DUBLIN, Calif. - E-Loan Inc. announced on Monday that it had upgraded its automated underwriting systems to enable a roughly two-minute-long loan application process.

The new system also allows online disclosure deliveries and immediate electronic delivery of loans to the secondary market, the company said.

Disclosures required by state and federal laws can also be processed electronically now for most borrowers, the officials added, and E-Loan now posts federally required "decline" letters electronically.

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