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Radian Guaranty Inc. Joins BlitzDocs® Collaborative Document Network
Leading mortgage insurance firm becomes BlitzDocs Certified Underwriting Provider
ATLANTA, Dec. 18, 2006 - Advectis®, Inc., provider of the most widely-used solution for electronic mortgage document collaboration, announced it has released BlitzDocs Connector to Radian Guaranty Inc. for contract underwriting. Philadelphia-based Radian has also become a BlitzDocs Certified Underwriting Provider.
With this new BlitzDocs Connector, lenders using BlitzDocs may deliver imaged mortgage loan documents to Radian for off-site contract underwriting. And as a BlitzDocs Certified Underwriting Provider, Radian also will have access to the BlitzDocs collaborative document network and will be able to receive electronic loan folders from any lender using BlitzDocs.
"The BlitzDocs Certified Underwriting Provider designation demonstrates our continued commitment to improving our processes," said Mike Brown, senior vice president of Lender Solutions for Radian Guaranty. "We want to do all we can to support lenders working in a paperless manner. It aligns well with our business model and supports our strategic objectives. Being able to share imaged files not only saves Radian time and effort, it also improves our service on underwriting, which is one of our top priorities."
BlitzDocs Connector is a component of the BlitzDocs Collaboration Suite, which allows imaged loan documents to be easily delivered from lender to service providers with the click of a mouse.
"Advectis' strategy is to make it easy for all participants in the mortgage origination process to conduct business with their partners using the BlitzDocs collaborative document network," said Mike Parham, vice president of business development at Advectis. "With the availability of BlitzDocs Connector for Radian, our customers can send imaged loan folders to Radian, greatly increasing underwriting efficiency."
BlitzDocs Connector is a component of the BlitzDocs Collaboration Suite, which allows imaged loan documents to be easily delivered from lender to service providers with the click of a mouse.
"Certifying underwriting service providers for best practices and integration helps evolve today's paper-intensive processes to tomorrow's e-mortgage by reducing costs and improving service, " said Greg Smith, president of Advectis.
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 Radian Group Inc
Radian Group Inc. is a global credit risk management company headquartered in Philadelphia with significant operations in both New York and London. Radian develops innovative financial solutions by applying its core mortgage credit risk expertise and structured finance capabilities to the credit enhancement needs of the capital markets worldwide, primarily through credit insurance products. The company also provides credit enhancement for public finance and other corporate and consumer assets on both a direct and reinsurance basis and holds strategic interests in active credit-based consumer asset businesses. Additional information may be found at www.radian.biz.
About Advectis, Inc.
Advectis, Inc. provides the mortgage industry's most widely-used solution for electronic document collaboration. The Web-based BlitzDocs Collaboration Suite provides access to the BlitzDocs collaborative electronic document network where participants capture, submit, underwrite, audit, share, deliver and archive loan documents. BlitzDocs customers benefit from a network with more than 20,000 broker shops, the top seven mortgage insurance companies and three of the top due diligence providers. Collectively, BlitzDocs investor participants represent more than 50 percent of loans purchased in the secondary market. For more information call (877) 200-8700 or visit www.advectis.com.
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