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Advectis Announces Results of Third Annual
Broker Survey
89 percent noted importance of simultaneous
access to same electronic loan folder
ATLANTA, March 21, 2007 – Advectis®, Inc.,
provider of the most widely-used solution for electronic
mortgage document collaboration, recently announced the
results of its third annual Broker Survey, garnering
feedback and input from 799 brokers and originators connecting
to the BlitzDocs® collaborative document network,
via a lender-sponsored BlitzDocs-powered Web site.
Mortgage brokers who currently submit loans using BlitzDocs
answered questions regarding their experiences with paperless
loan submission. They detailed how paperless submission
has affected their efficiency, loan processing workflow
and loan origination volume. The vast majority (72 percent)
said that BlitzDocs streamlined their approval notification
and/or conditions process.
Eighty-nine percent noted that it was “important” for
all parties to have simultaneous access to the same electronic
loan folder, with 64 percent identifying it as “very
important.” With BlitzDocs, brokers, lenders and
account executives with secure authentication can view
loan information simultaneously in real-time, decreasing
turn-time and increasing efficiency.
The electronic collaboration and streamlined processes
greatly affect the number of loans processed. Forty-one
percent of respondents said BlitzDocs helped them originate
more loans each month. Sixty-two percent of participants
said that they made fewer follow-up calls to lenders.
By providing a solution to originators that helps them
both increase their loan volume and improve their efficiency,
lenders gain greater broker loyalty.
"As our collaborative document network continues
to grow, users are recognizing the advantages of paperless
processing
with BlitzDocs," said Greg Smith, president and
CEO of Advectis. "This year 67 percent of the survey
respondents whose processes had been streamlined by BlitzDocs
said their turnaround time was more than 25 percent faster,
a six percent increase from last year’s respondents.
Advectis is enabling the mortgage industry to experience
the benefits of paperless solutions and expects more
brokers will encourage their lenders to use paperless
technology as a path to improve service."
The Web-based BlitzDocs Collaboration Suite provides
all mortgage participants, including brokers and originators,
with a collaborative electronic document network to capture,
submit, organize, underwrite, audit, share and deliver
loan documents electronically. To request a copy of the
survey results or learn more about Advectis’ BlitzDocs,
please visit www.advectis.com.
About Advectis, Inc.
Advectis, Inc. provides the mortgage industry’s
most widely-used solution for electronic document collaboration.
The Web-based BlitzDocs Collaboration Suite provides
access to the BlitzDocs collaborative electronic document
network where participants capture, submit, underwrite,
audit, share, deliver and archive loan documents. BlitzDocs
customers benefit from a network with more than 25,000
broker shops, the top seven mortgage insurance companies
and three of the top due diligence providers. Collectively,
BlitzDocs investor participants represent more than 60
percent of loans purchased in the secondary market. For
more information call (678) 460-2460 or visit www.advectis.com.
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