LoanDocSolutions Setup Form for New Customers

New Customer Setup

The details we need to get you set up!

LoanDocSolutions New Customer Setup Form

Completing this form is the next step in the easy process of becoming a LoanDocSolutions customer! We are going to ask you to provide a fair amount of information, and some of it you might not know for sure at the moment. Don't worry! You can save your information at any time and come back later to finish. To do so click "Save and Continue Later" at the bottom of this page.

This form collects the settings LoanDocSolutions needs to complete the setup process. Within two business days after submitting this new customer setup form we will notify you that your setup is complete and you are cleared to order loan documents!
New Customer Information
Customer's Exact Legal Name*
Your name*
First Last
Your Title:*
Your Email Address*
Enter Email Confirm Email
Your Phone*
This form collects information that will be used to prepare important legal contracts (loan documents). It is important that these setup options have been reviewed and approved on behalf of the customer by a person or persons having the authority to do so.
Have you obtained all necessary internal approvals to specify the LoanDocSolutions customer and lender settings in this form?*

Person(s) who must approve these settings on behalf of customer:*

We will email the completed form to the person(s) named below for their approval of these settings.

First Name	Last Name	Title	Email

Types of loan transactions for which customer may need documents*
Check all that apply.
- CommercialDocs - commercial real estate loans
- ApartmentDocs - multifamily loans
- InvestorDocs - 1-4 unit business loans
- ModDocs - loan modifications, assumptions and extensions
- CommercialDocs - C&I loans
In what regions does customer lend?*
Check all that apply.
- Nationwide
- West
- Southwest
- Midwest
- Southeast
- Northeast
- Single state in the region selected above
Address for Notices*
Enter the customer's address for notices in the loan documents.
Street Address Address Line 2 City State Zip Code
Add an "Attn:" line to notice address?*
- No
- Yes
Notice Address Attn: Line*
Note Payment Address: should the address for payments in the note be the same as Customer's Address for Notices?*
Address for Note Payments*
Enter the customer's note payments address.
Street Address Unit / Suite Number City State Zip Code
Add an "Attn:" line to note payment address?*
- No
- Yes
Note Payment Address Attn: Line*
Document Return Address: Is the address where recorded documents are to be mailed the same as customer's Address for Notices?*
Document Return Address*
Enter the customer's address where recorded documents should be mailed.
Street Address Unit / Suite Number City State Zip Code
Add an "Attn:" line to document return address?*
- No
- Yes
Document Return Address Attn: Line*
UCC-1 Financing Statements for Secretary of State Filing
All LDS document packages include a fixture filing financing statement as part of the deed of trust or mortgage. This section determines whether the customer will receive a separate UCC-1 Financing Statement for filing with the secretary of state. This may be specified separately by product type.
Include State UCC-1 Financing Statement for CommercialDocs?*
Default = No
- No
- Yes
Include State UCC-1 Financing Statement for ApartmentDocs?*
Default = No
- No
- Yes
Include State UCC-1 Financing Statement for InvestorDocs?*
Default = No
- No
- Yes
Separate Assignment of Leases and Rents
All LDS mortgages and deeds of trust include a comprehensive assignment of leases and rents. While not legally required, some lenders prefer to have a separate assignment of leases and rents prepared and recorded along with the deed of trust or mortgage.
Include Separate Assignment of Leases and Rents for CommercialDocs?*
Default = No
- No
- Yes
Include Separate Assignment of Leases and Rents for ApartmentDocs?*
Default = No
- No
- Yes
Include Separate Assignment of Leases and Rents for InvestorDocs?*
Default = No
- No
- Yes
Separate Environmental Indemnity Agreement
By default, LoanDocSolutions includes comprehensive environmental indemnity provisions in the loan agreement. While not legally required, some lenders prefer to have a separate environmental indemnity agreement prepared rather than including the same provisions in the loan agreement. There is no difference in the covenants themselves, it is a matter of whether to include those covenants in the loan agreement or in a separate document.
Include Separate Environmental Indemnity Agreement for CommercialDocs?*
Default = No
- No
- Yes
Include Separate Environmental Indemnity Agreement for ApartmentDocs?*
Default = No
- No
- Yes
Include Separate Environmental Indemnity Agreement for InvestorDocs?*
Default = No
- No
- Yes
Single Asset Entity Requirement
Lenders often require that the borrowing entity be a "single-asset" entity. That is, the borrowing entity will not own any assets other than the real property that serves as security for the loan. (The single asset entity requirement is not available for individual or family trust borrowers.)
Does customer require the borrower to be a single asset entity (SAE)?*
Reminder: This is not an option for loans to individual or family trust borrowers.
- Ask on a loan-by-loan basis
