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Advectis and Dexma Partner to Offer Collaborative Web-based
Data and Document Management
ATLANTA, Oct. 18, 2004 - Advectis, Inc., provider of the most widely used solution
for electronic document collaboration, and Dexma, Inc., a leader in mortgage
technology and data management, are partnering to allow lenders and third party
mortgage participants electronic access to data and documents crucial to completing
the loan process from origination to servicing.
“The average loan is touched or impacted by as many as ten separate parties in
the loan process. Advectis and Dexma have shown in real customer implementations
that automating the sharing and delivery of mortgage data and documents brings
significant efficiencies for lenders and originators,” said Advectis president
and CEO Greg Smith. “We share the same vision that Web-based technology
is the key to opening the loan process to all of the people who need to actively
collaborate to get a loan closed. Dexma is a clear leader in the industry, and
our integrated solution enhances the offerings of both companies.”
Dexma's technology collects all of the data needed to process loans and connects
to the many parties involved in the transaction. The Transaction Director is
the powerful engine that drives every platform Dexma builds for retail, wholesale
and correspondent lenders. The Transaction Director instantly and “intelligently” routes
the many pieces of information required in a typical mortgage transaction and
provides a centralized means of accessing all of the services necessary in fulfilling
a mortgage.
Advectis provides the mortgage industry’s first and most widely used
solution for electronic document collaboration, BlitzDocs Enterprise.
At the heart of
BlitzDocs Enterprise is the Collaborative Electronic
Loan Folder (“e-folder”)
which mirrors the paper loan folder that mortgage companies
use today, and streamlines loan processing through capturing, collaborating,
sharing and archiving of the
e-folder. The two technology providers’ applications are currently
in use at the North Carolina–based mortgage insurance unit of Genworth
Financial Inc.
"Working with our key technology partners, we have been able to provide significant
productivity gains for our lender customers," Rick Popillo, VP of eProducts
for Genworth Financial’s mortgage insurance business said. "Our AU
and Doc Central platforms, powered by Dexma and Advectis, allow originators to
create electronic files in Doc Central and submit for contract underwriting with
a few clicks. After they make the initial electronic submission, they can fax
other documentation, saving originators at least one day by eliminating overnight
delivery of the loan package."
“Our success with Genworth is indicative of what happens when you eliminate
the traditional paper process and repetitive data entry,” Tim Anderson,
executive vice president of Dexma said. “Dexma and Advectis’ Web-based
applications work incredibly well together and solve a key point of contention
within the mortgage industry, which is how to best manage documents and data
for a more automated, efficient workflow.”
“In the paperless world, data and documents should be exchanged in a synchronized
workflow,” Smith said. “A collaborative platform eliminates the silo
effect where different parties work sequentially, oblivious to each other’s
input. Now, everyone with a stake in the loan can communicate, share information,
participate in updating documents and see changes that are being made in real-time.”
Today four of the top 20 lenders in the country use BlitzDocs technology. Dexma
works with seven of the top 40 lenders, most of the nation’s mortgage insurance
companies and is the technology behind Prime Alliance, which is handling one
of every four credit union loans.
About Dexma
Founded in 1995, Dexma, Inc. enables mortgage industry
players to compete more effectively by streamlining loan production and
expanding distribution. Dexma’s
core technology, the Transaction Director, powers the
retail, wholesale and correspondent platforms for several top lenders including
National City Mortgage, First Horizon
Home Loans and U.S. Bank Home Mortgage, as well as most
of the nation’s
mortgage insurance companies. As a Fannie Mae technology
partner, Dexma Web-enabled the underwriting platforms Desktop Originator®
(DOTM) and Desktop Underwriter® (DUTM).
In addition, Dexma has built strategic alliances with
most of the nation’s
leading underwriters, mortgage insurance companies and
fulfillment service providers. For more information, call (952) 229-1400
or visit www.dexma.com.
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