Seventy percent of mortgage professional
s are now electronically delivering disclosures and other documents – showing a growing commitment among lenders to make the process easier and less-time consuming for consumers. For lenders embracing paperless mortgage solutions, allowing borrowers to participate in the loan process online is paying off. Full-service mortgage banker radius financial group inc. is saving thousands of dollars per month using Xerox Mortgage Services’ BlitzDocs®
and BlitzDocs eXtended Edition (XE). Using BlitzDocs XE, borrowers can access documents that need to be read, acknowledged and electronically signed (“eSignature”).
They can also upload documents that were physically signed – eliminating the need to fax and ship hard copy documents. “Making the cumbersome mortgage process fast and easy is critical to attracting and keeping customers,” said Keith Polaski, principal, radius financial group inc. “Xerox has the industry experience and technical expertise to change the way we do business with borrowers and to increase our operational efficiency. They helped us meet our goal to not just survive the mortgage crisis, but also to come out stronger than ever.” To drive future growth, radius financial group inc. is using BlitzDocs to improve collaboration with other participants across all parts of the loan process.
The cloud-based platform also helps the company accommodate influxes of loan applications or changing market conditions, while Xerox’s patented DataGlyph®
technology accelerates back-end processing by automatically classifying loan documents. Lenders, brokers and investors working with Xerox Mortgage Services benefit from an extensive network of BlitzDocs certified partners and providers who work together from origination to the archival of a closed loan. Colorado Housing and Finance Authority, a la mode inc., DocuTech Corp., and Harland Financial Solutions recently joined the growing list.
Complete results of the Path to Paperless Survey and the radius financial group inc. case study are available online at http://www.xerox-xms.com and at Xerox Mortgage Services’ booth, No. 315, at the MBA’s 98th Annual Convention and Expo
from October 9-12 at the Grand Hyatt Regency in Chicago, Ill.
ATLANTA -- When it comes to keeping costs down and customers happy, many mortgage lenders are using new technology to make it happen, according to the seventh annual Path to Paperless Survey sponsored by Xerox Corporation (NYSE:XRX).