FAQ

We would love to schedule a live demo with you. An attorney and a loan processor from our team will walk you through the entire process and answer your questions. Contact us to set up a demo.

No, the system is available online in the cloud and can be accessed from any computer, laptop, or mobile device.

No! We do not charge re-draw fees, so you can edit the same set and export your documents as often as you need without being charged. Per the terms of the licensing agreement, a user may modify the terms of a pre-existing loan in an interview but must initiate a new interview for every new loan file.

Yes. We currently integrate with LOS providers such as Mortgage Automator, The Mortgage Office, Liquid Logics, and LendingWise. We can also build custom integrations. Reach out to your Lightning Docs representative for more information. 

You will be billed at the end of the month for all documents that you generated using our online system. Our team will send over a list of all the files, and you will have the chance to review the list prior to being charged. If you see any files that look like duplicates or errors, this is an opportunity to point them out to the team so you don’t get billed for them.

After signing a license agreement, you can test the system by including the word “test” in the borrower name, lender name, property address, or loan number. We will remove any “test” documents from your billing cycle.

Yes, as long as edits are made without violating the license agreement. We recommend making most changes by updating the interview within the system itself to avoid mistakes.

Yes, our team can custom code interview answers as well as language within the loan documents. Please connect with your Lightning Docs representative for more information.

Cost and turnaround time varies depending on the complexity of the custom coding. Reach out to your Lightning Docs representative to obtain pricing and timing for your specific needs.

We do not sell our loan document sets. However, Lightning Docs may be beneficial for you and your team — here’s why:

  1. Our system is constantly updated to keep current with compliance requirements in different states, so you will always have access to the most up-to-date set of loan documents.
  2. Our online system is extremely user-friendly and only takes about 10 minutes to generate 90+ pages of documents. It sounds like you already have some experience with drafting documents, so you should have no trouble navigating through our portal!
  3. Our Lightning Docs program is significantly cheaper than if we were to draft the documents for you in-house, and the price per loan can decrease depending on how many you draft in a month (Lightning Docs costs a standard $500/loan no matter the terms, while our in house drafting begins at $1,000/loan and will likely increase based on the terms.)
  4. We have hybrid options as well. For example, you can draft the documents yourself using Lightning Docs then have our attorneys review your title reports and entity documents to ensure everything checks out. Choosing this option is still cheaper than having us draft in-house as it costs an additional $350 rather than $1,000.

Unfortunately, no. The system is designed to provide all of a lender’s closing documents and does not produce broker-specific documents.

Two people cannot be working on the same file at the same time, but multiple users can be logged in under the same credentials at the same time.

We can complete an entity and title review for any transaction on Lightning Docs for an additional fee of $350 (pricing may vary depending on the number of entities and whether or not trusts are involved). See below for more details:

Scope:

  1. Review of entity documents to verify signature authority.
  2. Review of entity documents to break down membership interests.
  3. Confirm active status and whether foreign registration has been properly completed
  4. Advise on how to address/resolve any discrepancies or issues upon review of the entity documents
  5. Provide guidance on how to properly complete the Lightning Docs interview so the correct signature block populates
  6. Review of the Preliminary Title Report to advise on which exception items should be deleted (if any).

 

Turn Time:

The standard turnaround time will be the end of the following business day unless a rush is requested.

Lightning Docs can generate loan documents in all 50 states using state-specific disclosures and language. We recommend consulting with the attorneys at Geraci LLP to ensure you know the licensing, usury, and other considerations in the state you wish to lend. 

Unfortunately, no. In order to verify all the information you’ve entered is correct, we would need to review all the same documentation as if we were to draft the documents ourselves in-house. At that point, it makes more sense to have us draft them for you. Click here to contact Geraci Law Firm for a consultation.