Changes and redisclosure
Every change, accurately disclosed.
Loans change, and disclosures need to keep up. The Redisclosure Bot handles revised Loan Estimates and Closing Disclosures from the change to delivery, keeping every loan accurate and compliant.
Talk to usWhat the Redisclosure Bot does.
It monitors your pipeline for changes that need a redisclosure.
It confirms each change is valid and checks it against your procedures and compliance requirements.
It records the change accurately in the file, so the revised disclosure is correct and compliant.
It sends the revised Loan Estimate or Closing Disclosure, following your procedures.
Exceptions go to your team.
In detail
What the Redisclosure Bot checks on every file.
- Every change after the first disclosure, from a rate lock to a new loan amount, product or fee, and whether it calls for a revised disclosure.
- The changed-circumstance reason, matched to the reason codes you set up with us.
- The fees affected by the change, against the supporting documents, so the revised disclosure is right the first time.
- Tolerance against the last disclosure, so a cure is caught before it's owed.
- The redisclosure deadline, counted from the day the change was known.
What your team will notice.
Changes caught early.
It checks every file for changes, so fewer slip past.
Redisclosures on time.
Each revised disclosure is tracked until the borrower has it.
Fewer tolerance surprises.
Every fee change is checked against the last disclosure, so a cure doesn't come as a surprise at closing.
A record of everything it did on every file.
Every action is in the audit log, so your team and your auditors can see what the Bot did and why.
Set up to your procedures.
Your procedures
Set up to the way your team works, inside your LOS.
Quality monitoring
Silverwork monitors quality for you, every day.
Adoption reports
Your managers see how much of the job the Bot is completing and where the team still steps in.
Fine-tuned after go-live
Improvement doesn't stop at go-live. We keep refining the Bot so it handles more and more of your files.
Every role
Bots for the rest of the loan.
The Redisclosure Bot covers changes and redisclosure. Each of our other persona-based Bots takes on another role in the loan.