BlitzDocs and Lydian Will Help Lenders Manage Risk
Lydian Data Services here, a provider of mortgage process outsourcing services and mortgage transaction management solutions, has become an Advectis BlitzDocs Certified Quality Control and Due Diligence Provider.
"The number of companies that are concerned with potential liquidity issues and the quality of loan pools has resulted in a rapid increase in demand for both quality control and due diligence services," said Brian Fitzpatrick, president of Lydian Technology Group and executive vice president of product management and marketing for LDS.
Data flow and document reviews are made possible by the BlitzDocs "collaborative document network," LDS said. The ultimate benefit is better loan risk screening when loans are bought and sold.
"Our mutual customers will benefit from significant cost reductions and streamlined workflow associated with quality control and due diligence processes," said Todd Moncrief, vice president of business development at Advetics.
LDS said the partnership has allowed the mortgage-process outsourcing and mortgage transaction management solutions provider to accept loans "in the full range of delivery formats." The BlitzDocs collaborative network allows for flow, bulk, or mini-bulk packaging of and delivery of electronic loan folders.
"As a BlitzDocs Certified Quality Control and Due Diligence Provider, we make it effortless for lenders and investors to cost-effectively leverage outsourced quality control and due diligence services. When companies electronically submit their loans to us they can significantly reduce the cost and time associated with the process."
The BlitzDocs platform automatically maps document types, names and orders between parties in the transaction anytime online, while also enabling them to receive results from automatic bidirectional synchronization of electronic documents. (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com/ http://www.sourcemedia.com/