MortgageTree Picks BlitzDocs
MortgageTree Lending here will be using BlitzDocs, a product from Advectis Inc., to offer a paperless system for originating and storing mortgage loan information. In its press release, MortgageTree noted that a typical mortgage loan can use over 50 pieces of paper during the process.
The reasons cited by MortgageTree for using BlitzDocs include paper conservation, efficiency and improved customer service.
BlitzDocs is an Internet-based origination, underwriting and document archival system. It translates loan documents into images that can be moved electronically.
Those involved in the origination process for MortgageTree can use a fax machine or scanner and their World Wide Web browser to electronically capture, submit, organize, securely share and archive loan submission and closed loan packages.
Because things are done electronically, paper in mortgage files can be eliminated, plus mailing costs and delays are reduced.
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