As a result, 401kLoans will enable more third-party administrators (TPAs) to implement the automation of loan origination and documentation more quickly, a news release said. TPAs can also leverage online convenience, process control, and fifty-state compliant documentation, according to the companies.
Through this relationship, 401kLoans will offer its loan origination product to two major user groups, according to the news release:
- TPAs already using the Schwab Retirement Technology (SRT) recordkeeping platform will have access to further automation of the loan process.
- The system also now becomes available to TPAs using the Enveritus web, by Envisage.
Headquartered in St. Cloud, Minnesota, Minnesota, 401kLoans, LLC is a provider of plan loan origination and documentation systems. More information is at www.401kloans.com . More information about Envisage, a software provider for the retirement industry, is at www.enveritus.com .