The Next-Gen Closing Doc Workflow
IRVINE, Calif., Nov. 30, 2022 /PRNewswire/ -- Today, GoDocs, the automation leader in commercial loan document generation, released their comprehensive commercial lending white paper "Synchronizing Doc Gen Automation and the Attorney Relationship," which provides a detailed look at why automation is the future of loan documentation and how this technology can add value to existing attorney relationships, creating a next-generation workflow.
Automation is quickly becoming the new standard in loan documentation. This technology allows lenders to reduce the cost of attorney fees, eliminate errors, ensure compliance, and expedite loans at a larger volume. It is a necessary tool for any institution that wants to remain competitive, but there seems to be a misconception that attorneys and automation aren't compatible. This white paper clarifies exactly how companies can leverage technology and strengthen existing attorney resources in a synchronized relationship.
"The CRE market is adjusting, and volume is down for most lenders. This makes now the perfect time to incorporate automation in the documentation process," says GoDocs CEO Steve Butler. "Automated loan doc generation is a straightforward way to reduce costs and increase profitability. It is important to remember that automation doesn't render attorneys redundant. Instead, it adds value and allows for an all-new workflow."
This latest white paper from GoDocs outlines exactly what lenders should be looking for in the right automation solution and how it can be used to support attorneys. CRE loan documentation can be complex, but automation helps to create a frictionless process that reduces costs, eliminates human errors, reduces the need for negotiations, and much more all while providing compliance across all 50 states.
While this technology is helping lenders to significantly increase loan volume, attorneys will continue to be another valuable resource in the documentation process. They provide an added layer of security and protection. The key is to utilize all available resources and create a more streamlined workflow.
It only makes sense that lenders want to maintain their long-standing relationships with highly skilled attorneys. Automation and attorneys aren't mutually exclusive, a point which is made clear in this extensive white paper that exhaustively covers a full range of different considerations that lenders need to take into account when moving the company forward. A next-generation workflow that includes a synchronized relationship between technology and attorneys is not only a possibility, it is the future of loan documentation.
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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