A new digital lending process that has been unveiled by loanDepot LLC can provide near-instant approvals for home lending prospects, though it’s not for everyone.

The Foothill Ranch, California-based firm unveiled Monday a host of new tech tools that will enable customers to apply for a mortgage without talking to a loan officer.

loanDepot’s prospective borrowers can complete applications online, submit documents with smartphone cameras and take advantage of automated verifications.

Source: Mortgage Daily