Archived news articles from 2006

December 2006, Mortgage Technology
Tower on Tech
For the past two to three years, leading mortgage lenders have been licensing enterprise content-management (ECM) systems to automate loan origination and post-closing lending processes.
December 2006, National Mortgage News
Study Finds Lenders Embracing E-Mortgages
As more education about the value proposition behind going electronic is discovered, the movement toward paperless processes and eventually electronic mortgages is accelerating. A recent study conducted indicates that those lenders currently engaged in adopting emortgage technologies are growing at a faster rate than most expect. The study conducted by imaging and collaborative workflow vendor Advectis here surveyed over 60 organizations including 10 of the top 20 lenders and five of the top 10 lenders.
December 2006, National Mortgage News
Lenders Share Their Techniques on How They Determine Return on Investment on technology Expenditures
Jumbo lender No Red Tape Mortgage, Sherman Oaks, Calif., also recently implemented an imaging strategy with a great deal of success...NRT decided to invest in Advectis' BlitzDocs product.

November 2006, National Mortgage News Daily Briefing
Lender Embraces E-QC and E-Due Diligence
Hanover Capital Partners, Edison, N.J., has embraced imaging practices for providing due diligence and quality control services to its investor customers with the selection of BlitzDocs, the flagship product of Alpharetta, Ga.-based Advectis. Advectis said Hanover has also become a BlitzDocs Certified QC Provider and BlitzDocs Certified Due Diligence Provider. As a certified provider on the BlitzDocs collaborative document network, Hanover is prepared to receive imaged loan folders from lenders using BlitzDocs to perform QC and due-diligence review, Advectis said. Lenders and investors can deliver imaged loan folders electronically to Hanover by this method.
November 2006, dBusiness News
Hanover Capital Partners Joins BlitzDocs® Collaborative Network
As a certified provider on the BlitzDocs collaborative document network, Hanover Capital Partners is prepared to receive imaged loan folders from lenders using BlitzDocs to perform QC and due diligence review. With a single mouse click, lenders and investors can deliver imaged loan folders electronically to Hanover Capital Partners.
November 2006, Real Estate Technology News
Hanover Capital improves due diligence, QC services with collaborative doc technology
By joining the BlitzDocs Collaborative Network, Hanover Capital Partners can now receive imaged loan folders from lenders also using the Advectis system. It will use paperless lending technology to streamline its processes and better serve investor clients. Read on to find out the reasons for Hanover's selection.
November 2006, MBA NewsLink
Advectis, Hanover Capital Collaborate
Advectis Inc., Atlanta, provider of electronic mortgage document collaboration services, announced that New Jersey-based Hanover Capital Partners selected BlitzDocs Collaboration Suite as its corporate document imaging for providing due diligence and quality control (QC) services for investor customers. Hanover Capital Partners has also become a BlitzDocs Certified QC Provider and BlitzDocs Certified Due Diligence Provider.

October 2006, National Mortgage News
Image-Based Underwriting Reduces Cycle Times
While automated underwriting got the industry through the refinance boom, it is still not completely equipping the lender to underwrite all loans electronically. Enter image-based underwriting, which is taking manual underwriting and streamlining it to allow for greater efficiency and faster cycle times.
October 2006, Inside Mortgage Technology
Not Every Investor Does It, But They Should
Lenders are adopting paperless loan delivery technology at a brisk clip this year, with eMortgage vendor Advectis signing several new clients in recent weeks including Citigroup, Homecomings Financial and Wholesale Lending Online.
October 2006, National Mortgage News
Providing True End-to-End Electronic Delivery to Investors
As more investors begin to accept imaged files, lenders are gravitating quickly to e-delivery vendors to save on the paper, FedEx and manual labor associated with investor delivery.
October 2006, MBA newslink
Residential Briefs
Advectis Inc., Atlanta, a provider of electronic mortgage document collaboration services, announced that three companies have selected BlitzDocs Collaboration Suite for electronic document submission, image-based underwriting and electronic loan delivery: Wisconsin-based GN Mortgage, Massachusetts-based East West Mortgage and California-based Wholesale Lending Online.
October 2006, Real Estate Technology News
Mortgage firms take the paperless plunge
Three mortgage companies have started using the Advectis BlitzDocs Collaboration Suite for electronic document submission, image-based underwriting and electronic loan delivery.
October 2006, Real Estate Technology News
Advectis: Underwriters process more loans with imaging system
Underwriters that use the BlitzDocs solution from Advectis were able to underwrite more loans per day and streamline the notification and conditions process, according to a survey the company conducted with its customers.
October 2006, National Mortgage News
Homecomings Adopts BlitzDocs Tech
Homecomings Financial, a Minneapolis-based wholesale funding lender, says its mortgage brokers are now one step closer to a completely paperless mortgage process with the adoption of new Advectis BlitzDocs technology.
October 2006, MBA TECH newslink
New Products/ Tech Briefs
Advectis Inc., Alpharetta, Ga., released its BlitzDocs Connector for New York-based Citigroup. Citigroup has also become a BlitzDocs Networked Investor, where it can receive imaged loan documents from any lenders using the BlitzDocs Collaboration Suite.
October 2006, Real Estate Technology News
Citigroup brings correspondents into the paperless age
Advectis, which specializes in electronic mortgage document collaboration, has released a BlitzDocs Connector for New York-based Citigroup. Citigroup has also become a BlitzDocs Networked Investor.

