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401kLoans provides an innovative
ASP technology that delivers loan originations,
approvals, “virtual” documents, integrations,
and archival services.
Our company was founded
to create a proactive solution for recordkeeping
service providers with the following features:
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A loan origination process that accurately
portrays loan terms and disclosures in real
time to the participant when modeling and
completing a loan transaction. |
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A loan origination process designed to meet
state and federal requirements (ERISA, E-Sign,
TIL, ECOA, DOL, and IRS) applicable to plan
loans. |
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A system that easily integrates with recordkeeping
administration software, enabling recordkeeping
service providers to offer ‘true’
paperless loans (sometimes referred to as
noteless loans). |
Further, our software offers
recordkeeping service providers the flexibility
to design a loan process that best suits their
clients (the plan sponsors) and their process.
After an application is submitted, we offer
the approving entity the following options:
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1.
Queue the pending applications and manage
the decision-making at a convenient time. |
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2.
Compare the application and participant
information to configured approval parameters
through business logic and provide a decision
to the participant immediately. |
By integrating our software
with recordkeeping software (or via preferred
middleware solutions), you do not need to add
any hardware or worry about programming costs
of implementing a solution on top of your recordkeeping
process.
Please contact our Corporate
Office for more information.
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