Because I am a lawyer in private practice, I have never seen how LaserPro works from the loan officer’s standpoint, but I can tell you that if everything LaserPro told you about the flexibility is true, then the loan officers don’t know how to use it properly.

I have represented both banks and borrowers. I have been asked by different banks to document loans that the loan officers said were too complicated for LaserPro. These were not standard loans but other than some tailored fees or financial covenants, there was not a great deal about the loans that needed to be changed.

On the other side of the table, I have reviewed LaserPro-produced loan documents and have frequently been told that minor wording changes (such as adding the word “reasonable” or adding a cure provision for a specific default) had to be made as a markup on the LaserPro document because the program did not allow the modification I requested.

It may be that the program can do things that the average loan officer doesn’t understand. Alternatively, it may not allow certain provisions to be modified so that loan officers cannot inadvertently (or deliberately) change the document. In either case, I have met many loan officers who basically treat LaserPro documents as they would a preprinted form rather than as a more powerful document assembly program.