Workflow Platform Helps Peelle.(Peelle Management Corp.)

Over the past seven years, Peelle Management Corp., a provider of assignment, reconveyance, document retrieval, file review and imaging services, has developed workflow technology and has helped to mitigate the headaches associated with the biggest refinancing boom in history.

Dayn Pefferle, president of Peelle Technologies, said that the company's workflow system was implemented in time to help manage the heavy workload during three years of record-breaking lending volume, which in turn generated huge increases in loan boarding and payoff activity for the mortgage servicing industry to manage.

Because of imaging, the paper files "literally stay in the warehouse" while imaged photos are used to process the loan payoffs. In addition, Mr. Pefferle said Peelle's workflow prioritizes loan payoffs to reflect statutory deadlines for processing a reconveyance or lien release at the state level. Most states have statutory limits ranging form 15 to 90 days for completing reconveyance of title or a lien release, with the average being about 30 days, he said.

Ken Palmer, executive vice president of Peelle Management, said that imaging is a major technology trend in the lending industry, with many companies imaging documents at closing so as to manage them electronically thereafter.

It's a trend that also creates opportunities for Peelle.

Imaging of documents means that companies like Peelle can take those images and put them into workflow engines that allow servicers to distribute tasks utilizing those images both internally and to outside vendors, Mr. Palmer said.

"That obviously reduces their costs, ...