Enterprise Loan Solutions, Inc. (ELS) is a digital platform that supports the operation of a computerized loan origination (“CLO”) systems. A CLO is a system used by or on behalf of a consumer to facilitate a consumers choice among alternative products or settlement service providers when purchasing a residential property.

 

The ELS system (1) may provide consumers with information concerning estimated product or service fees and charges (2) may provide consumers with an opportunity to select ancillary settlement services after the consumer has indicated an intent to proceed with a lender providing origination, processing, underwriting and funding services in connection with a loan secured by real property, and (3) may provide an automated funding decision through the use of computer generated, time-stamped audit trails to validate the creation, modification or deletion of electronic records.

 

The ELS system is designed to provide electronic signatures and electronic records in compliance with the E-SIGN ACT, UETA, and the applicable in-person electronic and remote online notarization state law.