A Solution for Today, An Answer for Tomorrow
When Xerox Mortgage Services entered the industry more than a decade ago, the big concern was going paperless. At the most basic level, people were looking for imaging capabilities. Now, industry participants are looking to drive real ROI by extending collaboration beyond their four walls. The next step will be to not only collaborate on the documents, but also the data. Having one set of facts and corresponding documentation that can be shared with all loan participants will redefine transparency for the industry. Xerox Mortgage Services is committed to continually innovating its products – taking you ever closer to a true eMortgage.
What does eMortgage really mean?
The true definition of an eMortgage constantly evolves. When it was first discussed, eMortgage referred to a loan process completely without paper. However, in a recent survey, Xerox Mortgage Services found that 61 percent of participants say a company can call itself paperless without completing a true eMortgage – begging the question, what is an eMortgage today? Here are some of the components as we see it – click on the links below to learn more:
- Originating loans in a paperless manner
- Leveraging both electronic acknowledgement and electronic signatures on disclosure documents
- Performing an electronic closing, complete with eSignatures
- Electronically delivering closed loan folders to investors, in their specific format
- Using an online repository (eVault) for longterm storage/archival of a loan
- Servicing a loan using electronic collaboration