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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.

Electronic Documents

Electronic Documents: Forms of Transmission

Going back to the dawn of technology in the mortgage industry, the ultimate goal was to have a paperless (or as few papers as legally possible) mortgage process. Very quickly, it was realized that there needed to be a data exchange standard so that effort was not wasted and errors were kept to a minimum in order that each provider have the same basic information.

With the growth of the Internet, it has become convenient to exchange data quickly and easily through a single source like a portal. This has led to the development of various forms of electronic documents.

At the 2007 Mortgage Technology magazine awards ceremony, Gabe Minton, who had spearheaded the development of standards while leading MISMO, described his recent experience of closing a mortgage loan using electronic processes.

Mr. Minton made the comments in his acceptance speech for the Lasting Impact Award.

Another award winner was Advectis, whose product is BlitzDocs.

In this special report, read about how Lydian Data Services has become an Advectis BlitzDocs certified quality control and due diligence provider.

Also read about Homecomings Financial's new Docs Online service for mortgage brokers.

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