Frequently Asked Questions
Why did you form eDocs-Express?
We formed eDocs-Express to meet a need by lenders for assistance in formulating policies, procedures and systems in setting up and running commercial lending operations. We perceived this need, especially in the credit union market as more and more credit unions were expressing a desire to move in this direction for the benefit of their members. Joanna Bruno, in working with her credit union clients, had come to the conclusion that there was no easy and affordable way for small and medium sized credit unions to enter this market. Joanna began talking with a number of possible solution providers, none of whom was able to individually deliver a complete solution and ultimately decided that the solution was to bring together a team of providers with expertise and experience in each of the required areas. The end result of this search was the bringing together of the expertise of three independent companies and the formation of eDocs-Express.
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Who founded eDocs-Express?
eDocs-Express is owned by the following companies, through which various services are provided to eDocs-Express clients.
- J.R. Bruno & Associates
- Prescient Software
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What can you tell me about J.R. Bruno & Associates?
J.R. Bruno & Associates makes small business lending easy, affordable, and profitable for lenders and small businesses alike. They are committed to expanding their client's business capabilities by helping lenders with every aspect of the small business loan process. They provide a wide range of consultation and hands-on services.
J.R. Bruno & Associates is an authorized SBA pre-qualification intermediary. they do the legwork to pre-qualify your SBA loans. They are available on an as-needed or ongoing basis to help you control expenses, deliver quality service, and beat the competition.
To learn more, go to the J.R. Bruno & Associates Web Site at www.jrbrunoassoc.com.
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What can you tell me about Prescient Software?
Prescient specializes in the application of software and Internet technologies to real world business operations. These applications include the development, integration and hosting of web sites, business automation software and databases, ASP's and email marketing. Prescient's team members are proud of their reputations as pioneers in affordably solving business needs through PC and Internet software.
Prescient Services include:
- Software Development
- Creative Design Services
- Hosting
- Intranet Products
- Internet Marketing
- Consulting
- Technology Support
To learn more, go to the Prescient Web Site at www.prescientsoftware.com.
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How much does it cost to use your commercial loan documentation services?
We use Laser Pro Lending®, which is a trademarked software product of Harland Financial Solutions, for documenting loans for you. If you are not currently a licensed user of Laser Pro Lending®, our setup fee is $5,000 for most lenders. This fee includes:
- Your Laser Pro Lending® license fee with Harland Financial Solutions
- Setup and hosting of your institution and it users on the eDocs-Express Processing Extranet
- Setup and review of your "Standard Loan Products" for use with Laser Pro
- Setup and testing of remote printing to your loan closing office(s)
- System training and support
In addition to the setup fee, you will be charged a transaction fee for each transaction. Transaction fees are dependent upon the type of transaction, generally ranging from $100 to $300 and depending upon the complexity. Contact us for a current price list and I think you will find we offer you the best and most economic way to either begin or to support a commercial lending operation.
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How does the loan documentation process work?
First, we get you set up and trained on our Processing Extranet and on Laser Pro Lending®. Please see additional information on that subject below.
After we get you set up and ready to go, our processing staff waits to receive notice that you have started a processing job on the Processing Extranet. Here's how it works.
- You the lender, as a pre-authorized User, go online to our Processing Extranet
- You login to the system and select "Create a New Job"
- You select from your institution's pre-set standard loan types and enter a few fields of basic loan information such as the Borrower's Name.
- Next you either fax or attach (upload) your credit memo or a loan detail document
- Then the system automatically notifies our processors that a New Job has been started.
- We then retrieve the uploaded document or fax and begin documenting the loan using Laser Pro Lending®
- When the loan documents are ready, we notify you by automated email that the documents are ready for viewing and/or printing.
[Learn more about our Document Outsourcing Services]
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How else can you help us get started?
We're glad you asked. The answer is lots. In fact we can help you with virtually every step of setting up a new loan department except making the final credit decision. Any even there, we can help you with credit underwriting and financial analysis. Here are some of the services we offer:
- Commercial loan program outsourcing
- SBA Program setup, training and licensing
- Loan and Compliance Review
- Credit Loan Underwriting
- Onsite Assistance
- Workflow Process
- Overflow backup
- Marketing Assistance
- Loan Servicing
- Technology Consulting
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What is an Extranet?
A Extranet" is a network based on web and Internet protocols belonging to an organization that is accessible only by the organization's employees, clients and others with specific authorization. Extranet web sites may look and act like other web sites, but the "firewall" surrounding an Extranet fends off unauthorized access.
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What can you tell me about security on your Processing Extranet?
Our Processing Extranet has been built, maintenance and hosted by Prescient Software who has provided Extranets for several of the country's largest banks. Here is their security policy statement.
Prescient Software Internet Security
Prescient Software recognizes that privacy is a major concern for most people and that many are apprehensive about submitting or sending personal information over the Internet. We consider Internet security to be a top priority. We have implemented rigorous security measures on our Internet systems that are compliant with the most recent developments in secure transaction standards.
