AXACORE’S ELECTRONIC DOCUMENT MANAGEMENT (EDM) FOR MORTGAGE MISSING COMPONENT TO COMPLETE MOBILE APPS TO LOS TREND
San Diego, CA, August 11, 2012 –(PR.com)– The recent trend to provide mobile apps to loan officers in the field underscores the next technology challenge for the Mortgage industry: Mobile success depends not only upon real-time access to needed data, but also to retrieve important documents. Axacore’s EDM for Mortgage utilizes a web interface to make documents available to view anywhere at any time.
Mortgage related companies seek mobile apps to mimic functionality available via their websites, so those capabilities can be extended into the field and point of sale. The objective is to transform information entered into the mobile app to LOS platforms, reducing dual data entry.
One recently released mobile app is to be used by loan officers, settlement agents and real estate agents to move information from the app into the LOS. Axacore’s National Channel Sales Manager Steve DeBlasio says mobile apps will continue to be hampered by a lender’s paper trail without an EDM system.
“Innovation in mobile technology has streamlined loan processing by eliminating the rekeying of data,” said DeBlasio. “For data, this is great. However, until we reach a point of 100% E-Mortgages, there will continue to be paper documents supporting this data. The efficiencies gained at point of sale will be squandered away on the back end if lenders are not able to provide supporting documents to the field.”
Axacore EDM for Mortgage:
All parties in a mortgage transaction can also benefit from a lender client utilizing an EDM solution. Passing documents back and forth by traditional methods is slow and unsecure. “A Title company who can remotely log into a lenders EDM and view or upload the documents they need is a huge benefit,” said DeBlasio. “The same goes for brokers. They need to pass a lot of docs back and forth with lenders. Our web interface allows documents to be submitted, recorded and viewed anywhere at any time.”
Since 1996, Axacore’s EDM for Mortgage has provided lenders with a ready-to-deploy platform that reduces overhead, speeds the loan origination process and continues to produce efficiencies throughout the life of the loan.