SwiftView Adds Document Technology

Portland, OR- SwiftView here has made a name for itself in the mortgage technology industry as an electronic document delivery company with its SwiftSend product and now will expand its reach by adding two new products, eDisclosures and eLoanFolder, to its arsenal.

"eDisclosures is a paperless process for delivering disclosure sets and applications to borrowers," said Steve Bachelder, president of SwiftView. "This product takes our document delivery expertise to the next level by offering enhanced reporting and archiving."

Specifically, eDisclosures offers online access to the disclosures for a 95-day period. Six-month online availability is available for an additional fee. Beyond that period SwiftView will send the lender all disclosures on a DVD that can be used to cut down on storage space and organize the disclosures for easy look up if needed.

SwiftView said that the product can be implemented in 30 minutes or less. In total, eDisclosures contains 20 settings that can be customized through a phone conversation with a SwiftView representative.

"This system will give the lender the ability to organize and separate both used and unused disclosures from the rest of the loan file," said Mr. Bachelder. "Because of legal reasons, lenders have to keep both used and unused disclosures, which is a very paper-intensive process. This product eliminates the need to keep boxes of disclosures."

Going into 2005 the company will also release what it calls eLoanFolder. "This product allows the lender to start electronic and stay electronic throughout the entire process," said Mr. Bachelder. "It allows for a common repository for all documents for a given borrower or loan or other identifier."

The product can accept all printable documents electronically, plus scanned or faxed forms. Forms like W2s, tax returns and signed documents can be faxed or scanned into the folder and converted to electronic form. The product will also upload appraisals, title and flood documents.

At present, SwiftView is recruiting beta testers for the eDisclosure product for a controlled release in the third quarter of this year. Action Mortgage of Spokane, Wash. has signed as one of the testers.

Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com

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