September 2006, Real Estate Technology News
Flagstar, Homecomings plot the future of e-delivery
Wholesaler Homecomings Financial is also taking steps to help brokers advance toward as fully paperless mortgage process. It recently selected Advectis BlitzDocs as its Web-based imaging solution. The system now supports more than 60 percent of the company's loan applications.
September 2006, Mortgage Technology Newsletter
E-Investor Delivery Heats Up
"The demand for electronic document investor delivery is definitely on the rise," reported Judson Phillips, director of product marketing at imaging and collaborative workflow vendor Advectis Inc., Alpharetta, Ga. "We continue to add new investors to our BlitzDocs collaborative document network and correspondent lenders are helping drive that adoption. The ability to use a paperless process benefits all participants in the secondary market.
September 2006, MBA TECH newslink
The Price vs. Cost Conundrum: Generating Business While Reducing Costs
Our sales are up over 100 percent from last year. I think the reason that that is for companies that are increasing share in a down market from a tech company perspective-they have to be offering more than just efficiency which is the way that software in many technology products are typically purchased. In our case...you are going to be more efficient, you will be able to drive costs down but the other end of the spectrum is being more effective in generating more sales... [Greg Smith, CEO of Advectis]
September 2006, National Mortgage News
Electronic Document Collaboration Enhances ROI
According to the results of a survey conducted by Alpharetta, Ga.-based Advectis, 93% of those questioned indicated that it was important for all parties to have simultaneous, anytime, anywhere access to the electronic loan folders and their associated document images. Brokers, lenders and AEs with secure authentication can view loan information in real time to enable faster resolution without the inherent cost of moving paper documents.

August 2006, Inside Mortgage Technology
Industry Efficiencies Lagging Despite Tech
Technology provider Advectis estimates that the industry produces 6 billion new pages of paper each year…Advectis for its part is holding a series of Webinars to explain the paperless process and the technology that drives such systems…Advectis’ hour long seminars do impart useable knowledge that non-biased experts would likely convey.
August 2006, Real Estate Technology News
Advectis kicks off paperless lending Webinar series
Advectis kicked off its new Webinar series for the mortgage industry Wednesday with “Paperless Origination and Underwriting: What Really Matters.” As part of the series, Advectis plans to discuss topics such as paperless origination and underwriting, the emergence of collaborative document networks, trends in paperless technology, how to reduce costs, streamline processes, process loans faster and more.
August 2006, Mortgage Banking
Understanding What Customers Want
Electronic documents are "fundamentally changing this business and bringing 'friction' down in a collaborative way," said Greg Smith, [Advectis president and CEO].

July 2006, Mortgage Technology
Is Demand For Imaging Slowing?
"The concept of imaging is still very strong, but today more than ever, lenders are looking at their whole process from origination through delivery to investors," said Greg Smith, president and CEO at Advectis. "Imaging is a step, but more and more lenders are looking at removing paper, and streamlining their entire process."
July 2006, Real Estate Technology News
Advectis to present Webinars for paperless lending
As part of the series, Advectis will present three live, 60-minute Webinars with industry experts. The company said the series will cover topics such as paperless origination and underwriting, the emergence of collaborative document networks, trends in paperless technology, how to reduce costs, streamline processes, process loans faster and more.

