Northteq Releases Disclosure Direct for Salesforce

Northteq, a provider of Salesforce loan origination solutions, released its new commercial lending disclosure application, Disclosure Direct for Salesforce. It is now available for commercial and equipment finance lenders.

Powered and built within Salesforce, Disclosure Direct was designed for lenders doing business in states that recently enacted laws surrounding the content and delivery of commercial lending disclosures. Utilizing lenders’ existing Salesforce workflows allows for effortless, automated disclosure document generation.

Starting on Dec. 9, commercial lenders doing business in California will be required to send out commercial lending disclosures to their customers. Disclosure Direct is an extension of lenders’ existing Salesforce workflows.

California updated its commercial disclosure laws for closer alignment with traditional financial disclosures received by consumers. Northteq is prepared to add additional functionality and coverage to Disclosure Direct.

“When we heard about the complexity surrounding the new lending disclosure requirements, we knew we needed to react quickly. Northteq’s ability to pivot with our customers’ priorities has always been one of our greatest strengths. Our agility allowed us to assemble a team and rapidly create a Salesforce integrated solution for a problem faced by so many lenders,” Kristian Dolan, founder and CEO at Northteq, said. “We were able to quickly bring this app to life and are excited to add it to our lineup of over 25 Salesforce loan origination solutions.”

Lenders will be required to send new disclosure documents to customers in California starting Dec. 9. Commercial and equipment finance companies should consider how credit, compliance, and legal workflows may need to be adjusted to accommodate the new regulations. The law affects lenders directly, but the partners, vendors and brokers they work with.

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