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photo, Dan Welbaum
Fiserv Lending Solutions has added new home-equity lending and commercial lending capabilities to its easyLENDER mortgage, customer and commercial loan origination system, "using dynamic documents vs. static documents," said Dan Welbaum, easyLENDER senior vice president of marketing.
Dynamic documents allow small- to middle-size mortgage market users to change a form and customize it according to product features based on the complexity of the loan and borrower profile. Also, the system automatically selects documents that ensure the loan is in compliance with regulatory requirements.
If in the past it could take lenders or brokers two to six weeks to secure disclosure documents on a home-equity loan, he said. Now, for example, Fiserv provides them the ability "to run the 'wizard' within an application and within minutes," produce documents needed to support the new home-equity loan program all by themselves, thus allowing users to be more competitive...