What is Talk’uments?
Talk’uments is a digital tutorial that takes a loan applicant step by step through their specific loan, costs, process and disclosures.
As the first fintech of its kind, Talk’uments provides an automated way to provide transactional clarity to the mortgage loan process. The key is how simple the process is for the borrower to show their level of understanding of their specific loan.
Use Encompass? Talk’uments is integrated into Ellie Mae’s Encompass LOS.
Encompass® is a registered trademark of Ellie Mae, Inc.
English | Vietnamese | Spanish | Korean | Chinese | Tagalog
“Minorities will account for approximately 75% of the new household formations by 2025, some of whom could benefit greatly from using the Talk’uments tutorials – especially in their preferred language. ”
Phil Bracken, Founder and President, America’s Homeowner Alliance*
*The largest homeowner association in the country
Interested in Talk'uments?
- Technology that Addresses Changing USA Demographics (Sales & Business Development)
- For mortgage companies to succeed in the long run, they must respond and reflect the nation’s increasingly diverse population
- Only Available Solution for Limited English Proficiency (LEP) (Sales & Compliance)
- English and Spanish services provided. Expanding to Chinese, Vietnamese, Korean and Tagalog
- A Tool For LO’s to Complete a Consumer’s Digital Loan Experience (The Future is Digital)
- You can’t have a true digital loan experience without a tutorial that takes a loan applicant step by step through their specific loan, costs, process and disclosures
- Business Development, Sales, Compliance
- Frictionless Consumer Experience
- Creates Borrower Comfort, Trust
- Language Technologies (Spanish LE & CD)
- Lower Loan Costs, Higher Productivity
- Highest Form of Regulatory Compliance
- ADA Compliant
- LO Retention and Recruiting Tool
- Better Loan Quality
- Homeowner Education (GSE’s)
Consumers generally don’t understand loan terms, costs and their disclosures en masse. Using each consumer’s specific loan transaction data, we create an interactive multilingual step by step digital loan guide using techniques proven to be effective with how consumers want to receive information. We assist LO’s by leading loan applicants through their specific loan, appealing to different languages, learning preferences, levels of experience and education.
How Our Business Is Done Today—The Mortgage Loan Process
As other industries provide speedy, on-demand and accessible information and transparency, we in the mortgage industry transmit information to consumers through an arduous and opaque process. From loan application through loan settlement, we ask borrowers to read, review and sign up to 150 pages of confusing and legalese-ridden disclosures. It’s widely acknowledged that almost all borrowers are not fully aware of what they are signing and many lack basic knowledge of loan terms and costs.
Mortgage lending is a highly regulated industry. As consumers ask questions, mortgage lenders entrust an unmonitored sales force of loan originators to be the primary educator of loan applicants. Some lenders believe that there is nothing wrong with this process. The system’s not broken, it was built this way. The truth is that a consumer’s lack of understanding, along with an LO’s inherent conflict of interest, is a lender liability. It’s the root of all consumer regulations (think of TRID).
It’s also important to note that at its core, selling isn’t about one party paying another for a product or service; it’s about the mutual transfer of value. A significant driver in the promise of value is making sure loan applicants actually get what they expect.
Talk’uments understands that using multilingual technology to provide a growing diversity of consumers with transactional loan transparency absolutely enhances a lender’s productivity. It reduces regulatory concerns and is also a competitive differentiator for lenders, leading to more loan volume—especially as more and more lending activity migrates online.
How Talk’uments Technology Works
Many borrowers don’t understand loan terms, LE and CD-related fees, and the multiple application and closing disclosures we lenders ask them to read, review, and sign. Talk’uments is the first of its kind. We provide an automated way to provide transactional clarity to the mortgage loan process. By definition, Talk’uments is a multilingual digital home loan guide. Step by step, Talk’uments explains to loan applicants their loan product, related fees, the mortgage process, and application and closing disclosures. We explain loan information in a manner that is preferred and understood by loan applicants—in both English and Spanish—providing a better consumer experience.
Talk’uments is easy to install on a lender’s LOS. There are no manual functions. Everything is automated. Our proprietary plugin captures a loan applicant’s specific loan data and updates are pushed to Talk’uments when data changes in the lender’s LOS. We truly are “plug and play.” Training is minimal and no procedural or process changes are required by lenders to use our system. We are currently integrated with Ellie Mae’s Encompass LOS.