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RoboDocs Features & Benefits |
| Lender Benefits |
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Turnkey web-based document preparation system
- Easy to use - virtually no training required
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Provides lenders with a competitive advantage in the market
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Faster turnaround
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Reduced legal fees
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Integrates with the lender's other software systems
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Assures compliance with current applicable state laws - all fifty states
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Simplifies document review
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Increased document security
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| Legal Counsel Benefits |
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Relieves legal counsel from clerical burden of assembling, distributing and
revising a complex document package
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Law firms no longer have to continually update their library of document forms
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Lender can enter basic information - saving attorney time
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Assures compliance with current applicable state laws - all fifty states
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| Borrower Benefits |
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Improves the borrower's experience by helping to provide a less onerous closing
process
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Shortens closing timeline
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Reduces legal fees
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Enables electronic delivery
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| RoboDocs vs. In-House Document Preparation
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RoboDocs |
In-House |
| Training requirements |
Negligible |
Yes |
| Staffing requirements |
None
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Yes |
| Software/Development costs |
None |
Significant |
| Maintenance, upgrades |
None |
Continuing Costs
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| Scalable - Pay as you need |
Yes |
No |
| Nationwide state law compliance |
Included |
Major undertaking |
| Advanced file format options |
Yes |
Maybe |
| Web Interface |
Yes |
No |
| Lender Data Integration |
Yes |
Maybe |
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| RoboDocs vs. Typical Law Firms |
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RoboDocs |
Typical Law Firms
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| Included Documents |
All Required Closing Documents
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Primary Legal Documents
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| Advanced file format options |
Yes |
No |
| Web Interface |
Yes |
No |
| Lender Data Integration |
Yes |
No |
| Turnaround time |
Next Business Day or faster |
Varies |
| Cost |
$ |
$$$$ |
| Document consistency from state-to-state |
Yes |
No |
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