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Advectis Introduces BlitzDocs® Collaboration Suite
Suite provides a collaborative network for sharing mortgage loan documents
from origination to funding; from broker to investor
ATLANTA, August 2, 2005 – Advectis, Inc., provider of the most
widely-used solution for electronic mortgage document collaboration,
announced the introduction of the BlitzDocs Collaboration Suite.
The suite brings
to fruition Advectis’ vision of building a truly collaborative network
for mortgage participants that includes brokers, correspondents,
lenders, investors and other third party entities. With the recent
addition of BlitzDocs
Connector and the latest application, BlitzDocs Deliver, the suite
now expands on the BlitzDocs Enterprise solution.
"Mortgage lenders are demanding collaborative document solutions
that allow them to instantly share information with their business
partners," said
Greg Smith, president and CEO of Advectis. "The savings of time
and money enabled by such paperless solutions allow organizations
to gain efficiencies and competitive advantage. To satisfy this
demand, the BlitzDocs Collaboration
Suite allows mortgage professionals to collaborate electronically
with one another and to securely access mortgage loan documents
without having to
install special software or spend months on implementation. With
four of the top 20 lenders, more than 7,000 brokers and five of
the seven private
mortgage insurance companies now using the network, BlitzDocs Collaboration
Suite continues to gain traction in the industry."
BlitzDocs Collaboration Suite includes BlitzDocs Enterprise (consisting
of BlitzDocs Originate and BlitzDocs Post-Close), BlitzDocs Deliver and
BlitzDocs Connector. And with the continued growth in the industry, the
suite is poised for expansion as more third-party companies require access.
"The mortgage industry is constantly changing based on regulations,
needs of borrowers, demands of lenders and so many other reasons,"
Smith said. "The constant and reliable service that BlitzDocs Collaboration
Suite provides gives mortgage professionals peace of mind when
it comes to sharing loan documents with their business partners
quickly and efficiently."
BlitzDocs Enterprise provides lenders with electronic document
collaboration, enabling all participants in the mortgage industry to capture,
submit, organize, underwrite, audit, share and archive loan documents electronically.
Brokers, lenders, investors and other authorized users can access and view
mortgage documents using the Internet in real-time at any time or any location;
thereby, increasing productivity and reducing turn time.
BlitzDocs Deliver enables investors or correspondent buyers to
provide their correspondent sellers with the ability to electronically transmit
closed loan documents. The solution also provides the correspondent buyer
a loan folder image archive along with an optional direct transfer to a
back-office archive system. Due diligence, document/folder validation, archiving
and remote access can now be performed on the Web by any authorized provider
with a browser. Buyers and sellers of loans benefit by having significant
reductions in transfer, shipping, storage and audit/review costs. BlitzDocs
Deliver uses BlitzDocs Connector technology or electronic shipment (e-ship)
capabilities for electronic transfer from either current or non-BlitzDocs
users.
BlitzDocs Connector allows mortgage participants to use prepackaged
or custom connectors to assemble individual or multiple loan packages with
their associated documents and electronically transmit them to third party
systems. The connectors provide automatic mapping of document types and
indexing of data between BlitzDocs and receiving parties.
"BlitzDocs Collaboration Suite is the logical next step in the
way the mortgage industry wants to do business," Smith said. "We
founded the company with the goal of building the leading industry
network for collaboration with the mortgage lender at the heart
of the process. BlitzDocs Collaboration Suite fulfills our vision.
The suite allows
lenders,
brokers, contract underwriters and other participants to greatly
enhance the way they process loans throughout the loan lifecycle
including origination,
underwriting, archiving and correspondent delivery. With the addition
of BlitzDocs Deliver to our suite of solutions, we have now extended
the value
of paperless collaboration and sharing to correspondents and investors."
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