IRVINE, Calif., June 16, 2022 /PRNewswire/ — GoDocs, the automation leader in commercial loan document generation has just announced the release of a must-have checklist for anyone considering investing in an automated document preparation system. This handy checklist provides an easy way to comprehensively evaluate different systems and choose the right solution that will help companies achieve their lending and loan processing goals.
There is a lot to consider when choosing an automated loan documentation system that goes well beyond price. While lenders might have a short list of required features, there may be some important components that are unfamiliar. Fortunately, GoDocs is well-versed in the industry and has generated a thorough checklist to make sure that users get a solution with all the features they need and perhaps some they didn’t know they wanted.
While GoDocs is releasing the checklist to the public, it is actually the result of a collaboration among some of the greatest minds in commercial real estate. Over 40 years of experience went into creating the checklist, making it the most trustworthy source available to guide users in making the right decisions for their organization.
Loan documentation can be complicated by the fact that compliance issues are different in all 50 states. Companies that want to provide nationwide services have to contend with a variety of regulations while ensuring that all documents are complete, compliant, and accurate. This can cause delays and drive up legal costs. Fortunately, there are automated systems that have the power to provide compliance across all 50 states, which is just one feature that is addressed in the checklist.
"Compliance is a major issue for commercial lending documents. Any mistakes can cause delays with front-end negotiations and modifications and potentially result in legal proceedings. Companies have to protect themselves while advancing their competitiveness with a strong digital solution. That is why we designed this checklist to help companies find the right fit," said Gary Highland, the founder, and president of GoDocs.
The checklist will also help users consider different pricing structures, technical and customer support, and the onboarding and training process. It is a truly complete checklist that allows users to quickly compare technology providers and see how they measure up.
"When mortgage companies sign expensive long-term contracts with software companies that provide a certain level of automation, but can’t handle complex loans and compliance issues, those extra costs get passed on to the borrower. It is important to engage in due diligence and find solutions that are best for both lenders and borrowers, which is exactly what this checklist is meant to do," said GoDocs CEO Steve Butler.
In a highly competitive and global marketplace, businesses have to adapt to survive. For those who have recognized the importance of the digital transformation and fully embraced it, there is still the challenge of finding the right solutions. GoDocs has made it easier for lenders to evaluate and compare automated loan documentation providers and pinpoint the best solution with a free, comprehensive, and easy-to-understand must-have checklist that available now.
GoDocs, the automation leader in commercial loan document generation, offers a next-generation software platform for banks, credit unions, and private lenders that creates a streamlined process for closing commercial loans. The first and only purely SaaS system for automated loan document generation, GoDocs provides lenders with a pay-as-you-go digital solution that requires no training to use. The company has the #1 NPS customer satisfaction score in the industry and is trusted by industry leading banks as well as community banks, Federal and local credit unions, and private lenders of all sizes. GoDocs is proud to back its solutions with 100% onshore support.
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