Equifax Launches Paperless Lending Solution at BAI Retail Delivery Conference

LAS VEGAS – Credit bureau Equifax Inc. introduced a paperless lending solution that allows financial institutions to close loans electronically yesterday at the BAI retail Delivery conference.The system will provide credit unions and banks with access to a new electronic signature and vaulting solution that Equifax has developed with Carleton, Inc. and eOriginal, Inc. The solution provides a complete process for origination, underwriting, closing, managing and selling loans electronically through Equifax's APPRO loan origination platform, a popular online lending system for credit unions.The system integrates APPRO with Carleton's SmartDocs solution and eOriginal's eCore advanced electronic vaulting.Electronic loan documents are created and signed using SmartDocs and an electronic signature pad. Documents are then deposited to the eCore vault, where they are securely maintained and managed. eCore provides approved access to facilitate easy organizing, reviewing and auditing of the loan package and ensures that documents maintain legal compliance.