Streamline Loan Origination with Digital Documents and Portals

The loan origination process is filled with friction for your employees and borrowers. From lengthy paper applications to tracking down documents, the process feels antiquated in our digital world and often leaves people frustrated.

A document management system and client portal, however, can quickly transform the clunky time-consuming process into a streamlined digital one.

Download this infographic to learn how.

How Going Digital Benefits Borrowers and Employees

Below, we share ways having a DMS and client portal can help financial institutions remove friction from the lending process. Borrowers get to enjoy simplicity while lenders gain efficiency and compliance.

For Borrowers

Borrowers want to easily apply for and manage loans online. A DMS with a client portal allows borrowers to:

• Complete forms digitally from any device, which is much more convenient than printing, scanning, and faxing paper applications.
• Upload supporting documents like income statements and ID cards 100% online, whether they’re on vacation or at their office.
• Digitally sign agreements through eSignature, removing the need for hardcopy paperwork or in-person appointments.
• Stay updated on application status and see associated documents in one place.

For Lenders

Lenders need to facilitate collaboration between teams and maintain regulatory compliance. A DMS enables lenders to:

• Quickly and securely request documents, forms, eSignatures, and more from borrowers.
• Automatically save all documents and data in a secure centralized system.
• Set permissions so relevant team members are notified when applications are submitted.
• Review applications and documents digitally from anywhere.
• Maintain a timeline view of the process with document audit trails.
• Send update reminders and see application status at a glance with dashboards.

Bringing It All Together

Enable borrowers to go from application to funded in record time, all while keeping sensitive data protected, documents organized, and teams aligned. Ready to learn more? Schedule a demo today to see how SmartVault can transform lending at your institution.