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Advectis Enhances Image-based Investor Delivery
Capabilities
New functionality expands lenders’ options
for secondary market loan delivery
CHICAGO, May 8, 2006 – Advectis®,
Inc., provider of the most widely-used solution for electronic
mortgage document collaboration, announced at the Mortgage
Bankers Association’s National Secondary Market
Conference and Expo that it has enhanced capabilities
for electronic document transfer and investor delivery
in BlitzDocs® 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 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 the MISMO Smart Doc™ 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 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
and added into the folders of another BlitzDocs customer.
"We have been using BlitzDocs Connector to deliver
loans electronically to a number of Certified BlitzDocs
Investors
for over a year," said Rebecca Wegman, executive
vice president and chief operating officer of GEM Mortgage.
"With the addition of the new export capability, I can
authorize
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,
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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