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AIG United Guaranty using New BlitzDocs® Connector to Receive Loans
On-Line
GREENSBORO, May 13, 2005 – AIG United Guaranty, whose affiliate
companies provide mortgage guaranty insurance and other financial
services for the mortgage industry, can now receive electronic files
directly from lenders using BlitzDocs Connector from Advectis,
Inc.
BlitzDocs Connector is an extension of
the BlitzDocs platform that allows participants in the housing finance
industry to share loan documents in a secure, collaborative folder
that is accessible via the Internet. AIG United Guaranty will use
the connector to speed and simplify the underwriting process for lenders
who are also BlitzDocs customers. The connector can package individual
or multiple loan documents and also provide automatic mapping of document
types and names.
"Having this connection is one more step
in our evolution to a paperless underwriting
process," said George
Baity, Vice President of Business Systems
for AIG United Guaranty. "Being
able to transmit, receive and share imaged
files is not only more efficient, it also
gives lenders faster service on their mortgage
loan underwriting, which is one of our
top priorities."
Greg Smith, President and CEO of Advectis,
said the company developed the BlitzDocs
platform to give all the players in the
mortgage industry a secure way to collaborate and
share
the information they need to close a loan. "By allowing lenders,
brokers, investors, mortgage insurers, and other authorized parties
a way to access and view mortgage documents over the Web in real time,
we can cut down on the time it takes to process a mortgage loan," he
said.
The BlitzDocs Connector was built following
extensive interviews with some of the largest lenders, brokers and
investors in the mortgage industry, and Smith said it is designed
specifically to meet their requirements for document sharing.
About AIG United Guaranty
United Guaranty Corporation (AIG United
Guaranty) and its subsidiaries are member
companies of American International Group,
Inc. (AIG). The company has been headquartered in Greensboro,
North Carolina, since it was established
in 1963.
Subsidiaries of AIG United Guaranty provide
mortgage guaranty insurance for first and second mortgages that protects
against mortgage credit losses. In addition, AIG United Guaranty's
comprehensive range of financial products and services to lenders
and investors includes mortgage fraud recovery services, student loan
default insurance, and access to insurance products from AIG member
companies. AIG United Guaranty's international locations include offices
in Jerusalem, Hong Kong, Taiwan, Madrid, London, Tokyo, Mexico City,
Milan, and Beijing.
AIG United Guaranty is a marketing term
for United Guaranty Corporation and its
subsidiaries. AIG United Guaranty media releases may be viewed on
our Web site at www.ugcorp.com.
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