Xerox Corporation is expanding the benefits of paperless loans to closing agents with the newest release of BlitzDocs eXtended Edition (XE). The new software connects participants electronically so they can work together to process loans without delays or bottlenecks. BlitzDocs XE now allows third-party closing agents to view and manage loan packages from lenders in one central place. Loan activity is tracked and reported back to BlitzDocs XE, eliminating the need for agents to call and check on package deliveries. Thorough auditing tools are built in to record and track the entire process.
The new software also includes an optional print and mail service for borrowers. BlitzDocs XE can be configured to submit loan documents to Xerox’s delivery center for printing and mailing to borrowers who choose not to complete the package electronically. With this service, materials are automatically mailed to the borrower within the appropriate timeframe required by law. This eliminates the need for lenders to manually check on the completion status of the documents and builds in an audit and tracking process.
“We continue to take steps forward to improve the paperless mortgage process for our customers,” said Nancy Alley, vice president of product management for Xerox Mortgage Services. “The latest version of BlitzDocs widens the circle of participants that can work together electronically and provides additional compliance safeguards for lenders.”