Use the DocuNECT for Loan Servicing solution to securely manage and process your business and loan documents, whether you want them verified as part of a transaction, servicing the loan, or vaulting loans.

Loan Verification

DocuNECT’s powerful document verification solution can verify loans as part of a securitization to ensure that that key data matches the information reported to the trustee. This verification is crucial to maintain accuracy and integrity of the data in the securitization process.

Features

• Secure File Upload – Loan documents can be retrieved directly from your eSignature provider, our secure upload tools, secure FTP, eOriginal or via our API.
• Document Classification – The system can automatically identify document types and uses this information to determine the most efficient data extraction method.
• Data Extraction – The system utilizes the DocuNECT® Discovery technology to automatically extract data from the loan documents. All data extracted is linked to the location in the document it was discovered.
• Data Verification – Business rules are defined to automatically validate and verify the data against the data tape. Optionally, the solution can check for missing document type and missing signatures.
• Diligence Workflow and Reporting – Exceptions found in the verification process can either be presented as a report, or in a workflow to help facilitate the resolution.

Benefits

• 100% Automated Loan Review – The solution verifies every loan document and does not rely on a sampling plan that may miss critical issues.
• Exception Management – If any exceptions are found a workflow task is created and they are reviewed by a specialist.
• Fast Turnaround – Significant focus on an efficient process and the separation of the verification and certification allows for a very fast turnaround once certification is needed.
• Process Transparency – Customers can log in at any time and monitor the process via the Verification dashboard. Customers can optionally receive notifications of progress.
• Verification Drill Down – Customers can drill down and analyze the results down to the loan level, and are able to review audit trails, extracted data and documents.
• Performance – Hosted on scalable architecture, the Verification can respond to meet the needs of your business.

Loan eVault

The management of high value digital documents or system records consisting of chattel paper can be daunting especially if those records will be used in the secondary markets. Portford has partnered with WSFS Bank and Vervent to develop a cost-effective eVault solution for these types of digital transactions and is compliant with the requirements described in Part 6 of Article 9 of the Delaware UCC.

Features

• Integration with eSignature Platforms – The platform allows seamless integration with eSignature platforms and is currently integrated with DocuSign and S-DOCS.
• Single Authoritative Copy Processing (SAC) – eVault checks for duplicates, document integrity, assignee, and electronic signatures.
• Unique Control Number Allocation – Each document is provided a unique control number that is associated with the asset package.
• Vault Transfers – Intuitive dashboard guides the user through the vault transfer approval process and includes tools to ensure that the assets required for the transfer are available and automatically notifies of all parties once the transaction is complete.
• Copy Requests – Easy to use process to request watermarked copies of assets that are automatically posted to a secure location for download by the customer.
• Asset Removal – Intuitive dashboard guides the user through the asset removal process.
• Evidence of Control – All actions related to the Single Authoritative Copy are recorded in an immutable Control System Activity Log.
• Document Searching and Retention Rules – Highly advanced searching tools including attribute, full text, and advanced searching within or over all the vaults you own. Document retention rules can be configured based on customer policies.
• Role Based Security – Highly flexible role-based security to ensure that the Single Authoritative Copy is secure at all times.
• Verification of Data and Documents – The Loan Verification module can be combined to automate verification of data elements against a data tape using highly sophisticated text extraction tools. Daily automated verifications are easily configured, and certifications can be completed in hours.

Benefits

• Scalability – Streamlined and automated processes ready to support your growth.
• Security – The platform is hosted in Microsoft Azure which provides unrivalled security and growth capacity.
• Compliance – SOC 2 Type 2 certified and the solution underwent a complete legal review by industry experts.
• Transparency – World class communication and searching tools mean that you are provide the latest and most accurate information on transactions.
• Performance – Hosted on scalable architecture, the eVault can respond to meet the needs of your business.
• Functionality – Powered by DocuNECT’s powerful architecture, making sure you will have all the functionality you need.

Business and Loan Servicing Support

Secure document management in loan servicing is crucial for streamlining operations, boosting efficiency, and ensuring compliance. It involves organizing and maintaining borrowers’ financial and reporting documents, which is essential for effective loan monitoring. Utilize the DocuNECT Lifecycle component to bulk import/migrate, capture and organize loan and other business documents.