender simply enters data -- such as the estimated value of that property, and the requested loan amount -- into the PPDocs system from a loan application. The PPDocs system takes that data and propagates it throughout all required loan application documentation, including the initial disclosure statement. This eliminates redundant data entry, and all risk of errors and inconsistencies between loan application and closing.

Improved Clarity for the Borrower

The PPDocs initial disclosure document discloses all loan information when the application is made to give the borrower ample time to read and evaluate the terms and conditions of the loan. The borrower can receive initial disclosures electronically or in a paper document.

Flexibility for Revisions

If the terms and conditions of the loan change, or the lender or borrower needs to reschedule a closing date, the PPDocs initial disclosure system allows the lender to make simple modifications without having to re-enter data multiple times. Where a borrower’s circumstances change after creation of the initial disclosure, the PPDocs system enables additional input to determine the effect of that change on any good faith estimates.

50 State Compliance

PPDocs maintains a full library of documents for all states and geographic territories throughout the country. Our Mortgage Loan Disclosure Matrix directs lenders to select the correct documents and disclosures at the time of the application, regardless of the type of loan or the jurisdiction of the lender, the borrower, or the assets that will secure the loan.

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