A New, Creative Alliance Forms

I love to tell you about creative alliances that I think improve the mortgage process. In this case, National Mortgage Insurance Corp. (National MI), a subsidiary of NMI Holdings, Inc., is now directly integrated with the Xerox Mortgage Services’ BlitzDocs intelligent collaborative network. The integration provides lenders with improved efficiency in working with National MI through a secure, enhanced document image exchange.

BlitzDocs is delivered as a cloud-based mortgage technology system and enables lenders to e-Ship or transmit documents in a paperless format, according to Ken Marlin, vice president, general manager with Xerox. Its electronic loan folder (eFolder) mirrors a traditional loan folder and only includes the documents both parties agree are needed, so unnecessary documents are eliminated. “eFolder increases productivity and accelerates the loan process while reducing paper costs and eliminating shipping fees,” Marlin said.

BlitzDocs’ advanced security settings enable all industry participants to work together on the same set of documents throughout the entire loan process to streamline process efficiencies and promote accuracy of loan data.

“Joining forces with Xerox allows our lender customers who use BlitzDocs to transmit their documents easily,” said Pete Pannes, executive vice president and chief sales officer with National MI. “It’s another option we offer our customers to transmit loan documents electronically and securely.”

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New Paperless Trends Emerge

*New Paperless Trends Emerge*
**Data Shows Advances**

files***In its ninth Path to Paperless study Xerox Mortgage Services found that even with compliance demands front and center, 63% of respondents noted having electronic document solutions in place, compared with 55% in 2012, which underscores the commitment to adopting paperless technologies in the near term. Here’s what else they discovered:

****The survey showed other positive trends in the acceptance and implementation of electronic initiatives, including:

****>> 78% of respondents’ companies are implementing technology to handle the flux of the industry.

****>> 45% feel their LOS’s imaging capabilities are lacking – they either use the capabilities but do not consider them sufficient or do not use them due to considering them insufficient.

****>> 76% of respondents prefer solutions that accommodate paper-sourced, imaged and electronic documents, and 75% value solutions that work seamlessly throughout the entire loan lifecycle.

****>> 80% of respondents cited decreased turnaround and processing time per loan, and 78% cited decreased processing costs per loan as benefits of going paperless.

****You can request a copy of the Path to Paperless Survey HERE to see how your paperless technology initiatives compare to your peers. The survey results represent a cross section of industry executives and functions ranging from origination, underwriting, closing and more.

The Road To Paperless

*The Road To Paperless*
**By Tony Garritano**

TonyG***Paperless doesn’t start with a SMART Doc, it starts much smaller. For good or bad, lenders never take the full leap when they can take baby steps instead. That’s why every integration to help lenders get closer to paperless counts. For example, Wipro Gallagher Solutions, a Wipro Technologies company and an end-to-end provider of lending products and services, has launched an integration with the Xerox Mortgage Services BlitzDocs intelligent collaborative network to provide lenders with improved communications and enhanced document imaging.

****The partnership seamlessly integrates WGS’ NetOxygen LOS loan origination software with BlitzDocs’ electronic loan folder (eFolder). BlitzDocs advanced security settings enable all industry participants – lenders, due diligence providers, MI companies and more – to collaborate on the same documents throughout the entire loan process. NetOxygen combines this utility with its automated platform to streamline service and data management capabilities. The alliance increases productivity and security by connecting lenders with all their trading partners simultaneously, from origination to post-closing through servicing.

****“Combining WGS’ NetOxygen with BlitzDocs provides lenders with a comprehensive, best-of-breed product that greatly simplifies the loan origination process,” said Ken Marlin, general manager and vice president of Xerox Mortgage Services.

****Through the integration, a BlitzDocs eFolder is automatically created, with files displayed in the lender’s defined view and mapped to WGS’ naming standards to ensure compatibility with their underwriting capabilities. BlitzDocs also supports one-click delivery to more than 25 investors – electronically shipping closed loan folders in the investors’ predefined stacking orders. Supporting lenders through every step of the origination process, the integration greatly speeds loan purchase.

****“The strategic partnership offers lenders increased flexibility and better workflow management to complete the origination of new loans more effectively,” said Narayan Bharadwaj, business head and general manager at Wipro Gallagher Solutions. “No two lenders are alike, and this integration ensures that, no matter the situation, the combined functionality of these products will meet any lender’s specific needs.”

Market Analysis: Advancing The Cause Of Paperless Processing Further

*Advancing The Cause Of Paperless Processing Further*
**By Tony Garritano**

***Anyone who has purchased a home is familiar with the stack of paper that has to be signed to finalize the loan transaction. Less known are the challenges lenders face to get the loan to the closing table–complex interactions behind the scenes, multiple participants needing access to the same file and regulation requirements for data transparency. PROGRESS in Lending has learned that Xerox Mortgage Services is helping lenders simplify the process with new features for its BlitzDocs intelligent collaboration network. Here’s the scoop:

****To help both internal and external participants work together more effectively, BlitzDocs’ new advanced workflow capabilities automatically queue loans to accelerate the process from origination to closing. In addition, using the new manager dashboard, lenders can track loan status and better manage productivity and workload across various people and processes.

****BlitzDocs now also provides annotation capabilities that allow lenders to easily edit, sign and comment on paper-based images and electronic documents rather than printing out documents to hand write notes or add signatures. BlitzDocs supports multiple versions of annotated documents so lenders can choose what is viewed by third parties and which version is sent to investors. Lenders also benefit from an audit trail showing who made the notes and when.

****“The enhancements made to BlitzDocs are well thought out and take our paperless collaboration to the next level,” said Jennifer Edwards, vice president of Town and Country Banc Mortgage Services, Inc. “BlitzDocs continues to help us simplify our processes and allows us to connect with all necessary parties from origination to post-closing.”

****Lenders working with Xerox Mortgage Services benefit from an extensive network of BlitzDocs certified partners and providers, now including Medallion Analytics and MRG Document Technologies.

****“To save time and adapt to industry regulations, lenders are recognizing that basic imaging is not enough – they need to extend collaboration beyond their own business,” said Nancy Alley, vice president and general manager of Xerox Mortgage Services. “Xerox is driving this industry change with new technology and a growing network of partners that make it easier for loan participants to work together to meet borrower needs and stay one step ahead of changing regulations.”