Orion Financial Group Inc. is now providing mortgage document imaging and storage services to small to medium-sized investors. With its proprietary i3 software, Orion efficiently performs full collateral file reviews and instantly identifies missing documents. “We’re excited about offering this additional service to clients,” said Mike Wileman, Orion’s president and CEO. “i3 is a cutting-edge solution that streamlines and eases the collateral file review process.”
i3 determines which documents are missing from a predetermined set of expected documents—provided either by the client or by Orion--and then creates a missing documents report for investors to review. Orion also offers the option of retrieving and tracking documents from nearly any source.
Through i3, Orion provides imaging and storage services that give clients control over--and easy access to--any collateral file. Clients are able to access their document images 24 hours a day, seven days a week, through individual, private and secure accounts on the Orion web site. Each document has its own link.
Orion customizes the services it provides based on the individual investor’s needs. “Depending on what the investor wants, we can identify individual loan types, or specific portfolios by seller. We can create a collateral file out of a hybrid file--a combination of origination and servicing documents,” Wileman said.
Clients also have access to all of Orion’s post-closing services, such as document retrieval and the recording of assignments. “We are offering investors a one-stop solution to quickly and easily complete and record assignments on new loan acquisitions,” Wileman said.
Orion’s i3 is the second new product the company has introduced in 2013, Wileman added. Earlier this year, Orion rolled out a national settlement services solution for small to mid-sized investors. Since its inception in 1993, Orion has grown significantly in terms of its business and revenues. In the last five years alone, Orion has seen a 170 percent increase in the number of transactions it performs. In addition, the company’s client base has tripled since 2008, he said.