Smart LOA Terms of Service

Last Updated: [DATE]

1. Introduction and Acceptance

These Terms of Service (“Terms”) govern access to and use of the Smart LOA platform (“Smart LOA,” “we,” “us,” “our”), an AI-powered loan officer assistant tool provided by Smart LOA LLC that automates document collection, classification, missing document identification, and borrower follow-up for mortgage professionals.

By accessing or using Smart LOA, you (“User,” “you,” “your”) agree to be bound by these Terms.

2. Who These Terms Apply To

Smart LOA is designed for use by licensed mortgage loan officers and their support staff (“Users”). Borrowers whose information is submitted through the platform are third-party data subjects under these Terms and the accompanying Privacy Policy.

Borrower Acknowledgment and Consent. Before any document is transmitted or the AI assistant sends any communication, the Borrower will be sent a link to a consent landing page disclosing these Terms, the Privacy Policy, and the AI Use Policy. Only after the Borrower affirmatively agrees on that landing page will the automated document checklist and collection email be triggered.

3. Description of Service

Smart LOA provides:

  • Automated document request generation and borrower communication, via an AI assistant (each loan officer’s assistant has its own name, for example “Lily”)
  • Automated classification of submitted documents against a configurable checklist
  • Automated identification of missing or outstanding documents, with automated follow-up to Borrowers
  • A dashboard for tracking application status and document collection progress

Smart LOA is a document collection and organization tool. The loan officer independently processes the loan and makes all lending-related determinations. The AI does not review Borrower data to make lending, underwriting, or eligibility decisions. The AI performs exactly three functions: extracting data from documents, classifying documents, and responding to borrower emails within set parameters. Each request is processed individually, with no data retained by the AI provider afterward.

AI Disclosure. The AI assistant is an automated system, not a human employee. See our AI Use Policy for full detail on how the AI is used and its limitations.

4. AI-Generated Content Disclaimer

Smart LOA uses artificial intelligence to classify documents, identify missing items, and manage borrower follow-up communication. AI-generated output may contain errors and does not constitute a final underwriting decision, credit determination, legal advice, or a guarantee of loan eligibility. Users are responsible for independently reviewing all AI-generated classifications and flagged items before relying on them in connection with a loan file.

The AI does not review Borrower data to make lending, underwriting, or eligibility decisions. It identifies missing documents and manages borrower follow-up only; the loan officer independently processes the loan.

5. User Responsibilities

Users agree to:

  • Use Smart LOA only for legitimate mortgage origination purposes
  • Maintain the confidentiality of login credentials
  • Independently verify AI-generated classifications and reports before relying on them
  • Comply with all applicable federal and state laws governing mortgage lending, including but not limited to GLBA, ECOA, and HMDA
  • Obtain any necessary Borrower consent for the collection and processing of their information, to the extent required by law

Government Monitoring Information. Smart LOA collects race, ethnicity, and sex data as required under HMDA and ECOA. Borrowers must accept these Terms before this information is transmitted (see Section 2, Borrower Acknowledgment and Consent).

Smart LOA and the User each bear responsibility for consent and disclosures on their own side of the relationship. The User (loan officer) is responsible for their own regulatory obligations as a mortgage professional. Smart LOA is responsible for the Borrower-facing consent mechanism described in Section 2.

6. Data and Privacy

Use of Smart LOA is also governed by our Privacy Policy, which describes how Borrower and User information is collected, used, and protected. By using Smart LOA, Users represent that they have the authority to submit Borrower information to the platform and to authorize its processing as described in the Privacy Policy.

7. Third-Party Services

Smart LOA relies on third-party services to operate, including: Microsoft 365 (email and document storage via OneDrive), Amazon Web Services (application hosting and the database used for application and account data), Amazon Bedrock running Anthropic’s Claude model (AI-powered document classification and communication), and our development team, who maintain administrative access to the platform’s infrastructure as part of providing development and support services. Smart LOA is not responsible for outages, errors, or data handling practices of third-party services outside our reasonable control.

Smart LOA may integrate with third-party loan origination systems in the future, beginning with ARIVE.

8. Fees and Payment

Fees for use of Smart LOA are set forth at smartloa.com or in your account order, and are billed according to the terms presented at signup. We reserve the right to modify our fees with advance notice to Users.

9. Intellectual Property

Smart LOA and all associated software, AI models, designs, and content are the property of Smart LOA LLC. Users are granted a limited, non-exclusive, non-transferable license to use the platform as intended. Users retain ownership of the Borrower and loan data they submit.

10. Limitation of Liability

To the maximum extent permitted by law, Smart LOA and its officers, employees, and service providers will not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or business opportunity, arising out of or related to use of the platform, even if advised of the possibility of such damages.

Smart LOA’s total liability for any claim arising out of or relating to these Terms or use of the platform will not exceed the total fees paid by the User to Smart LOA in the twelve (12) months preceding the claim.

Smart LOA is a document collection and organization tool. Smart LOA does not make lending, underwriting, or credit decisions, and is not liable for any lending decision made by a User or any third party in connection with use of the platform. Users are solely responsible for verifying the accuracy of AI-generated output before relying on it.

Nothing in this section limits liability that cannot be limited under applicable law.

11. Termination

Smart LOA may suspend or terminate access to the platform for violation of these Terms, non-payment, or misuse. Users may discontinue use at any time.

Deletion of an individual Borrower’s application, including all associated documents and data, can be requested by the User at any time and results in complete removal from both OneDrive and Smart LOA’s database, with no separate copy retained. For a full User account cancellation, or to request deletion of account data, contact admin@smartloa.com.

Borrower documents and data are otherwise retained unless and until deletion is requested by the User or the Borrower.

12. Disclaimer of Warranties

Smart LOA is provided “as is” without warranties of any kind, express or implied, including but not limited to accuracy of AI-generated content, uninterrupted availability, or fitness for a particular purpose.

13. Governing Law and Dispute Resolution

These Terms are governed by the laws of the State of Florida, without regard to conflict of law principles.

14. Changes to These Terms

We may update these Terms from time to time. Material changes will be communicated to Users, and continued use of the platform after changes take effect constitutes acceptance.

15. Contact Us

Questions about these Terms can be sent to admin@smartloa.com.