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Despite the immense investment that has been made in going paperless, today's top lenders still count document management as one of their top operational concerns. The industry has succeeded in making documents easier to locate, store and manage, but we haven't made them disappear.
The paperless mortgage may one day be a reality, but today it is largely an objective. To cynical eyes, it may even seem like a mirage. To succeed in loan origination and portfolio administration, executives have to manage complex document and workflow processes. Trailing and missing documents have been a plague on the industry in the past. Technology is helping to keep that plague in check. In truth, the border between paper and electronic commerce has gotten blurry. Most lenders scan documents, converting them into digital images that can easily be summoned to any authorized user's computer ...
Source: HighBeam Research, DOC Management.(Special Report)(Brief article)