Terms

These terms apply to this website and to pilot use of LoanLoom. LoanLoom is operated by Pragma Hospitality Management LLC (d/b/a LoanLoom). If your firm later signs a written agreement with us, that agreement governs and these terms step aside.

What LoanLoom is

LoanLoom reads the documents in a mortgage loan file: it works out what each document is, extracts the fields from it, reconciles values that disagree between documents, and presents the result to your team as a review queue. It can export a reconciled file in MISMO 3.4 format.

What LoanLoom is not

• We are not a lender, a broker, or a servicer, and we do not originate, underwrite, price, or decide anything about a loan.
• We do not give legal, regulatory, compliance, tax, or financial advice. Nothing the product produces is an opinion on whether a file is compliant or a loan is approvable.
• We do not make or influence credit decisions, and the product does not score, rank, or recommend borrowers.

The output needs a human, by design

Automated extraction gets things wrong. That is why there is a review queue rather than a finished file: every extracted value carries its source document and a verification state, and unverified fields are counted and surfaced before export. You remain responsible for the accuracy of anything you rely on or send onward, including any exported file. Treat the output as assistance to your team’s review, never as a substitute for it.

Your side of it

• Only put documents into LoanLoom that you have the right to process, and use it consistently with the disclosures and consents you have given your borrowers.
• Keep your account credentials to yourself, and remove team members’ access when they leave. Owners control who can reach what.
• Do not attempt to break the separation between workspaces, probe the service for vulnerabilities without asking us first, or use it to build a competing product.

If you believe you have found a security problem, please write to us before publishing it. We would rather hear from you than read about it.

The pilot

Pilot access is offered at our discretion. The first three loans are free. Beyond that, pricing is per loan and is agreed with you in writing before it applies — you will not be charged for something you did not agree to. A pilot is not a commitment by either of us to a longer arrangement, and either of us may end it at any time. If we end it, we will give you reasonable notice and a way to get your data out.

Availability and warranties

The pilot is provided as is. We do not promise that the service will be uninterrupted, that extraction will be correct in any given case, or that it will fit a particular purpose of yours. We disclaim implied warranties to the extent the law allows.

Liability

Neither of us is liable to the other for indirect or consequential loss, or for lost profits or lost business. Our total liability arising out of the pilot is limited to the fees you have paid us for it, which during the free portion of a pilot may be nothing. Nothing here limits liability that cannot be limited by law.

Privacy

How we handle information is described on our privacy page, which forms part of these terms.

Changes

We may update these terms. If a change materially affects a pilot already under way, we will tell the account owner rather than relying on you to notice the date at the top of this page.

Governing law, and reaching us

These terms are governed by the laws of Georgia. Questions to [email protected].