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LIBERTY MORTGAGE REACHES BROKER MILESTONE WITH BLITZDOCS®
National wholesale mortgage lender offers paperless solution to 500+ brokers;
increases loan processing efficiency
(ATLANTA, JULY 1, 2003) Advectis, Inc. announced today that Liberty Mortgage,
a leading national wholesale mortgage lender, has reached a significant industry
milestone by certifying over 500 brokers to use BlitzDocs for electronic
loan package submission.
BlitzDocs, a Web-based hosted solution by Advectis, delivers paperless origination
and archiving of loan documents for the mortgage industry. BlitzDocs enables
brokers and lenders to electronically capture, organize, deliver, securely share,
and archive loan submission and closed loan packages.
"BlitzDocs is a cost-effective solution that differentiates us from other
wholesale mortgage lenders," said Herb Palmertree, first vice president,
Liberty Mortgage. “BlitzDocs lets us accept and review loan submission
packages from our brokers without paper and overnight delays. We can underwrite
loans faster and at lower cost, and our brokers save money and are more productive.
By offering BlitzDocs to our brokers as a service from Liberty Mortgage, we are
able to get more of their best loans, a boost to our bottom-line," Palmertree
said.
"Mortgage rates are at record lows, and wholesale lenders such as Liberty
are looking for ways to process loans faster and more efficiently," said
Greg Smith, president and CEO of Advectis. BlitzDocs delivers a simple, easy-to-use
system that allows brokers to submit paperless loan packages directly and immediately
to underwriting.
"I like BlitzDocs because it has helped me dramatically increase my business – what
I used to close in two to three weeks, I can now close in seven to eight days," said
Chris Leppert, a broker with Mortgage Equity Lenders of Westminister, Md. "With
BlitzDocs I can electronically submit a loan package to underwriting, and I can
have an answer immediately following their review and approval of my file."
BlitzDocs can be used by customers across the mortgage industry, including wholesale
and retail mortgage lenders, net branch operations, loan service providers, brokers,
auditors, title companies, appraisers and mortgage insurance companies. "Because
it was developed exclusively for the mortgage industry, BlitzDocs is much more
than an online imaging system and can be applied from origination through post-closing
and archiving," Smith said.
"We designed BlitzDocs specifically for the mortgage industry as a way for
lenders to turn paper into electronic documents early in the origination process," Smith
said. "Unlike traditional imaging solutions, which typically focus on closed
loan archiving only, BlitzDocs delivers benefits through the full life cycle
of loan processing including electronic origination, underwriting, conditions
handling, archiving, and auditing."
"We have worked with the BlitzDocs support team to improve our process flow
and have been pleased with their customer support," said Palmertree. "We
were able to easily implement BlitzDocs with our in-house staff in spite of a
challenging environment with record volumes. Our Account Executives are able
to train a broker on how to use the system in as little as half an hour.
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