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Special Reports

Electronic Documents

Speed and Accuracy With Docs Online

By Brad Finkelstein

With Homecomings Financial's Docs Online, a company executive said mortgage brokers have more of a stake in the loan closing process.

Dan Bettenburg, executive vice president, said before all the control was with Homecomings. With Docs Online, the mortgage broker is able to look at the documents before the closing.

It lets the brokers know the closing can go on without a hitch, and "gives them the confidence that the loan will close on time," he said.

Furthermore, he explained, it reduces the amount of data the mortgage broker needs to input into the system to a minimum.

Docs Online is available 24 hours a day, seven days a week. Brokers can enter closing documents and request funding online with more speed and accuracy; enter closing data in minutes; and run real-time tests for federal, state and local maximum rate and fee requirements.

But speed is also a key factor behind bring Docs Online to the mortgage broker community, Mr. Bettenburg said. Closing documents can be prepared and funding requests made in as little as five to 10 minutes, as participants in the pilot phase found out.

Normally the process is much longer, he pointed out. The platform is "critical to delivering industry-leading customer service."

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