June 2006, Broker
Six Things to Consider; What a mortgage broker should want in a technology-savvy lender
While industry standards and technology continue to adapt to the mortgage industry’s changing needs, the need to correctly employ the best technology available will only gain in importance.
June 2006, Mortgage Originator
Share and Share Alike: The rise of the electronic file sharing platform
After several years of being stroked and developed, this year’s true innovation at the [Mortgage Bankers Association Technology in Mortgages] show emerged: the electronic collaborative file sharing platform...
June 2006, National Mortgage News
Pros and Cons of Using Your LOS as Middleware; 'You can't run four or five different systems internally to do the same thing.'
Given the buzz about the benefits of service-oriented architecture, lenders have two choices in realizing some of that savings, either getting SOA in the loan origination system and using it as middleware or re-architecting the system to include a middleware component that employs business process management technology.
June 2006, Mortgage Banking
Securing Mortgage Documents in an Online World
Given the amount of customer information in lenders’ systems, it is no surprise that security is a critical issue…All the parties involved in the mortgage process need to work with a provider that offers applications that will protect their systems and most important, the sensitive customer data being shared.

May 2006, Mortgage Technology
Top 25 Mortgage Technology Service Providers
With a continually expanding list of users, Atlanta-based Advectis Inc. boasts that it has become the mortgage industry’s most widely-used solution for electronic document collaboration, the Web-based BlitzDocs Collaboration Suite…BlitzDocs offers easy implementation and almost no training to use.
May 2006, Mortgage Technology
Advectis Enhances E-Doc Transfer
Advectis Inc., Alpharetta, Ga., has announced the release of enhanced capabilities for electronic document transfer and investor delivery in its BlitzDocs Collaboration Suite. 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 providers.
May 2006, MBA TECH newslink
News Briefs
Atlanta-based Advectis Inc. enhanced the capabilities BlitzDocs Collaboration Suite, electronic document transfer and investor delivery product. The added functionality allows lenders to export imaged loan folders for delivery to the secondary market. The export capabilities allow users to assign loans, for electronic delivery to specific investors or due diligence providers.

April 2006, Mortgage Servicing News
Standardized E-Delivery to Investors is a Must
Investors like Freddie Mac and Flagstar have delivered their e-mortgage specifications in recent months. Fannie Mae and Countrywide have had specs for some time…Regardless of adoption, collaborative workflow vendors like Alpharetta, Ga.-based Advectis, are ready to move on e-delivery regardless.
April 2006, Mortgage Technology
How to Spend Your Imaging Dollars
With all this talk about electronic mortgages and paperless processing, imaging becomes very significant. In an ideal world the mortgage process would start as data and remain data throughout, but this isn't an ideal world and paper documents like W2s will likely be around for some time to come…"If you're trying to deliver a world-class imaging and document management system, would you buy it from an LOS vendor," asked Greg Smith, CEO of Advectis, a workflow vendor headquartered in Alpharetta, Ga. "Imaging systems inside the company walls are siloed solutions."
April 2006, Mortgage Technology
The Battle Over SMART Docs
What exactly does the MBA and its MISMO subsidiary mean by open standards and SMART Docs?...Industry familiarity with PDF is a big selling point to those that support the addition of this new SMART Doc category.
April 2006, Mortgage Technology
The Future of Collaboration in the Collaborative Network
While certain aspects of the mortgage industry shrink due to consolidation and company mergers, the need for the many interconnected participants to communicate more effectively is growing.
April 2006, MBA TECH newslink
News Briefs
Advectis® Inc., Alpharetta, Ga., provider of electronic mortgage document collaboration services, announced that three additional mortgage companies have selected BlitzDocs® Collaboration Suite for their organization.

March 2006, Broker Newswire
Mortgage Companies Join BlitzDocs Network
Advectis Inc., a national provider a solution for electronic mortgage document collaboration, announced at the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo that three additional mortgage companies have selected BlitzDocs Collaboration Suite for their organization.
March 2006, MBA TECH newslink
Technology Briefs
MBA TECH newslink caught up with Mike Shutt, co-founder, executive vice president and chief technology officer of Advectis Inc., Atlanta, a provider of paperless origination, underwriting and archiving services for the mortgage industry. Shutt comments on emerging technology trends, e-mortgage, MISMO standards, web services, and much more.
March 2006, Mortgage Daily
Digital Wholesale Submissions
Mortgage brokers are increasing originations and reducing time, money and errors by electronically submitting loan packages to wholesale lenders, according to a recent survey.
March 2006, Inside Mortgage Technology
Document Manager Finds Lenders are Saving Money
Almost every piece of mortgage technology on the market today claims to save money. But do they? Advectis wanted to know the truth and asked several thousand of its lender/broker clients whether they actually saw productivity gains by using BlitzDocs, the vendor’s document management system. About 82 percent of the brokers surveyed said they were able to significantly streamline their loan process and decrease turnaround times, said CEO Greg Smith.
March 2006, Broker Universe
Making Work a Vacation
The main draw to Web-based software is that it allows the user to be mobile. Beyond that vendors like Alpharetta, Ga.-based Advectis offer its BlitzDocs program to connect brokers to lenders and other third-party services. "We're seeing the broker pool that's using BlitzDocs being more satisfied," explained Advectis president and chief executive Greg Smith.
March 2006, Scotsman Guide
Docs Going Digital; On the Road to e-Mortgages, Image-Based Underwriting is a Path to Consider
One area to consider on the path to the e-mortgage is image-based underwriting. This entails an application that allows originators or brokers to fax or scan paper documents securely and view them as digital images. Although technological acceptance often has to catch up to the technology itself in our industry, image-based underwriting is a natural addition to an industry that has ramped up its efforts to eliminate the use of paper.

