The time is now to develop a digital roadmap and strategy. Market share for digital lending has quadrupled over the past eight years. Every phase of home buying/loan refinance process has grown in online activity – giving consumers unprecedented choice and bargaining power. Talkuments is pleased to be the first to introduce multilingual multimedia loan disclosure technology to the mortgage industry.
Talkuments is a white label application. Its look conforms to each individual lenders logo, color scheme and preferences. All content is editable in order to meet individual lender compliance and management requirements and objectives. In addition, Talkuments can be sent by a wholesale lender to a loan applicant in the name of the broker.
For fear of violating limited English proficiency laws (LEP), lenders are cautious to advertise, promote, joint venture or market their services in any language but English. Hiring multilingual LO’s may be problematic because the lender potentially violates LEP laws when their documents don’t support the LO’s spoken language. Talkuments mitigates that risk.
Most borrowers don’t fully understand loan disclosures – too many, too much legalese. LO’s are the primary source of loan information. Do you know what your LO’s say, or fail to say to loan applicants? Are loan applicants treated differently? Talkuments provides standardized and consistent loan information to all loan applicants, in a manner that they prefer and understand.
In addition to loan specific data and education, Talkuments provides tutorials on Credit Management and Budgeting; suitable for first time homeowners or as a refresher for more experienced loan applicants.
Auto notification for possible change in loan program, loan features and/or loan fees and costs. Updated loan data populates Talkuments, including the Loan Estimate, if required.
Talkuments assists LO’s by guiding their borrowers, step by step, through their specific loan and disclosures. In addition, we provide and explain LE’s and CD’s in multiple languages.
Verification and documentation of loan applicant’s receipt of Talkuments along with website tracking of use, status or percentage completion of loan modules and answers to knowledge questions and attestations are stored and exported individually or in batch for legal, audit and compliance purposes.