- Customer always requires borrower to be an SAE
- Customer never requires borrower to be an SAE
- Ask on a loan-by-loan basis (default = require SAE)
- Ask on a loan-by-loan basis (default = do not require SAE)
Cash Collateral Agreement
Lenders sometimes require a cash deposit at the time of loan closing, to be pledged as additional collateral for the loan, and released upon satisfaction of stated conditions. The cash may be from the borrower's own funds or from loan proceeds.
There are many reasons that cash collateral may be requested and utilized. Sometimes the cash is held until certain conditions such as minimum DSCR are met. Cash collateral may also be used as a payment reserve to pay all or a portion of the monthly payments.
With a Cash Collateral Agreement the borrower pays interest on the full loan amount even if loan funds were used to fund the cash collateral deposit.
Show Option to Request Cash Collateral Agreement?*
- Yes
- No
Earnouts
Lenders sometimes structure loans so that a portion of the loan is funded at closing, and the remaining loan funds are held back until stated conditions are satisfied. This is frequently referred to as an "earnout" because the borrower must "earn" the remaining loan funds by satisfying the conditions for the release of the funds.
Conditions vary, but frequently include achievement of a minimum DSCR, entering into a lease, or renewal of an existing lease.
With an earnout, the borrower initially pays interest only on the initial disbursement amount, and interest does not accrue on the holdback amount until it is disbursed.
Show Earnout Option?*
- Yes
- No
Repair Agreement
A Repair Agreement is used when a lender is willing to close a loan even though repairs are required, on the condition that funds are deposited to cover the cost of the repairs.
The Repair Agreement provides that funds will be held until the required repairs are completed.
Upon completion of the repairs the funds are released to the borrower. The funds deposited may come from loan proceeds or the borrower's own funds.
Show Repair Agreement Option?*
- Yes
- No
Side Letter / Undelivered Items Letter
A side letter is used when a lender is willing to close the loan based on the borrower's promise that certain conditions will be satisfied within a certain amount of time after the loan closing.
A side letter may be used, for example, to memorialize the borrower's promise to complete minor repairs. Unlike a Repair Agreement, a side letter agreement does not require that funds be held back or deposited.
An undelivered items letter is very similar to a side letter.
While the distinction may sometimes be blurry, a good way to think about the difference is that a side letter is used when the borrower must DO something, whereas an undelivered items letter is used when the borrower must DELIVER something to the lender.
Show Side Letter and Undelivered Items Letter Option?*
- Yes
- No
Miscellaneous
Does customer offer fixed rate, adjustable rate, or hybrid loans?*
Check all that apply. (A hybrid loan is one that is fixed for a period of years, after which the rate adjusts on a periodic basis.)
- Fixed
- Adjustable
- Hybrid
Is there a limit as to how much the rate can change on any rate change date?*
- Yes
- No
- Sometimes
Does the per-change limit apply to the first rate adjustment on hybrid loans?*
- Yes
- No limit on first adjustment
- A different limit applies (to be discussed)
What interest rate indices does the customer use?*
Check all that apply.
- 6 Month LIBOR
- 1 Year CMT
- 30-Day Average SOFR
- Wall Street Journal Prime (periodic adjustment)
- Wall Street Journal Prime (floating)
- Other (see below)
Other Rate Indices Used by Customer*
Describe any other rate indices used by customer.
Is the adjustable rate rounded?*
Interest rate changes are based on the index in effect:*
This is commonly known as the index "lookback" period.
Interest Accrual Method*
- 30/360 - interest is accrued on the basis of a 360 day year consisting of twelve 30 day months
- Actual/360 - interest is accrued at a daily rate equal to the stated interest rate divided by 360
- Actual/365 - interest is accrued at a daily rate equal to the stated rate divided by 365
- Ask on a loan-by-loan basis
P&I Payment Calculation for Actual/360 Interest Accrual Method*
Most lenders who accrue interest on an Actual/360 basis nevertheless calculate the monthly principal and interest payments based on a 30/360 method.
This results in a slightly lower payment than if the payment is calculated on the Actual/360 effective rate. It also means that a 30-year loan, if held to maturity, would have a balloon payment due at maturity.
A minority of lenders using the Actual/360 accrual method calculate the P&I payment based on the effective rate [(stated rate / 360) * 365].
For lenders who calculate the P&I payment based on the effective rate, LDS has found that different servicing software systems sometimes come up with slightly different payment amounts. Therefore, if you elect to calculate the P&I payment based on the effective rate, LDS will display an estimated payment amount, and the customer will need to enter the actual payment amount calculated by the customer's servicing software. The payment calculated by the customer's servicing software should be within a dollar or two of the LDS estimated payment.
