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Special Reports
Document Services: Riding
the Wave of Paperwork
Guardian Creates Interface With ProLender Solutions
LAKEWOOD, CO -- Guardian Mortgage Documents here has worked with ProLender Solutions
Inc., San Diego, to create a seamless interface between ProLenders' automated mortgage lending system and GMD's
Next Generation Form Engine.
The impetus to create this interface, said Tim Anschutz, vice president of marketing
for GMD, came from a pair of lenders that use ProLenders' system but wanted to use GMD's document preparation services.
The two firms are Millennium Capital and Hyland Financial Services.
"In order to become as profitable as possible, lenders need technology that
facilitates greater production while ensuring the quality of loans.
"This interface lets ProLender users access our systems with the push of
a button directly from their software, ensuring data quality regardless of product type, increasing efficiencies
in the total value chain," Mr. Anschutz said.
Speaking about GMD at a meeting with Origination News, he noted that in a scenario
where there is a full interface with the originator and no data entry are required, it takes between four and seven
seconds to produce a complete set of documents.
The company's document engine, he said, is very unique. Mr. Anschutz said he does
not know of another one like it and that gives GMD a competitive advantage.
Most of GMD's competitors use a fixed-grid system, where the documents reside
in individual files.
However, GMD has the Next Generation Input System or NGIS. A loan comes into the
system and the documents are created in real time. It uses a proprietary scripting language which gives the company
control and flexibility, he said.
For example, he said, with a fixed-grid system, a change in the documents that
affects all 50 states has to be made 50 different times. The proprietary scripting language allows GMD to make
the change just once.
Among the hardest things to do is to keep technology simple for the users, Mr.
Anschutz said. "NGIS is 'sophisticatedly' simple," he continued. Users can make inputs into the system
at any point in the chain.
Another area where GMD has made inroads is in creating documents for home-equity
transactions. Approximately 15% of its business are now home-equity products.
Mr. Anschutz noted GMD made a conscious decision a year-and-one-half ago to build
home-equity solutions because it expected rates to rise and home equity to become more important in the lender's
origination mix.
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