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Triad Guaranty Insurance Joins BlitzDocs® Certified Underwriting
Provider Program
Greater Efficiencies Drive Paperless Loan Processing
WINSTON-SALEM, NC, June 22, 2005 – Triad Guaranty Inc. (Nasdaq: TGIC)
announced that its subsidiary, Triad Guaranty Insurance Corporation, has
joined the BlitzDocs Certified Underwriting Provider Program. The certification
allows Triad to review and underwrite electronic files directly from lenders
using BlitzDocs solutions from Advectis, Inc.
BlitzDocs Certified Underwriting Providers use the on-demand technology
as a key solution component in their origination/underwriting process.
"We are excited to become a BlitzDocs Certified Underwriting Provider,"
said Pam Morrison, CMB, CMT, Vice President, eCommerce Development
and Operations, Triad Guaranty Insurance. "BlitzDocs Enterprise
is emerging as a standard way of doing business in the origination
and underwriting process. We want
to support those lender organizations that are working in a paperless
fashion with BlitzDocs solutions; it fits our business model and
supports our strategic
objectives. We look forward to achieving greater heights in customer
service, turnaround time, and issue resolution."
"Private mortgage insurance companies like Triad Guaranty who provide
contract underwriting services are key constituents in the highly
collaborative, loan processing cycle," said Michael Parham, Vice
President, Business Development, Advectis, Inc. "The ability to
electronically connect originators and lenders with their contract
underwriters shortens turnaround
time, increases customer satisfaction, and reduces costs for all
parties involved in the process."
According to Advectis, certifying underwriting service providers
for best practices and integration are steps toward bridging today’s
paper-intensive processes with tomorrow’s e-mortgage by reducing costs,
turnaround time and increasing overall efficiency for both brokers and lenders.
To become certified as a BlitzDocs Certified Underwriting Provider, a company
must have a minimum of six trained BlitzDocs underwriters on staff, be a
member of the Mortgage Bankers Association (MBA), demonstrate a core competency
in underwriting, offer contract underwriting services to customers and comply
with basic interface requirements.
About Triad Guaranty Insurance Corporation
Triad Guaranty
Insurance Corporation, a wholly owned subsidiary of Triad Guaranty
Inc., is a nationwide mortgage insurer providing mortgage insurance (MI)
to residential
mortgage lenders. Private MI makes homeownership available to
buyers with equity of less than 20%, facilitates the sale of mortgage loans
in the secondary
market and protects lenders from default-related expenses. For
more information, please visit the company’s web site at http://www.triadguaranty.com.
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