Business Insider has a great article today called “Here’s Your Complete Checklist Of Documents Needed For A Mortgage Loan.” It lets borrowers applying for a mortgage loan know what documentation to bring and will be required by the bank to start the loan process.
That list keeps changing and growing with new regulations. And papers get lost. Fact.
What the article doesn’t discuss is how the copies of those documents will be stored and accessed after the loan originator collects them. Several other people will need to access those documents and file folders go from crowded desk to crowded desk. It’s a paper nightmare.
Today’s web-based mortgage software eliminates the danger of misplaced papers by digitizing every document and storing them in one central location where they can be accessed by all the poeple who need them. See how OpenClose mortgage software can make sure that a file is never lost again.