Advectis Enhances Image-based Investor Delivery Capabilities; New Functionality Expands Lenders' Options for Secondary Market Loan Delivery.CHICAGO -- Advectis(R), Inc., provider of the most widely-used solution for electronic mortgage document collaboration See data conferencing. , announced at the Mortgage Bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. Association's National Secondary Market Conference and Expo that it has enhanced capabilities for electronic document transfer and investor delivery in BlitzDocs(R) Collaboration Suite. The added functionality enables lenders to export imaged loan folders for secure, fast delivery to the secondary market. This new functionality is a natural extension to the multiple investor delivery methods that already exist across the BlitzDocs collaborative document network. The new export capabilities give lenders and correspondent sellers the ability to assign loans, either pool or flow, for electronic delivery to specific investors or 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. Once logged in to BlitzDocs, investors can access the assigned loans via a browser and import the document images directly into their internal imaging solutions. The delivery is securely transmitted from the BlitzDocs network to the external parties. No additional software, integration resources or programming is required for electronic loan delivery. "For lenders using the BlitzDocs Collaboration Suite, the enhanced export functionality allows them to rapidly designate and provide loan images to investors or other third party providers without any custom integration," said Judson Phillips, director of product marketing for Advectis. "This enhancement extends our existing transfer options, such as our electronic shipment (e-Ship) capability and BlitzDocs Connector. There are many benefits customers can derive from paperless loan processing and delivery, and we want to make the processes as seamless as possible." BlitzDocs Connector enables lenders and correspondent sellers to submit individual or multiple loan packages with their associated document images to investors. BlitzDocs Connector technology provides a more customized integration into an investor's proprietary document management or image archiving system, and includes automatic mapping of document types and names between parties. The packaging and delivery specifications of the documents can be investor defined or conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" the MISMO MISMO Mortgage Industry Standards Maintenance Organization MISMO Maintenance Interservice Support Management Office Smart Doc(TM) specification. With e-Ship, BlitzDocs customers can transfer electronic loan folders containing imaged loan documents from one BlitzDocs user to another and electronically notify the receiving company of an incoming transfer. Once the receiving BlitzDocs customer approves the transfer, e-Ship then maps the document names and the stacking orders (graphics) stacking order - The relationship between windows that (partially) obscure each other. A window manager will include commands to alter the stacking order by bringing a chosen window to the front (top) or back (bottom) of the stack. used by the sending lender to those used by the receiving correspondent or investor. If either party adds any new documents into their respective loan folders, then those documents are automatically synchronized syn·chro·nize v. syn·chro·nized, syn·chro·niz·ing, syn·chro·niz·es v.intr. 1. To occur at the same time; be simultaneous. 2. To operate in unison. v.tr. 1. and added into the folders of another BlitzDocs customer. "We have been using BlitzDocs Connector to deliver loans electronically to a number of Certified See certification. BlitzDocs Investors for over a year," said Rebecca Wegman, executive vice president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of GEM Mortgage. "With the addition of the new export capability, I can authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) access to specific pools of imaged loan folders for secure electronic downloading by any investor or due diligence provider who can use a browser." About Advectis, Inc. Advectis, Inc. provides the mortgage industry's most widely used solution for electronic document collaboration, BlitzDocs Collaboration Suite. The Web-based suite provides access to the BlitzDocs collaborative electronic document network where participants in the mortgage loan industry capture, submit, organize, 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. At the heart of the BlitzDocs network is the collaborative electronic loan folder which mirrors the paper loan folder that mortgage companies use today, but streamlines loan processing from capture and submission through sharing and delivering of the e-folder. With BlitzDocs, Advectis not only provides a solution for paperless processing now, but also offers a path to SMART Docs and the e-mortgage. For more information about Advectis and BlitzDocs, call 678.460.2460 or visit the Web site at www.advectis.com. |
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