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No Red Tape Gains Industry Advantage With Advectis BlitzDocs® Solutions
Jumbo
lender uses paperless processing to increase efficiency, customer
satisfaction
SHERMAN OAKS, Calif., July 14, 2005 – No Red Tape Mortgage announced
significant benefits with the use of Advectis’ BlitzDocs Enterprise
solution within the company’s automated loan management center, U-CLOSE.
The advantages of the application include increased workflow efficiency,
broker satisfaction and reduced operational expenses. No Red Tape
is the
nation’s
premier jumbo-only wholesale lender.
BlitzDocs Enterprise, a Web-based
solution by Advectis, provides a collaborative electronic document
platform for all participants in the mortgage industry to
capture, submit, organize, underwrite, audit, share and archive loan documents
electronically using the Blitzdocs collaborative electronic loan folder, e-folder.
“With the automation provided by BlitzDocs solutions, our brokers
and underwriters have a better loan process to more comprehensively meet
the needs of their clients,” said
Josh Stallings, vice president of strategic initiatives for No Red Tape. “Enhancing
U-CLOSE with BlitzDocs capabilities has led to faster turnaround times and
has improved our ability to provide exceptional customer service. The capacity
to
create an image of the file and then immediately manage the file makes our
workflow more effective, furthering our goal of becoming the most technologically
progressive
jumbo lender in the nation.”
One hundred percent of No Red Tape’s
brokers now have access to their loan files via the BlitzDocs platform. Since
BlitzDocs implementation, No Red Tape
cites multiple improvements, such as additional loans being underwritten per
day and reduced printing and copying expenses through the elimination of copy
packages. Also, the paperless system increases efficiency by enabling offshore
and offsite
processing.
“The BlitzDocs platform gives No Red Tape an industry advantage and
enhances
the entire mortgage loan lifecycle,” said Greg Smith, president and chief
executive
officer of Advectis. “With the ability to simultaneously view and access
mortgage documents via the Web, No Red Tape can de-paper the loan process, taking
their organization
closer to an electronic mortgage.”
Additionally, No Red Tape’s sister company, Zero Down Mortgage,
a national wholesaler specializing in 100 purchase-only financing, takes advantage
of BlitzDocs capabilities to enrich the broker experience.
About No Red Tape
Based in Sherman Oaks, Calif., No Red Tape Mortgage is a national
jumbo Alt-A and A Paper wholesale lender servicing brokers in
major metropolitan areas across
the United States. No Red Tape specializes in jumbo/super jumbo loans. Since
its founding in 1998, No Red Tape has approved billions of dollars
in jumbo loans
for its brokers, most in as little as 24 hours. No Red Tape offers fast response
times and five ironclad service commitments that guarantee brokers
will receive
the highest level of service on every loan.
For more information on No Red Tape Mortgage, visit its Web site at www.noredtape.com or call 800.300.9017.
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