February 2006, National Mortgage News
Standardized E-Delivery to Investors is a Must
Investors like Freddie Mac and Flagstar have delivered their e-mortgage specifications in recent months. Fannie Mae and Countrywide have had specs for some time…Regardless of adoption, collaborative workflow vendors like Alpharetta, Ga.-based Advectis, are ready to move on e-delivery regardless.
February 2006, Mortgage-Technology.com
What's Ahead for MISMO
I [Greg Smith] like the direction MISMO is going in. They're not dictating how things are going to be, they're allowing for the natural evolution to e-mortgages. MISMO’s role shouldn't be expanded beyond its charter, but I like how they have executed their charter thus far. MISMO is on the right track.
February 2006, MBA TECH newslink
Technology Briefs
Atlanta-based Advectis Inc. released survey results regarding the benefits of paperless origination for mortgage brokers. Mortgage brokers currently submitting loans through BlitzDocs were asked how the product affected time efficiency and loan processing workflow. According to the survey results, 93 percent of those questioned indicated it was important for all parties to have simultaneous access to the electronic loan folders and their associated document images.
February 2006, Broker Universe
Electronic Investor Delivery Becoming Latest Trend
Workflow collaboration vendor Advectis agrees that edelivery to investors will be one of the big technology achievements of 2006.
February 2006, Mortgage Banking
Mortgage Document Network Expansion Fuels Advectis Growth
Advectis has expanded broker participation in the BlitzDocs network tenfold, to more than 10,000 brokers within the last three years. According to Advectis president and CEO Greg Smith, “Such heightened participation in the BlitzDocs mortgage document network translates into higher value for everyone involved...”
February 2006, Origination News
Electronic Investor Delivery Becoming Latest Trend
Fannae Mae is no longer the only investor to establish electronic mortgage standards as Freddie Mac, Flagstar and Countrywide have joined it. With more options, electronic delivery to investors is expected to become more the norm and the promised ROI associated may become more of a reality.
February 2006, Origination News
Panel Finds Imaging is Now the Rage
Imaging has long been viewed merely as an attractive – but costly - way of archiving documents in a paperless environment. However, as optical scanners get cheaper every day and paperless processes prove their worth with workflow tools that monitor the entire loan file, the entire mortgage industry has awakened to the operational benefits of imaging.
February 2006, Mortgage Technology
The E-mortgage Path Through Paperless Processing
The desire for a paperless path environment is evolving. The mortgage market is talking a lot about "going paperless." The current loan origination system is inundated with paper. The paper volume has become staggering in spite of advances. Paper remains the main medium for communication among the various participants in the process.
February 2006, Mortgage Technology
Insiders Look into the Future of Mortgage Technology
What really happened in 2005 and what's ahead? The last couple of conferences that we’ve been to, you hear more and more about e-mortgages…I really think we’re getting closer, said Advectis president and CEO Greg Smith.

January 2006, Inman Real Estate News
Advectis' mortgage document network expands; Growth shows industry shift toward paperless processing
Expansion of the company's electronic document network shows that the effort toward a digital, more streamlined real estate transaction is moving along.
January 2006,Mortgage-Technology.com
Imaging Now the Rage
The most significant benefit of imaging and data integration comes with pushing the technology out to trading partners, said Advectis president and CEO Greg Smith, a benefit achieved at low cost with Advectis's awardwinning BlitzDocs product.
January 2006, Mortgage-Technology.com
Advancing the Mortgage Technology Ball
At no cost, brokers and correspondents using solutions from Flagstar's vendor partners – Advectis [and others] ...can make single-click or automatic document submissions to Flagstar Bank.