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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
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

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What can LoanCloser do for you?

  • 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