Comergence's Realm Platform Now Featuring Document Library – NMP Skip to main content

Comergence's Realm Platform Now Featuring Document Library

NationalMortgageProfessional.com
Jun 16, 2014

Comergence has enhanced its Realm platform to include a Document Library, designed to enable a document to be filed once but be used by any lender a third-party originator, TPO, designates. Comergence maintains a Document Library with over one million documents. On average, a lender requires 30 documents, of which 50 percent are redundant among all lenders—and that means TPOs spend hours uploading the same documents. Realm is the standard in the mortgage industry for third-party-originator solutions, providing advanced, automated compliance monitoring and surveillance solutions. “Third-party originators upload their documents one time to the library and all the lenders with whom they do business will have access to them,” said Greg Schroeder, president of Comergence. “We reduced the amount of time required to gather and submit documents and this upgrade does a great job of eliminating redundant work that TPOs found painful.” The aim was to eliminate having to upload the same documents to every lender a TPO does business with and this upgrade achieves that objective. “We focus attention on anything we can do to reduce the time our users spend using the system, because that ensures they have more time to work with borrowers—to answer questions and make the lending experience easier for them,” said Schroeder. “We spend a great amount of time listening to lenders and to TPOs and they both expressed an interest in this upgrade, so as a result, we built it.” Some lenders will ask for a document that has already been placed in the Document Library. As a result, the technology includes a feature that allows TPOs to quickly and easily share a document with a lender that requests it. “Our aim was to ensure that complying with document requests was easy, fast and as painless as possible. That was the motivation behind creating this feature,” said Schroeder. Comergence is recognized for having the most comprehensive, up-to-date, and accurate database in the mortgage industry, capturing data and alerting lenders on licensing changes, legal issues, and other business related issues thousands of times a month.
Published
Jun 16, 2014