Industry News

Real estate loan industry sees paperless future

Survey reveals bullish outlook for electronic mortgages

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Ease of integration with existing mortgage loan technology systems is among mortgage industry executives' most important considerations when looking to adopt paperless technology, according to a new industry survey. The survey indicates that the mortgage industry will make a significant move toward paperless mortgage processing over the next four years. In Advectis' second annual survey on paperless mortgage processing, mortgage industry executives were asked about their plans to move their organization toward paperless processing. When asked about their adoption of paperless technology, most company representatives overwhelming said it was important to integrate new technologies into the systems they currently use. Almost half of the respondents said they preferred to use technology that uses a standard approved by the Mortgage Bankers Association or the Mortgage Industry Standards and Maintenance Organization, known as MISMO. Participants identified the primary benefits of ...