LoanCloser is a patented software system designed for “Automatically Processing Mortgage Transactions”

It streamlines mortgage transactions by allowing financial institutions to maintain contact and control

throughout the mortgage process.

Yes. LoanCloser complies with all state requirements and draws on a database of more than:

> 500 Brokers

> 4000 Solicitors

> 12 Custodians

> 60 Mortgagees

> 14 Registration Agency Firms

Yes. LoanCloser began development in 1997 when a group of lawyers combined with Australia’s largest

private lending institution and external programmers. During the last nine years LoanCloser has had three

distinct phases of operation and more than 200 releases.

There is not another solution like LoanCloser. Traditionally, lenders instruct their lending department

or solicitor to prepare mortgage documents and take the loan to settlement and registration.

Some refer to this area as the “black hole” as lenders have little control or understanding of

the actual mortgage process – what happens once the loan is approved.

By electronically mapping the process LoanCloser for the first time allows lenders to trap data,

automatically calculate fees and produce mortgage documents, map progress, communicate with

fellow users using electronic file notes, account financially, record settlement, record stamping

and registration. All in real time using web services.

There is nothing else that can do this.

Yes. Straight Through Processing (STP) is defined as “an initiative by many financial companies

to streamline transactions by maintaining contact throughout processing”. LoanCloser’s design

and use of .net web services ensures all parties maintain contact in real time thereby removing

redundant operations

Yes. LoanCloser smart client, a Microsoft Windows operating system application,

can be downloaded via email

Yes. You must be given a password and login by the designated administrator.

Yes. LoanCloser uses Microsoft’s .Net Web Services.

LoanCloser is designed for lenders, solicitors or lenders lending department,

brokers and settlement and registration agents and other third party service providers.

LoanCloser can deliver a virtually limitless range of reports from the data embedded

in the system, customised to the needs of the user.

LoanCloser documents are automatically created on the hosts secure web site after

the interface file from the lenders existing loan approval system is accepted into

the LoanCloser system. Broker/solicitor/lender/settlement and registration agents

all have logins. The designated administrator of the LoanCloser system determines

the level of permissions and therefore access to the documents.

LoanCloser automatically notifies all parties connected to the system via email that the documents

are ready to print from the secure web site. The notified party can simply log in and print mortgage

documents as required.

Parties to the system are notified of all designated important steps taken during the process.

These include; when documents are returned, when outstanding conditions are satisfied, when

the lender is ready to settle, when settlement has been booked and when settlement has occurred.

Once up and running, LoanCloser has proven to be robust and reliable.

Telephone and email helpdesk support is available from 9.00 a.m. to 6:00 p.m. AET Monday – Friday

Yes. Comprehensive user training is included with every installation.