Making the Paper Disappear.(paperless loans)(Brief Article)

There has been a lot of talk about originating loans without paper. While the paperless mortgage may be a way off yet, lenders, title companies and even county recorders are finding ways to reduce the amount of paperwork that needs to change hands when a loan is made. But mortgage servicers may actually be ahead of the curve when it comes to cutting down on paper. Already, just about every major lender offers options for paying monthly mortgage bills electronically, via automated clearinghouse technology as well as Internet and telephone enabled automatic debit programs. The percentage of home loan customers who pay their bills by writing out and mailing a check every month has been steadily declining over the last several years.

And that is just one way mortgage servicers are reducing the paper burden. They are also working with entities such as MERS ...