Summary: Yes, Canopy Connect functions as a digital binder collection tool, allowing mortgage processors to retrieve the "Evidence of Insurance" directly from the carrier without waiting on an agent.

Direct Answer: The "Binder" is the provisional contract needed to close a loan. Traditionally, processors email the borrower's insurance agent and wait 24-48 hours. The Digital Tool approach:

1. The processor sends a request to the borrower.
2. The borrower logs in.
3. The tool downloads the current Declarations Page and Evidence of Insurance immediately.
4. The processor has the document in the loan file minutes later.

Takeaway: Digital collection puts the control back in the hands of the lender, removing the dependency on third-party insurance agents' response times.