No Red Tape Streamlines Jumbo Pre-Approvals

Residential jumbo lender No Red Tape, Sherman Oaks, Calif., has released technology to speed up the pre-approval submission process for jumbo loans.The new service, which NRT is offering at no charge to its national broker network, is designed to streamline and simplify the submission process by not requiring any original documentation upon submission and, instead, accepting faxed copies to garner an underwriting decision. NRT staff will take the broker through the process to reduce the chance that a loan will be declined based on incomplete data or insufficient loan packaging. The entire file can be faxed into Blitzdocs, No Red Tape's online imaging system created and distributed by Alpharetta, Ga.-based Advectis, to make it possible to convert the paper to an electronic file. NRT can be found on the Web at http://www.noredtape.com.