From Origination, Details Matter
Loan officers (including originators and brokers) are the first line of defense to ensure a compliant, transparent and seamless loan workflow. Responsible for gathering the necessary data to kick off the loan process, the LO must work hand-in-hand with borrowers to collect, organize and package information for the underwriter. Xerox Mortgage Services streamlines this process from day one.
Our BlitzDocs® electronic loan folder (eFolder™) mirrors the traditional loan folder, enabling the input of required loan information – including basic details like name, address and branch location – and creation of the loan file number and initial status. In addition, LOs can upload documentation – such as retirement account and bank statements, pay stubs, 401-Ks, and more – via scanner, fax, drag-and-drop, or integration with their loan origination systems (LOS). Companies can make certain documents “required” to help ensure the borrower’s income and assets are properly checked prior to initiating the workflow that “pushes” the loan to the underwriter.
Accurate Information Gives Underwriters Better Insights
When in underwriting status, the underwriter has immediate access to loan documents in the eFolder and can:
- electronically review, edit and underwrite the loan – adding notes and stipulations as necessary.
- use BlitzDocs' annotation capabilities to enable the signing of docs and the editing or addition of comments such as calculations – with the option to deliver or not to deliver the annotations to investors.
The multi-tier security settings enable underwriters to collaborate with originators, eliminating follow-up phone calls and emails, but limiting what the originator can see and do.
The BlitzDocs Network Makes it Easy
The extensive BlitzDocs network includes top LOSs, appraisal management companies, mortgage insurance companies and major banks to further streamline the process and support compliance.