Challenge

Tracking the dates that required disclosures are provided typically requires a user to manually update the Disclosure Tracking tool with the dates that the documents are sent to the borrower.  This can be time consuming and may be missed, which makes the data less reliable.

Solution

The Key Date Automation PowerTool™ automates the population of “Other Tracking” dates in Disclosure Tracking.  Administrators can configure the Tool to link Disclosure Tracking dates to the eFolder disclosure documents.  When the disclosure process uploads the image to the eFolder, the Tool updates the Disclosure Tracking date.

Value

Automating the dates that required disclosures are sent improves data integrity, while simultaneously reducing the time users must spend manually entering disclosure dates when documents are sent.  Compliance reporting and reviews of loans can be completed more efficiently when the dates are reliably automated.