Xerox Mortgage Services further supports the mortgage loan process by replicating a traditional loan process. Regardless of whether you use BlitzDocs® during the origination and underwriting processes, companies can greatly streamline post-closing, archiving and investor delivery by using BlitzDocs for these processes. By supporting existing action sets through post-closing and loan delivery, such as specified access to loan files and support for both bulk and flow submissions, users continue to benefit from efficiencies and streamlined workflow.

Paperless Post-Closing

Once a loan is closed and signatures are complete, all of the closed documents are scanned or uploaded into the BlitzDocs collaborative electronic loan folder™. All documents are then automatically categorized into the appropriate document types.

Once the loan is captured in the e-folder, it is available for collaboration, sharing and electronic investor delivery:

• Funders can collaborate by reviewing documentation and exceptions online to clear for faster funding. The e-folder can be electronically shipped to investors or connected to their systems.
• Investors, quality control firms and due diligence companies can receive secure links to the documents in real-time. Additionally, e-folders can be electronically shipped (e-Ship) or connected to other systems such as investor imaging archive systems.

Unique logins for each party (e.g. investor) enable documents to display in their own unique stacking orders, while a detailed audit trail provides a comprehensive view of everything that has occurred within the e-folder at the document level. The audit trail not only provides the “who, what, when” of every document submission, verification and other status changes, but also tracks which documents have been removed or added.

The BlitzDocs basic and advanced document splitter capabilities also enable users to customize the PDF appearance by rotating, re-ordering or indexing the pages. In addition, users can view document status and security access via icons and an easy-to-understand color scheme.

Electronic Loan Delivery to Investors

Delivering (shipping) complete paper-based loan folders or copy packages to investors is a big headache for lenders. People, copying, storage, shipping and other costs are great – as are the inefficiencies.

BlitzDocs greatly simplifies the process of delivering pools of loans to correspondent buyers or investors through an electronic process that works with the existing investor system, whether it is a third-party or BlitzDocs. BlitzDocs uses connector technology and/or e-Ship capabilities to deliver pools of loans electronically.

BlitzDocs Connector

BlitzDocs Connector enables the electronic delivery of the e-folder to third party in-house or external imaging systems. BlitzDocs Connector allows investors to receive individual or multiple e-folders – in investor-specific or industry standard formats. In addition, the capability enables the automatic mapping of document types and names from your terminology to the terminology of the receiving parties.

BlitzDocs provides pre-built connectors to major investors and correspondent lenders – including Chase, Bank of America (Countrywide), HSBC and more – thereby eliminating coding and maintenance for point-to-point integrations with these external systems. For a complete list, and to find out more about the BlitzDocs Connector, request the BlitzDocs Connector datasheet.

Electronic Shipment of Folders

For investors using BlitzDocs, our e-Ship capabilities enable the automatic bi-directional sharing of documents and loan folders. e-Ship allows BlitzDocs constituents to selectively ship loan folders and documents. To match processing workflow, and the needs of the closing/shipping department, e-Ship can be performed in either flow or bulk.

The receiving e-Ship party receives an e-Ship notification and then has the right to accept the electronic shipment. Once accepted, the receiving party can then add additional documents that can be automatically synchronized and “e-Shipped” back to the initial folder.