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David Aach

Recent Posts

5 Mortgage Industry Trends Taking 2017 by Storm

Posted by David Aach on Aug 18, 2017 9:00:00 AM

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Now that we’re more than halfway through 2017, let’s take a pause and reflect on the trends that have shaped our industry the most this year.

 

Trends by definition may seem fleeting, but it’s important for lenders and other mortgage industry professionals to stay on top of what’s current. Doing so ensures competitive business practices that will result in a modernized customer experience, successful adherence to critical regulations and maximized operational efficiency.

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Topics: mortgage compliance, consumer lending, electronic lending

Three Ways Document Services Can Help CEOs

Posted by David Aach on Aug 10, 2017 9:00:00 AM

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Today’s mortgage industry CEOs are focused on digital transformation because it holds the key to competitive advantage, as well as the way to improve efficiency and lower costs. To make the leap from traditional mortgage loan origination to the digital mortgage, CEOs must drive optimization and transparency while also delivering an excellent customer experience.

 

Optimize Your Home Lending Documents

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Topics: document services, digital mortgage, mortgage digital transformation

Courts Laying the Foundation for Paperless Mortgages

Posted by David Aach on Jul 26, 2016 9:00:00 AM

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When it comes to paperless mortgages, lenders know what the advantages are – lower costs, more flexibility and a faster closing process. But despite the advantages ditching paper provides, widespread adoption of paperless mortgages has been extremely slow.

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Topics: Technology

Moving from Static Forms to Dynamic Loan Documents

Posted by David Aach on Jun 7, 2016 9:00:00 AM

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In a previous post, we talked about the move away from paper loan documents and the concept of a form, which is basically a static document with spaces to hold specific data that must be manually changed. This migration away from forms and toward data driven loan documents is enabling great improvements in processing speed, customer satisfaction and the development and release of new loan products.

 

In the old days of static loan forms, complicated technologies were require to pull data out of the document for use in the lender’s processing system. In most cases, lenders were forced to scan a document into their systems and then count on specialized technology to pull the information out of the document image. There was a lot of X and Y coordinate measuring going on. If the loan document did not look exactly as expected, errors resulted. There was also no way to account for additional space. A long address, multiple buyers or complicated information could often not fit into the predefined space allowed for each field.

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Topics: Technology

Enhancing the Mortgage Process with eDocuments

Posted by David Aach on May 17, 2016 9:00:00 AM

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As new regulations are constantly being introduced within the mortgage industry, today’s lenders are increasingly searching for new products and services to lessen the stress and strain of managing new changes. While adding in new technology may further confuse some, by employing the right approach, lenders can significantly mitigate the headache new regulations bring about by using electronic documents to simplify processes without incurring significantly higher expenses.

 

For nearly all lenders, the key to successfully implementing electronic documents lies in understanding the many benefits they can provide. Some loan officers see eDocuments as simply scanning in already existing paper mortgages and emailing them to the desired borrower. However, in a truly paperless institution, the documents never exist in paper form.

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Topics: Technology