Compliance that ‘Walks the Walk’
In the world of loan document automation, it’s not enough to merely talk about compliance; you must walk the walk, and you must do it continuously. At GoDocs, our actions have always echoed louder than our words when it comes to ensuring your loan documents’ compliance. Our commitment isn’t a one-time promise; it’s a consistent practice.
But here’s where it gets interesting, especially for lenders who heavily rely on attorneys to handle their loan documents, including the demanding task of maintaining compliance. This approach can be not only expensive but also incredibly time-consuming, adding significantly to the overall cost. At GoDocs, we believe trust and assurance should be baked into our platform, not billed separately. It’s all included with GoDocs, with no hidden costs or surprises, offering you a more efficient and cost-effective alternative to the traditional attorney-centric approach.
Consider the past 90 days as a testament to our unwavering dedication. While other automation solutions may claim compliance, we invite you to scrutinize their track record. Can they say the same? Are they as compliant right now as GoDocs?
Checklist for Choosing an Automated Doc Prep System
Use this complete checklist to help evaluate and compare different automated loan doc systems for your needs.
A Look at 90 Days of Compliance with GoDocs
With the list below, we provide you with a transparent view of the trust and assurance we’ve built into GoDocs, backed by this extensive list of compliance updates from the past 90 days. The proof is in the actions we’ve taken to secure documents for our customers, in all 50 states, and we’re here to show you firsthand.
- Update of TX collateral language in the General Security Agreement.
- Update of language in the FL mortgage to address recent statutory changes.
- UCC-1 – Update CRE template to the new 2022 form for all states (excluding the states listed in item #4 below).
- UCC-1 – Update CRE templates to custom templates adopted in each of the following states:
- Indiana;
- Nevada;
- New Mexico;
- New York;
- Tennessee;
- Vermont; and
- West Virginia.
- UCC-1 – Update C&I template to the new 2022 form for all states (excluding the states listed in item #6 below).
- UCC-1 – Update C&I templates to custom templates adopted in each of the following states:
- Indiana;
- Nevada;
- New Mexico;
- New York;
- Tennessee;
- Vermont; and
- West Virginia.
- UCC-3 – Update CRE template to the new 2022 form for all states (excluding the states listed in item #8 below).
- UCC-3 – Update CRE templates to custom templates adopted in each of the following states:
- Indiana;
- Nevada;
- New Mexico;
- New York;
- Tennessee;
- Vermont; and
- West Virginia.
- UCC-3 – Update C&I template to the new 2022 form for all states (excluding the states listed in item #10 below).
- UCC-3 – Update C&I templates to custom templates adopted in each of the following states:
- Indiana;
- Nevada;
- New Mexico;
- New York;
- Tennessee;
- Vermont; and
- West Virginia.
- Global change to remove all references to “agricultural” financing in all CRE loan products.
- Global expansion of the late charge options and default rate options to address various changes in the laws of various states (and get ahead of anticipated, future changes) and provide more flexibility to customers.
- Update the Anti-Money Laundering language in the loan agreement for all CRE loan products.
- Patriot Act language updates in the loan agreement for all CRE loan products.
- The addition of a new tooltip for ModDocs that explains the importance of ordering a Recordable Amendment as part of the document package.
- Update and expansion of the Jury Trial Waiver language in the loan agreement, note, and guaranty for all states (excluding CA).
- Update and expansion of the Jury Trial Waiver language in the loan agreement, note, and guaranty for CA.
- The addition of a new feature to require a recordable amendment for ModDocs when the collateral property is in OH.
- The addition of a new tool tip for users when they are required to have a recordable amendment for ModDocs when the collateral property is in OH.
- InvestorDocs – Update to IL mortgage template language for all users to conform to recent changes in the applicable law regarding a homestead waiver.
- ConstructionDocs – Update to PA mortgage template language for all users to conform to recent changes in the applicable lien laws.
- Update to CA collateral language in the General Security Agreement.
- Update to CA judicial reference language in the loan agreement, note, and guaranty.
- ConstructionDocs – Retention provisions update for NM, based on changes in the applicable law.
- Update to IN mortgage language relating to default judgments.
- Update to PA mortgage language relating to confession of judgments.
- Update to NC savings clause provisions along with a new tool tip for customers that addresses the same.
- Expansion of our instructive tooltip on the use of prepayment premiums.
- Update to our waiver of homestead language for the deed of trust/mortgage in all states (excluding IL).
- The addition of a new borrower disclosure in our NH loan document templates.
- Update to our OR template form of DOT to conform to new legal provisions.
- Conforming changes for our C&I collateral descriptions for titled vehicles and specific equipment, and additional refinements to our language relating to tax stamps and garnishment waiver.
Choose GoDocs for constant empowerment.
Your loan documents deserve it.
In the world of loan document automation, compliance isn’t a novelty; it’s a constant commitment. We invite you to reflect on your compliance needs. Are your loan documents as secure as they should be? Do you rely on costly attorney services?
With GoDocs, trust and assurance are built in. These 33 recent updates are proof of our unwavering dedication.
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