Document preparation vendor DocuTech will begin offering electronic doc management services through a partnership with provider Xerox Mortgage Services.
The partnership allows DocuTech users to automatically place the barcodes that drive Xerox’s file management system on mortgage documents. The barcodes are embedded with loan data, making them easier to classify and store without the process of manually classifying the docs. DocuTech says the technology can save lenders 30 to 45 minutes per loan by eliminating that data entry process.
“Xerox Mortgage Services believes that eliminating key strokes and streamlining processes are key to paperless adoption,” said Nancy Alley, vice president of product management at Xerox Mortgage Services, in a press statement. “Our DataGlyph technology is a prime example of how automating the loan process can greatly improve a business’ efficiency and reduce errors.”
