It’s Still Important To Go Paperless
“Going paperless is as much, if not more a priority in this current market,” added Jonathan Corr, chief strategy officer at LOS vendor Ellie Mae. “I continue to see massive month over month growth (the number of loans involved in our EDM solution has grown over 100% since December 2007, and growth in the last three months has begun to accelerate), and I believe it’s driven by folks understanding that efficiency, quality and transparency are paramount in this market.”
Electronic Document Management: A High-Impact Technology for Originators
“Paperless, electronic document management works regardless of the size of the company and because the return on the small investment is felt almost immediately it will attract pretty much all of the origination companies eventually. It’s no secret that their numbers are dwindling; industry observers are telling us that there are as few as half the mortgage brokers now as there were just a year ago. Those who remain will simply have to find better, faster and cheaper ways to conduct their business if they wish to stay viable.”
Paperless or Paper-Light: Which is Better?
“The buzzword paperless should be translated to paper-light. There can be a lot of efficiency gains attained by getting some of the paper out. Sure we want to get all the paper out, but do we wait until that’s possible to gain efficiency? I would hope not,” concluded Mr. Smith.”
Seven Major Concerns for the Mortgage Originator
“Go paperless in your office and stop being a slave to a bygone practice. At the same time you’ll save time, money, effort, and gain a PR windfall benefit by going “green.” Explore Electronic Document Management alternatives.”
Who Cares About Paperless Processing?
“As lenders look to be more efficient, concepts like electronic delivery, imaging, electronic workflow and electronic signatures come to mind. There’s a lot of hard costs that can be eliminated right away by adopting these technologies. However, the idea of saving trees and helping the environment is also an up-and-coming concern.”