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Paperless Servicing.(Brief Article)

Mortgage Servicing News

| March 01, 2005 | COPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

An increasing number of mortgage lenders and technology vendors are developing plans for a "paperless mortgage." And while we think trees will continue to be sacrificed to support the mortgage industry for years to come, clearly momentum is growing to eliminate as much paper as possible for the lending business.Anyone who's ever spent months trying to track down "trailing documents" associated with a loan closing or servicing sale knows how important this is to the industry.

Paper-free financial transactions promise to reduce error rates, eliminate storage hassles and make retrieval of documents and information about a loan account easier than it has ever been before. While much of the paperless mortgage debate has focused on loan origination, it's servicers who may be the big ...

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Source: HighBeam Research, Paperless Servicing.(Brief Article)

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