home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Mortgage Technology news
Technology news for originators, executives and servicers. Coverage of LOS systems, loan product and p r i c i n g engines and other technology offered to the mortgage industry.



Data-Vision Opens Virtual Mortgage Folder

Electronic Binder for Mortgage Processing Documents

MISHAWAKA, Ind., Jan. 28 /PRNewswire/ -- Data-Vision, Inc., a financial technology leader, is rolling out its Virtual Mortgage Folder, an electronic binder for mortgage processing documents and related communications.

In the initial stage beginning Feb. 4, participants in the mortgage origination process -- such as banks, credit unions, brokers and wholesalers -- can transmit any type of file through the Virtual Mortgage Folder. Files can be transmitted in a variety of formats such as .pdf (portable document format) and .pcl (printer control language). In the second stage of launch this spring, participants will have two-way ability to exchange documents through the Folder, which will have significantly more capacity than traditional paper-based processing and closing packages.

The Virtual Mortgage Folder, part of RemoteDocs.com, Data-Vision's Web-based document delivery system, will contain a message area where any loan communication may be shared with access limited to those personnel permitted to view them.

"The way it works now, all parties involved in a loan origination have their own, segregated lines of communication," explained company Vice President John Dempsey. "So, if a broker checks on the status of a loan with the lender, he must then relay that information to the borrower."

As a result, he noted, "When multiple parties want to stay informed about a loan file, multiple calls and/or emails are needed."

However, with the Virtual Mortgage Folder, "All parties communicate through a central location. Documents, messages and files are available to all parties with the proper authorization," Dempsey said.

When fully implemented this spring, the Folder can contain any number of files: origination/processing documents, messages, data files, etc., including items typically part of the closing process.

Participants will be supported by the company's live customer service, available through midnight (EST) each working day, as well as having Data-Vision's ongoing penetration analysis and SAS 70 oversight, which allows customers to use Data-Vision's audits of internal controls.

"The average client will be able to transmit their closing documents at about half the cost of previous delivery methods," said Randy Schmidt, Data-Vision president.

Among its ancillary features, the Virtual Mortgage Folder will allow assembly of secondary documents necessary for a closing in one central file location for exchange electronically at the discretion of the lending institution.


MortgageDaily.com
SOURCE:
Data-Vision, Inc.

CONTACT:
John Dempsey of Data-Vision Inc.
888.925.8625

Neil Morse
of Morse Communications
203.426.5197
for Data-Vision, Inc.

hosted by USANow.net

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders