Lenders delivering loans to the Federal Housing Administration can now manage the process online through Xerox Corp.'s BlitzDocs electronic collaboration tool. A big problem for lenders that are paperless or want to become paperless is that FHA has 20% to 40% market share and they don't have e-mortgage standards. So, at the MBA Technology Conference in Las Vegas, BlitzDocs launched an FHA connector. BlitzDocs helps lenders and investors reduce document-related costs by capturing and managing image-based loan documents. There is now a connector in BlitzDocs to FHA that will allow lenders to either go or remain paperless when dealing with FHA. BlitzDocs will do the conversion required to deliver an acceptable loan to FHA.
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