Wells Fargo Funding has approved Wolters Kluwer Financial Services' Disclosure Manager solution for use by its correspondent mortgage lenders. Disclosure Manager helps mortgage lenders to automate the entire initial loan disclosure process, from document creation to the secure electronic delivery of documents to borrowers for e-consent or e-signature.
Wells Fargo Funding will accept initial disclosures from correspondent mortgage lenders that were electronically signed by borrowers using Wolters Kluwer Financial Services' Disclosure Manager solution. Correspondent lenders will be able to deliver disclosures to Wells Fargo Funding through Disclosure Manager that meet the organization's regulatory compliance and electronic delivery requirements.
According to Wolters Kluwer Financial Services, lenders utilizing Disclosure Manager can more efficiently comply with regulatory requirements while originating loans faster, reducing operational costs and improving the overall borrower experience. They can significantly lower the number of full-time employees working on the disclosure process and move them to revenue-generating activities instead.
Source: Wolters Kluwer Financial Services