Lightning Docs and Mortgage Automator Announce API Integration

IRVINE, Calif., Nov. 7, 2024 /PRNewswire/ -- Lightning Docs™, the Official Loan Documents of the American Association of Private Lenders®, announces the launch of its Lightning Docs 2.0 platform. This comprehensive development project, which took over a year to complete, empowers clients with successful API connections to enhance and expedite their processes.

Mortgage Automator, a leading Loan Origination System for private lenders, is the first loan origination system to complete its API integration with Lightning Docs 2.0. Mortgage Automator and Lightning Docs previously integrated their software, allowing customers to take their Mortgage Automator data and directly import and map the same data into Lightning Docs to produce their loan documents. This permits their mutual customers to avoid the necessity of double data entry and potentially costly mistakes.

"Lightning Docs 1.0 demonstrated our ability to deliver law firm-quality documents to mortgage lenders online. With 2.0, we have taken significant strides to ensure that our best-in-class documents are more accessible and efficiently produced using cutting-edge technology. We knew we had the best legal product in the market, and now we needed to be able to deliver it more efficiently to provide a modern user experience. With the Mortgage Automator API integration, we have begun fulfilling this promise." said Nema Daghbandan, CEO of Lightning Docs.

Initially developed to serve Geraci LLP, the nation's largest private lending law firm, Lightning Docs was designed to streamline the drafting of document packages for thousands of business-purpose loans across various states. Recognizing the absence of commercially available solutions tailored for private lenders, the attorneys at Geraci LLP created a platform capable of delivering complex high quality business purpose loan document results while mimicking the analytical capabilities of their highly trained legal team.

Commenting on the successful integration and its impact, Joseph Fooks, Founding Partner and Chief Strategy Officer at Mortgage Automator, stated, "Mortgage Automator is committed to providing state-of-the-art end-to-end lending solutions. A core part of our strategy has been to partner with tech-first, industry-leading service providers. Nema and the team at Lightning Docs have been fantastic partners and an amazing group to work with! We receive constant feedback from our clients on how polished and comprehensive the Lightning Docs packages are and also on how easy it is to work with the team. Mortgage Automator is looking forward to our continued partnership as we grow together.

Lightning Docs continues to set the standard as the most advanced legal solution custom-built for private lenders. The platform offers features such as preparing table-funded, white-label, and correspondent loan documents. Users can also effortlessly create remarkably complex loan transactions involving multiple properties, borrowers, guarantors, and lenders across state lines, all within a single transaction.

Lightning Docs 2.0 Key Features:

(1) API. Lightning Docs 2.0 permits the use of true API technologies, allowing users to never need to leave their loan origination systems (proprietary or commercially available); with the click of a button, users can produce loan documents. System integrations include Salesforce, Encompass, The Mortgage Office, LendingWise, Liquid Logics, Mortgage Automator, and Elphi.
(2) Customizable Loan Product Templates: Ability to set up unlimited defaulted loan scenarios at the user level, for example, a fix and flip loan and a DSCR loan template where users can default the answers to questions and show/hide questions. Now, users can create unlimited loan products in their system, remove keystrokes, and reduce the potential for errors.
(3) User-Centric Design: An intuitive, user-friendly interface simplifies navigation and enhances the user experience.
(4) Robust Compliance Engine: First-to-market detailed compliance warnings are provided with every loan, notifying users of potential usury, prepayment penalty restrictions, late charge restrictions, and more.
(5) Access to Full Library of All Features: Direct access for all users to numerous features and customizations to the loan documents, including revolving lines of credit, bridge to perm documentation, numerous holdbacks and reserves specific to private lenders, deferring of origination and broker fees, cannabis-specific loan documents, MERS compliant docs, SNDA's, Intercreditor Agreements, 360/Actual, 365/Actual, and numerous other features.
(6) Audit/Version Control: Individual user accounts, including version audit control, to understand who, what, and when changes occurred in the loan interview. All company users will have access to all company files so employees can edit freely and independently of each other all while maintaining visibility of any changes made.

For more information about our exciting new interface or to schedule a live demonstration of the system, please contact us at [email protected] or visit www.lightningdocs.com

Contact: 
Lightning Docs
90 Discovery
Irvine, CA 92618
(949) 379-2600
[email protected] 

View original content to download multimedia:https://www.prnewswire.com/news-releases/lightning-docs-and-mortgage-automator-announce-api-integration-302296267.html

SOURCE Lightning Docs