Service Platforms /
Digital Loan File
The Digital Loan File Makes Paperless Possible.
The paperless mortgage loan is the Holy Grail of lending - countless vendors claim to find it, only to image the paper file and keep it in an index.
The result? The inefficiencies of a paper file housed on a hard drive.
FNC’s Digital Loan File extracts data.
FNC turned collateral documentation into an XML data stream with the Collateral Management System. Digital Loan File goes further, extracting key data from the loan file – from credit to appraisal to title – and housing it in a Web-based system.
The obvious advantages:
- Simultaneous access of the same file
- Simplified completeness checks
- Electronic delivery of the loan package for closing
- No printing, copying, faxing, or retrieving
- Data enables automated business decisioning
- Seamless documentation flow from closing to post-closing prioritizes work
So easy. Paperless isn’t the Holy Grail after all.
