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DossDocs Launches Innovative Early Disclosures in MyPortal

In an exciting development for the real estate industry, DossDocs™, the leading on-demand loan document platform, has recently introduced a new feature called the MyPortal Early Disclosures workflow. This solution, designed primarily for lenders and brokers, allows them to fulfill early disclosure requirements efficiently and at a reduced cost, revolutionizing the way loan documentation is processed.

What is MyPortal Early Disclosures?

The MyPortal Early Disclosures workflow is a standalone service priced at just $99. It enables lenders and brokers to access the necessary early disclosures without the burden of purchasing a full loan document package upfront. This innovation offers a significant advantage, especially for cases where full documentation may not always be needed if a deal falls through.

Currently, California-regulated brokers are required to provide early disclosures within three business days of receiving a completed loan application. Previously, DossDocs clients had to bundle these disclosures as part of the standard $399 Business Purpose loan document set. With the introduction of MyPortal, they can now meet disclosure requirements early while optimizing their costs.

Joffrey Long, President of Southwest Bancorp, highlighted this necessity, stating, "We often need to get early disclosures out before we are ready to order the full loan document set. Being able to order them separately helps keep the loan moving without unnecessary costs."

Key Features of MyPortal Early Disclosures

The DossDocs Early Disclosures solution boasts several innovative features that enhance the efficiency of the loan documentation process:

• - Cost-Effective Solution: While traditional methods might require clients to invest in a full document set, the new early disclosures can be procured for $99. If the transaction progresses to close, users can upgrade seamlessly to the complete document set for only $299.

• - Automated Broker Disclosures: DossDocs is distinguished as the only loan document platform that automates broker disclosures, ensuring that users can generate state-required disclosures through a guided workflow.

• - Smart MLDS Logic: The built-in guidance directs users automatically to the California Mortgage Loan Disclosure Statement (MLDS) forms, helping to auto-populate critical terms, fees, and various disclosures based on the specific loan scenario.

• - Integrated Docusign® Delivery: A crucial advancement in efficiency, this feature allows users to move generated disclosures directly to be signed electronically, sidestepping the cumbersome processes that necessitate downloading or exporting files.

• - User-Friendly Workflow: MyPortal stores all loan data and transaction information, allowing users to return to the same workflow without the inconvenience of re-entering data or restarting the process each time.

Aletha Nelson, Vice President of DossDocs, commented on this new launch, noting, "We prioritize our customers’ needs and continuously seek ways to enhance their lending operations. The MyPortal Early Disclosures feature perfectly exemplifies our commitment to providing tailored, quality solutions."

Availability

DossDocs’ Early Disclosures are now live and accessible on their platform. Interested parties can find more information and explore the solution at DossDocs Early Disclosures.

About DossDocs

DossDocs is renowned for its innovative, cloud-based platform that offers fully compliant loan documentation across all 50 states. Developed by seasoned legal experts in mortgage law, DossDocs simplifies the entire documentation process with advanced on-demand automation designed for today’s lending market. To learn more, visit DossDocs.