If you are unsure, we are happy to discuss this further.
- Calculate P&I payment based on a 30/360 method
- Calculate P&I payment based on the effective rate (LDS will display an estimated payment amount and customer must enter the exact amount from customer's servicing software system)
Do any of customer's loans include a prepayment premium?*
- Yes
- No
Prepayment Premiums Used by Customer*
- 3-2-1
- 5-4-3-2-1
- 5-5-4-4-3-2-1
- Other declining percentage PPP (describe below)
- Balance of six month's interest
- Balance of one year's interest
- Yield Maintenance (describe below)
- Other PPP not listed above (describe below)
Other Prepayment Premiums*
Describe any other prepayment premiums used by customer.
Declining percentage PPPs over a period of years should be described with the percentages for each year separated by dashes.
Is the borrower allowed to prepay up to a certain amount over a 12 month period (or per calendar year) without incurring a prepayment premium?*
Some lenders allow customers to prepay up to a certain percentage of the outstanding loan balance during each 12 month period (or calendar year) without incurring a prepayment premium.This is typically stated as a percentage of the outstanding principal balance.
- No
- Borrower may prepay up to a certain percentage of the outstanding loan balance during each 12 month period without incurring a prepayment premium (on all loans)
- Borrower may prepay up to a certain percentage of the outstanding loan balance during each 12 month period without incurring a prepayment premium (on some loans)
- Borrower may prepay up to a certain percentage of the outstanding loan balance during each calendar year without incurring a prepayment premium (on all loans)
- Borrower may prepay up to a certain percentage of the outstanding loan balance during each calendar year without incurring a prepayment premium (on some loans)
Prepayment Allowance*
Amount which may be prepaid during 12 month period or per calendar year.
Borrower Recourse Options*
Check all that apply.
Full Recourse
Non-Recourse with Carve-Outs
Percentage Recourse, plus Carve-Outs
Guarantor Recourse Options*
Full Guaranty
Guaranty of Carve-Outs
Limited Percentage Plus Carve-Outs
Are customer's loans assumable?*
Impound (escrow) for taxes?*
Indicate whether customer requires impounds (aka escrow deposits or imposition deposits) for real estate taxes.
Ask on a loan-by-loan basis (no default)
Ask on a loan-by-loan basis (default to Yes)
Ask on a loan-by-loan basis (default to No)
Yes - customer always requires impounds for taxes
No - customer never requires impounds for taxes
Impound (escrow) for insurance premiums?*
Indicate whether customer requires impounds (aka escrow deposits or imposition deposits) for real estate taxes.
Ask on a loan-by-loan basis (no default)
Ask on a loan-by-loan basis (default to Yes)
Ask on a loan-by-loan basis (default to No)
Yes - customer always requires impounds for insurance premiums
No - customer never requires impounds for insurance premiums
Would you like to be reminded before submitting an order with without a guarantor ?*
Most LDS customers require a guarantor when the borrower is an entity (not an individual). If you select Yes below, you will receive a reminder before submitting an order to an entity borrower if no guarantor has been specified.
Yes
No
How many days must a payment be late before a late charge is assessed?*
Late charge as a percent of the payment amount that is late?*
Default Rate*
Default Rate Percentage Increase*
Stated Default Rate*
Returned Item Fee*
Fee for bounced checks or declined ACH payments.
Dollar Amount of Returned Item Fee*
Please enter a number from 5 to 200.
ACH Payments*
Penalty or consequence for failure to make payments by ACH?*
Describe penalty or consequence for borrower not making payment by ACH:*
Annual financial statements due within how many days after the end of borrower's fiscal year?*
Rent Roll Required*
Impose fee for late submittal of required financial reports?*
Financial Statement Late Charge Percent of Monthly Payment Amount*
A late charge for failure to submit financial information required by the loan documents. This is a percent of the monthly payment amount each month until the financial information is received by the lender.
Include a clause in the note providing that accrued interest more than 30 days past due shall be added to the principal balance and thereafter bear interest?*
Include a clause in the note providing that any regularly scheduled P&I payment received by lender before the due date shall be deemed to to have been received on the due date for purposes of interest calculation?
Show option to request an assignment of management agreement?*
Does customer ever make mortgage loans in a second or third lien position?*
Does customer allow a subordinate mortgage?*
Does customer want the option to request mortgage assignment documents?*
Include bar code in document footers?*

Save and Continue Later

New Customer Setup

LoanDocSolutions New Customer Setup Form

New Customer Information

UCC-1 Financing Statements for Secretary of State Filing

Separate Assignment of Leases and Rents

Separate Environmental Indemnity Agreement

Single Asset Entity Requirement

Cash Collateral Agreement

Earnouts

Repair Agreement

Side Letter / Undelivered Items Letter

Miscellaneous