At Prescient Software, we believe maintaining the integrity of the software and web sites we deliver are as important as ensuring their availability. We take all necessary and appropriate steps to secure our Internet applications and we take great pride in the security of our Intranet applications. Physical security of our servers, partitioning developer access to the servers, encryption of all remote administration, and software security are all carefully safeguarded to prevent unauthorized access.
Our servers are located at Inflow in NW Portland, one the country's premier Internet data centers, with a record of 100% uptime. Inflow has spent many millions of dollars on its Portland facility, assuring against earthquakes, fire, flood and other natural and human catastrophes. Inflow provides us with a protected and secure environment for our network and computer equipment, including uninterruptible power supplies and backup generators, fire detection, raised floors, HVAC, separate cooling zones, humidity and temperature control and high levels of physical security. They also provide us with a variety of carrier network connections directly to our servers. Inflow's communication strategy routes traffic over multiple paths to maximize our Intranet reliability and redundancy in the event of a single-network failure. You can find out more about Inflow, Inc. at their public web site: www.inflow.com
Prescient's System Administrators and Development team consider server and network security as an integral part of each aspect of development and server administration. A variety of security advisories are routinely monitored, kernels are kept up-to-date, patches are applied, services are monitored and settings are refined. Prescient's technical staff takes great pride in its security expertise and experience. Members of our staff have been involved in the pioneering of online banking and brokerage services since the mid-nineties, and in fact built the first web site for Columbia Funds.
For both administrative access for agents and secure application forms for customers, Prescient uses the strongest encryption available -- The Thawte SuperCert with 128 bit SSL encryption. Thawte is a VeriSign company. Sensitive data that is logged in the database or emailed, is PGP encrypted.
For additional information on security, hosting and privacy, go to Prescient's web site at: www.prescientsoftware.com
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Can you help us set up an SBA Loan Department?
Certainly. We assist you from documentation to the implementation of a full-scale SBA department. Our SBA services include:
- SBA Program Training
- Credit Underwriting
- Financial Statement Analysis
- SBA Loan Documentation
- Workflow Process
- Loan Review
- Marketing Assistance
- SBA Packaging
- Loan Servicing
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What are the benefits of outsourcing our SBA operations?
When you outsource your SBA Department with us, you gain the following advantages.
- Avoid upfront costs of hiring and training
- Receive the benefits of a team of experienced professionals
- Overflow capacity
- Personal consulting
- Technical support
- Years of SBA expertise
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We don't have experienced commercial loan credit officers. What can you do to help?
We can help in a number of ways. First we can help you set up loan program guidelines and eligibility. Then we can help you with marketing programs to your prospective customers. Next we can train you on what information you need from your loan applicants. Then we'll train you on how to evaluate this information. you can even outsource your underwriting and financial statement analysis to us. Then once you decide to make the loan, we can process the loan and provide you with all the required documents. We're there to help you all the way as you get started.
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As a new company how can you possibly provide all these services?
Well first of all, although we're a new company, the companies and the folks behind them that have formed eDocs-Express have been in our industry for longer than we care to admit. J. R. Bruno & Associates have been serving the financial services industry since 1994. Bob Jett and Loren Wilson began pioneering compliance and loan documentation software in 1984. Colby Barron started one of the early Internet Service Provider companies in 1994. It's the experience and capabilities of our people and combined companies that enables us to bundle these services into a complete solution for you.
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What forms do you us to document loans for us?
We use Laser Pro Lending® to document your loans. Laser Pro is a servicemarked software product of Harland Financial Solutions.
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Do we have to have a Laser Pro Lending® License in order for you to process loans for us?
The answer is yes. For new clients, we have set up an arrangement with Harland Financial Services whereby we register you with them as one of our clients. You then execute a basic license agreement with them whereby you agree to abide by our master Laser Pro license agreement and receive the benefit of Laser Pro's warranty program. A part of your initial fee and transaction fees covers your license fees with Harland.
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Why did you decide to use Laser Pro?
There are several reasons. The most important reason is that we think it is the best loan documentation system available at any price. Second, the product was designed to be extremely flexible and to cover virtually every type of loan. Third, the primary individual who led the design, development and maintenance of the product for over 15 years, Bob Jett, now works for eDocs-Express. Fourth, because of our intimate knowledge of this incredibly powerful software, we will be able to utilize the full capabilities of the software to your benefit. And finally, because of our continuing close relationship with the Laser Pro team, we believe we will be able to pass on to you the added value of their professional lending and compliance network.
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If our clients have questions about loan documents, can you help us?
For the most part the answer is yes. Obviously we can't give legal advice to either you or your borrower; but we can train you as to the purpose of any particular document and the its particular provisions. Also we're available to help you with specific questions from you or your customers. In addition, because Mr. Jett wrote or oversaw the development of most of the Laser Pro documents, we have a good sense of the interplay of the various documents and how adding certain documents or additional document provisions may affect the overall document set.
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How do I get started?
You can either call us or email us. We will then have an initial discussion, usually by telephone, for us to better understand your needs and your current resources. Based on that discussion, we'll then send you a formal proposal setting forth suggested services and an estimated implementation schedule. Give us a call!
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