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Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Document Services
Speeding Up The Process
Mortgage originators would like to have their hand on the throttle when it comes
to the time it takes to complete the lending process. Part of the problem is the endless conveyer belt of paper
that consumers and originators have to deal with.
What is the answer? Well, the document services business is one of the key players
in cutting the time it takes to originate a loan.
While much of the talk has been about SMART Docs, there are other contributors
that make a quicker loan origination possible.
In this Special Report, Don Iannitti of Document Systems Inc. discusses the demand
for electronic front-end disclosures. Right now, there is more investor demand for this product than there is for
SMART Docs.
He calls the e-disclosures a step in the right direction towards acceptance of
SMART Docs. Part of the problem is that investors and originators are not familiar with SMART Docs and that e-disclosures
help users gain a comfort level.
Meanwhile, until recently, Fannie Mae was the only investor that had established
electronic mortgage standards. In this Special Report, read about the other entities, which have established standards,
such as Freddie Mac, Flagstar and Countrywide.
Once the documents are created, they have to be stored, and Pipeline Solutions,
with the latest release of its Mortgage Banker Series, includes document image storage. But it is more than just
this one piece, as the company labels it a complete solution from application through closing.
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