Lightning Docs

Lightning Docs generates the legal documents for a closing from the data already on the loan file, drafted to the vendor's own templates. Nobody re-types borrower names, vesting or loan terms into a separate system.

What it produces

A closing package. Which pieces you get depends on the product and the loan:

• Promissory notes, including variable-rate mechanics
• Security instruments: deeds of trust and security agreements
• Guaranty agreements: full, limited or springing; individual or entity
• Construction holdback documents
• Prepayment and extension terms
• Settlement statements
• Escrow and title documents
• Supporting forms, such as tax forms and first payment letters

Everything that comes back is filed with the loan's documents.

Setting it up

1. Contract with Lightning Docs directly. The templates and legal work are theirs.
2. A manager enables legal documents, then Lightning Docs, in Platform Settings → Integration Hub.
3. Enter your catalog name: it tells the vendor which document products are yours. Separate multiple catalogs with semicolons. Until it's entered, you can fill in the order form but not submit it.
4. Grant the third-party services permission to the people who will order.

Ordering a document set

1. On the loan file, open 3rd Party Services, go to the legal documents area and choose Lightning Docs.
2. Click Import to pull the current file data into the form: borrower, entity, guarantors, property, terms, title, escrow and fees.
3. Pick your catalog, then the product. The list is read live from the vendor.
4. Check everything, especially names, vesting, entity types and states, then submit.
5. History shows the status; finished documents appear as links and are stored with the loan.

Terms changed after you submitted? Correct the form and click Update Previous Order instead of starting a new one.

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Import overwrites the form

Import pulls the current file over whatever is in the form. Import first, then make any hand adjustments.

Full detail: in LendingWise, open Loan Origination → User Guide → Lightning Docs.