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Advectis Announces New Capabilities for BlitzDocs Collaboration
Suite
Workflow, electronic loan delivery and reporting enhance use of collaborative
network
ATLANTA, October 24, 2005 – Advectis®, Inc., provider of
the most widely-used solution for electronic mortgage document collaboration,
today announced at the 92nd Annual Mortgage Bankers Association (MBA)
Convention & Expo new enhanced capabilities for the BlitzDocs® Collaboration
Suite. The enhanced functionality includes new features that streamline
process automation, improve electronic loan delivery to third parties
and provide greater reporting. These new features continue to build
Advectis’ vision to streamline loan processing from capture
and submission through the sharing and delivery of electronic loan
documents.
The enhanced capabilities and features of the suite expand
on the on-demand solution for mortgage participants that
currently include a collaborative electronic loan folder, electronic
loan document
submission, image-based underwriting, post-closing archive
and participation in a collaborative document network that streamlines
loan transfer.
New capabilities include:
Streamlined workflow through enhanced action set capabilities – Action
sets allow users to execute powerful business scenarios,
such as streamlining underwriting and loan delivery processes.
BlitzDocs Collaboration
Suite users can direct loans to internal or off-site underwriting,
while balancing the load. Workflow notifications are generated
based on actions and status, with temporary access granted
to third parties.
With the new capabilities, customers are:
- Streamlining the underwriting process with automated status
updates and multi-participant workflow notifications
- Providing one-click electronic loan shipment with all major
mortgage insurance providers to facilitate off-site contract underwriting
- Electronic loan folder export to back-office image archive
systems
Electronic loan delivery through additional BlitzDocs
connectors – BlitzDocs
Collaboration Suite customers have used connector functionality
to deliver loan documents from the BlitzDocs collaborative
network to investors and correspondent buyers. In addition
to existing
connectors for Countrywide and Genworth, Advectis has recently
introduced connectors for PMI, United Guaranty, and others.
BlitzDocs connectors have streamlined delivery to image
archive systems such as, FileNet, Global360, OnBase and
Mobius. Electronic
delivery including the transformation for document mapping
and stacking order, dramatically reduces the costs associated
with loan delivery to the secondary market. BlitzDocs Connector
uses either a customer-defined format or industry standard
formats like MISMO.
Intelligent reporting – Enhanced reporting functionality
allows BlitzDocs customers to create user-defined reports
to facilitate pipeline and productivity reporting. The
reports will be included in the BlitzDocs interface for
easy user interaction. Advectis will also introduce the
definition and creation of a BlitzDocs XML data extract,
allowing customers to utilize stored information and metrics
for integration with their corporate business intelligence
(BI) or reporting tools. This integration will allow for
customers to leverage corporate BI initiatives by allowing
easy integration from BlitzDocs using industry standard
technologies. The XML extract will be generally available
by the end of 2005.
"The adoption of the BlitzDocs Collaboration Suite
by brokers, lenders and other mortgage industry participants
continues to expand at a rapid pace," said Judson
Phillips director of product marketing at Advectis. "The
new enhancements in our suite represent our commitment
to provide the mortgage industry with the most powerful
collaborative document solution for mortgage participants
to perform paperless loan processing."
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