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Advectis' BlitzDocs Solutions Doubles Loan Volume During 2006.


Milestones include a 226 percent increase in number of loans processed through paperless solution

ATLANTA -- Advectis[R], Inc., provider of the most widely-used solution for electronic mortgage document collaboration See data conferencing. , more than doubled the volume of loans processed or delivered through its collaborative document network in 2006. The company, which has grown its employee base by more than 83 percent in 2006, also grew revenue by more than 100 percent.

Advectis' overall volume of 2006 loans in the BlitzDocs network increased 226 percent from 2005. Advectis also increased its customer base by 45 percent during 2006. By the end of 2006, BlitzDocs users benefit from a network of more than 20,000 broker shops, the top seven mortgage insurance companies and three of the top due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired.  providers, and investor participants that represent more than 60 percent of loans purchased in the secondary market.

Providing the mortgage industry with the capability for electronic document collaboration, Advectis' BlitzDocs service enables all mortgage participants to capture, submit, underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue.

The word underwrite has two meanings.
, audit, share and archive loan documents electronically.

"We are proud to continue our leadership as the number one network for mortgage document collaboration," said Greg Smith Greg Smith may refer to:
  • Gregory Smith (born 1983), actor
  • Gregory R. Smith (born 1989), child prodigy and rights advocate
  • Greg Lloyd Smith (born 1962), internet entrepreneur
, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Advectis, Inc. "The network collaboration enabled through BlitzDocs facilitates a more organized workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle.  to expedite ex·pe·dite  
tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites
1. To speed up the progress of; accelerate.

2.
 the loan process. As our customer base continues to grow; our clients will continue to take advantage of the service and efficiency advantages of a larger network."

Other 2006 milestones included Advectis garnering a position on Mortgage Technology's Top-25 Service Providers and enhancing the electronic document transfer and investor delivery capabilities.

"We continually con·tin·u·al  
adj.
1. Recurring regularly or frequently: the continual need to pay the mortgage.

2.
 strive to promote and enhance electronic collaboration," Smith said. "In 2007, we will continue to remedy inefficiencies in the mortgage industry caused by paper, enabling participants in the BlitzDocs collaborative document network to save money and time."

About Advectis, Inc.

Advectis, Inc. provides the mortgage industry's most widely-used solution for electronic document collaboration. The Web-based BlitzDocs Collaboration Suite provides access to the BlitzDocs collaborative electronic document network where participants capture, submit, underwrite, audit, share, deliver and archive loan documents. BlitzDocs customers benefit from a network with more than 20,000 broker shops, the top seven mortgage insurance companies and three of the top due diligence providers. Collectively, BlitzDocs investor participants represent more than 60 percent of loans purchased in the secondary market. For more information call (877) 200-8700 or visit www.advectis.com.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jan 24, 2007
Words:396
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