E-Loan Inc. this week announced a paperless secondary market execution that officials say represents the final step in the transformation of the mortgage process. By doing so, the consumer-direct online lender says it has become one of the lowest-cost producers in the mortgage industry. The new "flash funding" component of E-Loan’s process allows all the information on a loan to be sent electronically to an investor/servicer, where it is automatically loaded into a servicing system.