Data-Vision Adds e-Disclosure Process to LoanQuoter

For Immediate Release
Contact: John Dempsey
888-925-8625

MISHAWAKA, IND. – February 25, 2008 – Data-Vision, Inc., a leading pioneer in Internet lending technologies that enable mortgage leaders to quickly and affordably implement e-lending capabilities, is proud to announce the new release of its LoanQuoter™ software. LoanQuoter allows lenders to facilitate the mortgage loan application process through their consumer-facing Web portals. The new LoanQuoter Version 7.02 marks the software’s evolution from a robust online application system to a sophisticated, consumer-based point-of-sale solution.

“LoanQuoter has long been known for its ability to make it easier and faster for loan originators to approve and close loans,” said Randy Schmidt, President of Data-Vision. “The LoanQuoter Version 7.02 release takes that value proposition to the next level, creating an even more efficient origination process and improving customer satisfaction.”

With LoanQuoter v7.02 incorporated into lender Web portals, mortgage loan applicants receive electronic disclosure documents online immediately. Once an online application is completed, LoanQuoter v7.02 uses the information from the loan application and pre-programmed data tables to automatically create and deliver the Truth in Lending Statements, Good Faith Estimates and Servicing Disclosures. Previously, originators generated disclosure documents in their loan origination systems, taking up to three days for the disclosure documents to reach applicants.

The disclosure documents delivery functionality now available in LoanQuoter v7.02 helps originators track their compliance with RESPA requirements by providing an electronic audit trail. When LoanQuoter v7.02 sends the electronic disclosure documents to an applicant, an audit trail is generated along with an electronic date and time stamp. When applicants view the electronic disclosure documents, they are asked to acknowledge that they have received and read the documents. Upon doing so, the applicants’ electronic signatures along with the date and time of acknowledgement are captured electronically as part of the audit trail.

To learn more about LoanQuoter v7.02 please visit www.d-vision.com, or call 888-925-8625.

# # #

Data-Vision, Inc., founded in 1993 and based in Mishawaka, Ind., offers The Path To e-Lending through a comprehensive suite of on-line services that are efficient, secure and easy-to-use. Data-Vision enables mortgage lenders to quickly and affordably bring e-lending solutions to market, complete with leading-edge capabilities including on-line originations, instant decisioning, electronic document delivery and more.   

Data-Vision’s solutions provide the ultimate in flexibility, maximized ROI and advanced on-line functionality. Our on-line services can be customized to meet each lender’s unique requirements, specific lending channels and brand image.  For more information about Data-Vision visit
www.d-vision.com, or call John Dempsey, vice-president of sales, Data-Vision, Inc. at 888.925.8625.