1. P O S T A P P R O VA L S O L U T I O N S
WHAT CAN LOANCLOSER DO
“COMPLETING THE LAST MILE”
FOR YOU?
Among technologists, the phrase “completing the last mile” refers to delivering
• PROVIDE LENDERS A SOLUTION AND A
telecommunications services connectivity from the street to the home, which
SERVICE is in fact a greater challenge than delivering services from their source to local
• SAVE TIME AND $$$ markets via long-distance cables. Mortgage settlements are quite similar, in
• SUBSTITUTE MANUAL ELEMENTS that the borrower, having run the lengthy gauntlet of loan origination, still faces
a difficult loan settlement process at the finish line.
WITH ELECTRONIC FUNCTIONALITY
• INVOLVE ALL PARTIES IN THE Further, paper-based mortgage settlements remain the most technologically
SETTLEMENT PROCESS fragmented multiparty transaction in loan origination. Electronic mortgage
settlements require the integration of document preparation, title insurance
• PROVIDE COMPLETE
underwriting (where applicable), loan settlements and funding, quality control,
TRANSAPRENCY document recordation with the Land Registries, Custodianship and other
• ALLOW FOR INTELLIGENT functions. LoanCloser’s Electronic settlement platform technology capabilities
COLLABORATION include loan file imaging, data management, data storage and retrieval
capabilities. The documents may be copies, or they may soon be digitally
• REDUCE YOUR CARBON FOOTPRINT
signed original documents in electronic form.
• INSTANT MORTGAGE DOCUMENTS
• SAME DAY SETTLEMENTS All parties to LoanCloser have customized authority and access levels to
review, execute and print loan and disclosure documents and exchange all of
• COMPLIANT SETTLEMENTS PLATFORM
the data associated with the loan before, during and after the loan is settled.
• COMPREHENSIVE MANAGEMENT This reduces mortgage file errors, reduces time spent at the settlement table,
REPORTING and speeds up registration, loan funding, quality control and Lenders delivery
processes. LoanCloser saves time, phone calls, facsimiles and paper.
SUITE 5, LEVEL 1, 108-120 YOUNG ST FRANKSTON VIC 3199
WWW.LOANCLOSER.COM.AU
Tel 1300 705 933 Fax (03) 9770 1841
E: INFO@LOANCLOSER.COM.AU

2. LoanCloser FlowChart
Branch and Borrower Rep can also
communicate
Lender interfaces
(6 & 7) Bwr rep, Vendor rep & Outgoing Mortgagee communicate to confirm
from front end
settlement arrangements
system to LC
Step 1 Step 6 Step 7
Borrower Vendor Outgoing
Lender Branch Representative Representative Mortgagee
(1) Branch given (4) Solicitor enables (5a) Solicitor enables (5b) Solicitor enables
access to file. borrower's vendor outgoing mortgagee
They can upload representative to representative to to view file. This
application & view & or print view file. This opens enables outgoing
supporting docs. docs. communication mortgagee to advise
Advise Communication between borrower when ready to settle,
settlement regarding document representative and arrange settlement
urgency generation and vendor and provide 'payout
Step 2
Step 3
Step 4
Step 5a
Step 5b
(2) Instruct solicitor return of executed representative to figure'.
documents. Also arrange settlement
(3) Solicitor advise vendors
converse with solicitor or outgoing
branch to bank if refinance
ascertain bwrs
rep & other
information
Panel
Solicitor
Step 8
(8) Registration agent can
Registration
Agent update file to show
settlement effected,
Mortgage stamped and
lodged, and return to panel
solicitor