To electronically deliver documents with an electronic signature option to borrowers
BB&T, a financial holding company, has chosen the Secure Lending system from Fiserv to electronically deliver initial disclosures and other pre-closing documents, with an electronic signature option, to borrowers.
Using the Fiserv system will enable BB&T to manage workflow with compliance by tracking and retaining all versions of Real Estate Settlement Procedures Act three day disclosures and other pre-closing documents sent to borrowers.
The Secure Lending system electronically streamlines and manages the sharing of upfront loan disclosures with borrowers. BB&T sends the documents from their loan origination system to the customizable secure e-lending website, where borrowers view, electronically sign, print or download them, according to the company.
Matt White, senior vice president and mortgage technology manager of BB&T, said: In addition to lessening our environmental impact by replacing paper-based methods with electronic procedures, we expect to see cost savings and increased customer satisfaction from borrowers using this quick and convenient process. By working with the automated workflows that we already have in place in our loan origination system, Secure Lending will allow us to respond to our customers faster and easier.