Mortgage Builder Software, a provider of loan origination systems (LOS) technology, has announced a major upgrade to the electronic document management (EDM) capabilities of its award-winning platform. The new, digital imaging and paperless functionality is completely integrated into Mortgage Builder's renowned origination system, bringing new levels of efficiency and sophistication to the company's users within lending institutions of all sizes.
This new Mortgage Builder technology represents a complete and fully integrated digital alternative to using paper in the lending process. The benefits for lenders in having the capabilities seamlessly integrated into the LOS rather than as a third-party add-on are immediately evident. Users save time and effort by never having to leave the familiar Mortgage Builder environment and in essence, already know how to use the new leading-edge capabilities. Mortgage Builder was among the first LOS systems to provide basic electronic document management functionality, but the new platform integrates the most advanced digital image and document handling automation available anywhere, according to Keven Smith, Mortgage Builder's chief executive officer and president.
Mortgage Builder is setting an entirely new standard for built-in LOS document management," Smith said. "Users create electronic loan folders in seconds and automatically build the file with required documents within the system, never leaving it. When documents arrive via e-mail, fax or uploads through Mortgage Builder's privately-labeled lender portals, they flow directly into the appropriate loan's electronic folder and automatically enter the loan's workflow. Incoming documents are recognized and classified without requiring separator sheets or bar codes, a great time saver all by itself. And they are immediately 'teed up' for action in the right person's queue. It's a quantum leap in electronic document management."
With investors increasingly requiring electronic loan delivery in specific stacking orders, electronic document management is rapidly becoming a must-have for lenders, many of whom are currently using costly third party services to deliver electronic files. Paper, famously expensive and easy to misplace, becomes a thing of the past and is replaced with greater security and vastly reduced costs.
"The office supply vendors aren't going to be happy about this," Smith said. "Every digital loan means a ream of paper saved and represents a file that isn't going to be repeatedly copied, moved around the office and ultimately stored in a box somewhere. With millions of loans going digital each year, entire forests, landfills, watersheds and energy resources will benefit."
For more information, visit www.MortgageBuilder.com.