No Red Tape Mortgage Launches U-Close

No Red Tape Mortgage, Sherman Oaks, Calif., has announced the launch of its U-Close automated loan management system, which it says enables brokers to manage and close jumbo loans on the Internet through any loan origination system with two clicks.The system allows the comparison of thousands of jumbo programs and pricing variations, all with interest-only options, and it enables brokers to get pre-approvals and pre-locks in seconds, the company said. Loan packages can be delivered to No Red Tape by mail or by scanning and faxing the entire package into Blitzdocs, with next-day decision guaranteed on loans up to $2 million. Blitzdocs digitizes and archives documents for use and review in a virtual, online folder. No Red Tape said its U-Close processors then organize, deliver, underwrite, audit, archive, and share loan documents using that e-folder. Brokers are able to securely access and view the loan folder and also fax or scan conditions directly into the file in real time. The company can be found online at http://www.noredtape.com.