Industry Benefits: Mortgage Companies
The amount of paper used annually in the mortgage lender is staggering. The document management systems used to keep track of all of these documents ends up costing the mortgage industry an estimated total of $3.7 billion dollars a year. From origination through the last bit of servicing a loan requires, a hundred or more pages may be printed off, copied, mailed, and stored, each one a costly expense.
That much paper turns into a huge problem. It's so easy for a document to be misfiled, lost or accidently destroyed. These files are usually full of very sensitive private information about your customers. It's your duty to protect these documents, and to make sure nothing happens to compromise the financial well being of the clients who are counting on you.
One of the biggest problems with the amount of paper used in the mortgage industry is that it greatly slows down the amount of time that it takes to process a loan. This limits the level of service that a mortgage company can offer. Digital documents can be sent to and from various members of the team, accessed from anywhere, and brought up with just a few clicks of the mouse. However, instead of taking advantage of the very best technology has to offer, much of the mortgage industry is still functioning the same way it was 10 years ago.
Another problem is the cost involved with a strictly paper office. Printing, copying, shipping, and filing all take a lot of money. There is also the cost of storing all of these documents securely, and then shredding any old or outdated files. Although this may cost only a small amount per each document, it adds up quickly.
There's a better way to run your mortgage company. A small investment in Attella's document management services can save you thousands of dollars, if not more, a year. It can also allow your offices to run at a higher level of efficiency, as well as improving the satisfaction of your customers.
The first thing we will do is discuss your specific needs. This involves determining where your main problem areas currently are, and then matching them up to our services. One of our most popular services, and the one that would provide the most benefit to most lending companies, is our onsite document scanning service. We gather up all of your documents, and then we sort them to either your specifications or through our own methods. These documents are then scanned into digital copies, and stored on a hard drive, CD, flash drive, or loaded onto a server. Because we only use the very best in scanning equipment, you can be sure that your digital documents will be crystal clear and easy to read. Your physical documents are boxed up for storage or prepared for shredding, whichever you prefer. This opens up a lot of useable room around your offices, as you will no longer need space for filing cabinets.
When you choose to create digital copies of your paper forms, you gain the ability to sort and search through your documents, pulling up the information you need in seconds. This can save hours searching for a missing document that has been misfiled. You are also able to access the files from any location, and send them electronically to team members or clients who may need their own copies.
If you have decided to shred your documents after they have been scanned, Attella has a service to help with that, as well. Our True Secure shredding services are the best you can ask for. We work on site with our equipment, shredding your sensitive documents to the point where it is impossible for them to be reassembled. Then, we box up the remains of the documents and carry them to a separate facility, where they will be immediately incinerated. We take your security, and that of your clients, very seriously here at Attella.
We also offer assistance in setting up digital mailrooms, eliminating the chance of important correspondence ending up lost on a desk somewhere or sent to the wrong department. Your mail will be scanned as soon as it is received, and then it can be sent to the proper departments from there.
All of Attella's team members have gone through a careful screening process before getting hired, and then have been trained to be the best in the field. We work hard to make your job easier, and to help make your customers happier. We're a small company, and we handle each project with the personal care and attention only a smaller business can offer.
The mortgage industry needs to make the change to a paperless system, to control costs and increase efficiency. If your office is ready to lead these changes, and to get involved in a better way of doing business, give Attella a call.
