Is Your Business Prepared for LEP, Limited English Proficiency, to Satisfy Your Lending Compliance?

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Apr 23, 2021, 08:31 ET

TAMPA, Fla., April 23, 2021 /PRNewswire/ -- CIC Credit, a Florida Corporation, has partnered with Talk'uments a leader in LEP solutions. 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.

We Complete the Digital Loan Experience

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The concept of a digital loan transaction revolves around ease of use, transparency, and a more meaningful experience. Millennials, Gen X and Baby Boomers have adopted the digital world. Talkuments gives consumers what surveys say they want: interactive loan information. Talkuments strengthens confidence in the consumer's choice of lender, leading to more loan originations and more closed loans. Sent by lenders to loan applicants, Talkuments is available throughout the entire loan cycle. As loan data changes, so do Talkuments.

Technology that Addresses Changing Demographics

Success is measured by your ability to gather and provide information in a way that makes a loan applicant want to do business with you. For mortgage companies to succeed, they must be responsive and reflective of the nation's increasingly diverse population. Providing multilingual loan information is vital.

"75 percent of household formations will be created by minorities. By 2035, 85% of household formations will be created by minorities." Harvard Joint Center for Housing

"Although Hispanics make up 18% of our population, the group accounted for more than 63% of homeownership growth over the past decade."
Wall Street Journal, August 2019

"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 U.S.

Talk'uments Benefits

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 cannot 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)